***SS is a ponzi scheme where the participants are forced into it by law.****
Several months ago AARP BULLETIN had an editorial about how the Social Security system was NOT a Ponzi scheme. Ponzi schemes fail, the SS system has not, therefore it is not a Ponzi scheme.
Several pages later there is an article by Jane Bryant Quinn on the Social Security System and where it gets it’s money. The description was just like a Ponzi scheme.
“Several months ago AARP BULLETIN had an editorial about how the Social Security system was NOT a Ponzi scheme.”
I read that. AARP is no stranger to political whoring: http://www.forbes.com/sites/aroy/2012/09/22/the-aarps-2-8-billion-reasons-for-supporting-obamacares-cuts-to-medicare/
Any financial scheme which depends on an every increasing number of new participants to pay off the existing participants is, by definition, a ponzi scheme. Just like with SS, Madoff’s “investment” fund was doing just fine until too many people started asking for their money.
“Several months ago AARP BULLETIN had an editorial about how the Social Security system was NOT a Ponzi scheme.”
I read that. AARP is no stranger to political whoring: http://www.forbes.com/sites/aroy/2012/09/22/the-aarps-2-8-billion-reasons-for-supporting-obamacares-cuts-to-medicare/
Any financial scheme which depends on an ever increasing number of new participants to pay off the existing participants is, by definition, a ponzi scheme. Just like with SS, Madoff’s “investment” fund was doing just fine until too many people started asking for their money.
Here's a link to it: http://www.aarp.org/work/social-security/info-10-2011/social-security-not-ponzi-scheme.html
The comments are entertaining. Those old people start hitting each other with their canes when one of them quotes the Securities and Exchange Commission's definition of a Ponzi scheme and points out the only difference between it and SS is that the Ponzi scheme is voluntary.