Skip to comments.Is Social Security a Ponzi Scheme? Rick Perry thinks so.
Posted on 08/29/2011 12:58:04 PM PDT by martosko
There goes Rick Perry again, saying things that make liberals heads explode.
Speaking to a crowd in Iowa this weekend, the Texas governor and GOP presidential hopeful doubled down on statements he made in his book, Fed Up!, that Social Security is essentially a pyramid scheme.
It is a Ponzi scheme for these young people, Perry said. The idea that theyre working and paying into Social Security today, that the current program is going to be there for them, is a lie. It is a monstrous lie on this generation, and we cant do that to them.
The left reacted, predictably, with shock and outrage. Liberal blog Firedoglake called Perrys rhetoric wingnutty talk and crazy sh*t.
My congressman was calling it a ponzi scheme a year ago. The liberals went ballistic and even had ads about it.
True is true.
You’re on a third duplicate. See this one: http://www.freerepublic.com/focus/news/2770487/posts?page=61#61
The truth hurts.
The stuck pig squeals the loudest................
Beats me. It is probably the biggest ponzi scheme in the history of the world.
When you have no solutions to offer, you name call. How many times have we heard this crap to change the subject.
But ... Ponzi Scheme? That's definite. Why is there even a debate? The math is the math and SS is a ponzi scheme.
It’s not a spade ... it’s a TRUST FUND that WAS solvent until Congress in their enfant-ant wisdom [that’s baby-small-minded] started sucking money out of the Trust Fund for its own little schemes.
CUT MedicAID and Food Stamps ... there’s never been a Trust Fund for them ... and all other UNFUNDED ‘entitlement’ type payments.
AND make all government officials part of the SSA system ... Congress especially ... that’ll FIX the problem that shouldn’t exist.
I think that Perry was saying that the way the government today uses money collected for SS is a scam. The money is collected for SS but used for something else and then tell the people the program is broke. Still trust these politicians?
I agree with Perry.
Did Perry mention the hundreds of billions of dollars sucked up by anchor babies, illegals, new immigrants, and their respective families? Or the money being spent to fix up Mexican trucks, to sponsor green technology overseas, to pay college tuition for students from red China, to set up the Moslem Brotherhood in Libya, etc.?
Social Security uses money from new ‘investors’ (current workers’ FICA tax withholdings) to pay ‘returns’ (’benefits’) to existing/previous ‘investors’ (retirees whose FICA tax withholdings were used to pay ‘benefits’ to the previous generation of etirees).
If there is a better or more succinct, description of our Social Security system than ‘ponzi scheme’ I’d like to hear it.