One of the biggest scams ever foisted upon the American people. A time bomb. There never was a “lock box” that was raided, that’s a lie. It’s been a ponzi scheme since day one.
You want to see open revolt? The baby boomers are well armed.
“One of the biggest scams ever foisted upon the American people. A time bomb. There never was a “lock box” that was raided, that’s a lie. It’s been a ponzi scheme since day one.”
I don’t really have an argument with your statement, but I did write several (negative) papers on SS while in school. At the time it was put in place and despite being 100% political pandering, it was initially set up to operate properly into the future but it assumed the conditions of the time would continue. At the time people, on average, died within months of their 65th birthday. They also had three to five children each couple. There was, initially, a separate fund. But by the late sixties the fund was huge and politicians, notably, LBJ, wanted access to that money. They (I think the word is “conformed”) the budget to take into account that huge pile of money. They replaced the money with promissory notes. (Not quite the right word, but that’s the idea.)
Now my mother, who was born in 1917, is cranking along just fine at 100. The huge amount of children born per couple in 1933 has dropped to about 1.4 among people who work and pay into the system but is still about 6 for people who, historically, are just sucking on the system.
In essence, politicians can’t be trusted if there is money anywhere about and that, aside from the questionable morality and the unconstitutionality of the system, is the problem.
Frankly, this is a great example of the failed public school system. This is a major program that perhaps 60% of retirees rely upon soley for income. Yet nobody really knows that it is a time bomb, a scam, a Ponzi scheme. I blame the public schools for not teaching that, it's an important and simple topic to understand if taught. I understand why though, liberal schools support big government liberalism so to reveal this as a flawed program goes against their religion.