Is Social Security a Ponzi Scheme?

NO PONZI scheme in the history of the world has ever lasted 75 years. Ponzi schemes depend on garnering an ever-increasing pool of new investors to pay out returns to prior investors. When the potential pool of new investors runs dry, they collapse. This will occur when the scheme runs up against the natural limits of its recruitment strategy; in the ultimate case, it can't keep going past the point where the entire population is already subscribed"... By Contrast, "The entire population of working Americans has already been subscribed to Social Security for decades, yet the system continues to pay out benefits on time. That is because the actuarial calculations underlying its revenues and benefits are sound.

notes: "Social Security does face a shortfall in the coming decades, because of the population bulge of retiring baby boomers. Those costs are limited and, measured as a percentage of GDP, will flatten out. They can be absorbed through a modest, gradual increase in Social Security taxes and modest reductions in benefits for wealthier recipients."

What Mr Perry is doing is part of a consistent decades-long habit across much of the conservative right of attacking the foundations of Social Security. Up until about 2007, the goal of such attacks was clear: conservatives wanted to replace it with a Chilean-style defined-contribution plan that would be invested in securities...but since the financial crisis, and with average returns from Wall Street now sharply negative over an entire decade, both the logic and the political support for any such program have evaporated.

Still it's fairly apparent that most Americans remain pretty hazy about the benefits of various social programs, and whether or not and/or how they actually benefit from them.

Some of this is due to the  phenomenon  of "submerged social benefits" that have become known as " the hidden welfare state ," and remains especially true for all those pesky "tax expenditures" that now lard up our voluminous and complex federal tax code. There's a vast array of these subsidies, such as the home mortgage interest deduction and the deduction for employer-provided health care benefits that might be reformed to better align them with the fiscal realities of today.

Admitted Property Insurance Carriers In Texas - News


Insurer Retools Home Value Insurance Coverage

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Texas AG secures reimbursem​ent from roofing contractor
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Fort Worth residents say seismic testing damaged their homes

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Al Qaeda Figure Killed; Listeria Toll Rises
Al Qaeda Figure Killed; Listeria Toll Rises

Millions of the melons were recalled, but they could still be in home refrigerators. Meanwhile, a California company said it was recalling about 30000 pounds of chopped romaine lettuce after the FDA found listeria in a sample.



Is Social Security a Ponzi Scheme?

Indeed ancient social insurance plans are known from accounts in ancient Mesopotamia recounting collective action pledged to fight fires. Benjamin Franklin would see fit to reinvent such collective mutual aid societies and fire companies in early




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Admitted Property Insurance Carriers In Texas - Bookshelf

In Cold Blood

In Cold Blood

With the publication of this book, Capote permanently ripped through the barrier separating crime reportage from serious literature.

In defense of food, an eater's manifesto [additional copies -- 2]

In defense of food, an eater's manifesto [additional copies -- 2]

Cites the reasons why people have become so confused about their dietary choices and discusses the importance of enjoyable moderate eating of mostly traditional ...

Democracy in America

Democracy in America

Among the novel objects that attracted my attention during my stay in the United States, nothing struck me more forcibly than the general equality of ...

A Wrinkle in Time

A Wrinkle in Time

Meg Murry and her friends become involved with unearthly strangers and a search for Meg's father, who has disappeared while engaged in secret work for the ...

Democracy in America

Democracy in America

A French aristocrat's account of the ways in which democratic ideals were applied in America during the nineteenth century.

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