Quote:
Originally Posted by RainMaker
It's sad that it's passable in a primary since it shows that he doesn't know what a ponzi scheme is or how SS works.
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One could argue that social security is worse. First of all to have a "victim" of a ponzi scheme like Madoff's it requires someone choose to get involved in a situation to looks to good to be real. So basically they have chosen to forgo treasury bonds or conservative investments for the big score. So while Madoff and others are definitely creeps it really is hard to feel too bad for their victims,.
Social security on the other hand is not a choice. If you work you get to be a part of this setup even if you don't want to. And if the shit hits the fan there isn't going to be any money. Why? Because the Congress decided to raid the fund to spend it on wars and other programs that the money wasn't intended for. So you are correct that it isn't a Ponzi scheme but in the end does it really matter what we call it? If they keep spending money on everything under the sun from endless war, endless "security", corporate welfare, unemployment... the money one day will actually disappear. And you can say it isn't a ponzi scheme still, fine how about a US Congress scheme?