“His take on the situation is realistic.”
His and your take on the situation is simplistic.
(courtesy ping to Skalgar)
Well, gnat, all you have offered is ad hominem.
Are your math skills so rusty you can’t see a simple Ponzi scheme before your eyes?
Do you think this was anything other than a stupidity tax that should be shut down as soon as possible?
Are you actually saying SS was a good idea that should be continued? And that anyone (actually of any age) should actually depend on it in their retirement planning?
Really?
SS should be shut down ASAP — the contributors given back their money to invest as each sees fit. Cut it off next year — by that time we will be in the early wave of Boomers, who should have known better.
Or do you also suggest we reward more bad decisions?
Ever hear of the Economic principle of “sunk cost?
(for lay people that is “good money after bad”).