[nufsed]

Did Roosevelt do the ponzi? I thought the fund was set separetly to grow to meet future needs. Then the congress and the president decided in the LBJ administration that they need to money for general expenditures?

Asking for info.

[Michael.SF.]

I would think we could safely say Roosevelt, aided and abetted by a Democrat Congress, was step one (of several steps) in the development of turning Social security into an illegal money confiscation gambit (if it was practiced by a private company).

[JoanVarga]

I remember somewhat that Social Security funds became a part of the accounting magic that our brave leaders used as a justification for more taxes. They started counting those funds as assets or liabilities, depending on what new scare tactic was needed to cow the masses into submission to new taxes.

[Still Thinking]

Did Roosevelt do the ponzi? I thought the fund was set separetly to grow to meet future needs. Then the congress and the president decided in the LBJ administration that they need to money for general expenditures?

He paid people who had never paid in. Thus each generation is paying the previous one. Thus it's hard to ever turn off this socialist scam because there will always be a group who has paid in but not collected and the money they paid in is gone.