Posted on 08/29/2011 12:04:46 PM PDT by tobyhill
Republican presidential candidate Rick Perry continued his attack on Social Security over the weekend, calling it a "Ponzi scheme" and a "monstrous lie" to younger Americans who should not expect to get back their contributions upon retirement.
"It is a Ponzi scheme for these young people. The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry said, according to the Houston Chronicle.
"It is a monstrous lie on this generation, and we can't do that to them," Perry told a crowd a The Vine Coffeehouse in Ottumwa, Iowa.
(Excerpt) Read more at cbsnews.com ...
Wow...
Let’s see. Where is Social Security collected? What is it based on? Let’s start with those two questions. Can you answer them?
THe minute they will stop, however, watch Zero bring up the k!ke word and black power and the MArxist theme. THese jews are part intimidated, part corrupted by being stuck in a Marxist pyramid scheme of enforcement and part fooled. It’s terrible. They do not see that Israel and Zionism is held against them as another pyramid scheme, calling on it in various forms of messianism. The difference between belief and “science of antisemitism” is going to rear its ugly head as the pyramid is going to crumble on itself.
That it was a Ponzi scheme based on the assumption of ever expanding population will get no argument from me.
Regards
One more issue which I forgot to mention:
The “IOU’s” the SSA is holding from the Treasury - ie, the Treasury debt which funded deficit spending of monies that were collected to fund SSA accounts - those will need to be redeemed in order to pay out benefits to claimants.
Well, there’s no budget surplus right now - quite the opposite.
So the government has to issue NEW debt to cash out the existing debt held by the SSA to pay claimants.
Clear so far?
That makes the Social Security scheme the only Ponzi scheme I know of where the victims have to pay TWICE. They paid first when they were suckered in, and again when the system should have failed, but was propped up by people who insisted on throwing good money after bad.
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