Posted on 09/09/2011 8:11:32 AM PDT by shield
According to the commentariat, Governor Rick Perry has stepped into a pile of electoral cow manure. Perry had the unrivaled gall to tell the truth about Social Security — that the program is, by design, a Ponzi scheme. As President Eloquent might say, the talking heads are “all wee-weed up.”
Personally, I’d like to give Rick Perry a medal for courage and a laurel wreath for leadership. He has signaled his intention to speak truth boldly in terms real people can understand.
Of course, Social Security is essentially a Ponzi scheme, fully dependent upon adequate numbers of new “investors” (workers) to pay off prior “investors” (retirees). But this week, Reason delineated three major Social Security facts that make it far worse than a Ponzi scheme, and audaciously added that Rick Perry was “soft-pedaling” his rhetoric on the subject. From Reason:
One, a Ponzi scheme collects money from new investors and uses it to pay previous investors — minus a fee. But Social Security collects money from new investors, uses some of it to pay previous investors, and spends the surplus on programs for politically favored groups — minus the cost of supporting a massive bureaucracy. Over the years, trillions of dollars have been spent on these groups and bureaucrats.
Two, participation in Ponzi schemes is voluntary. Not so with Social Security. The government automatically withholds payroll taxes and “invests” them for you.
Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors — also called poor working stiffs — it raises taxes.
(Excerpt) Read more at pajamasmedia.com ...
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I second the motion:
Bravo, Rick Perry.
Amen. I think most of us are ready to be treated like grown ups now.
When Rick Perry has the gumption to responsibly point this out in public, we ought to be sending the guy thank you notes for clarity and leadership."
Right it’s time to end this Ponzi scheme and tell the young people to step up and care for their retired and ill parents. They will have to live with them like the days before SS. And their spouse’s parents too. Can’t forget them. After they pay off their student loan, they need to save enough for a McMansion as an old age home. After a while, Pro life people will be wondering why the growing interest in pulling the plug on the useless and all the money that would save. But there is still another group thinking that something called SS like they used to have may be a good idea again.
Actually the “greatest Ponzi scheme ever devised” hit a wall of 50 million abortions.
If those executions hadn’t taken place, SS would be in a lot better shape.
“When Rick Perry has the gumption to responsibly point this out in public, we ought to be sending the guy thank you notes for clarity and leadership.”
Perry has everything to gain and NOTHING to lose by remaining consistent in his statement about this.
I am sure seniors are beyond being manipulated and scared out ot their wits by Liberals, as in the past...THAT said-much more should be done to assure this does not become the dealbreaker for changes to SSS
Actually, abortions killed/murdered productive workers to pay for the Ponzi Scheme.
Amen! Bravo Rick Perry! and THANK YOU!
Social security is not a Ponzi scheme and Perry shouldn’t have gone there.
However, I hope he will be following this last debate and our country's again-interested focus on this issue from this past debate with understandable info as to some things we could expect as positive changes, ie a new plan for younger citizens, grandfathering older citizens, etc. Perry has a lot of folk, especially those under 40 or so and especially those in their 20s and 30s who know Perry is right on the mark. He can pick up those voters, but he'll have BETTER and more enthusiastic support if he provides some basic principles of what direction we could be going in the future.
Fear doesn't come from change as much as it does from not knowing what those changes might have to or could be.
By the way, is this where Perry gets his thoughts on Social Security being unconstitutional?
Two, participation in Ponzi schemes is voluntary. Not so with Social Security. The government automatically withholds payroll taxes and “invests” them for you.
Is this the thought? Just as Obamacare FORCES all individuals to purchase something, the government is forcing all individuals to, in effect, purchase an item, that being a specific retirement plan from the government.
Just wondering if that is where Perry's thoughts are coming from on that.
Thanks for any insight.
Actually, abortions killed/murdered productive workers to pay for the Ponzi Scheme.Exactly.
The Ponzi Scheme would have been solvent for at least another generation without those 50 million executions.
That comment is facetious. You know SS can't be ended...abruptly. But it CAN be fixed and needs to be asap!
I am thinking just the opposite...NO one will do one little thing about the Ponzi Scheme until we have a senate majority and a Republican in the WH...W wasn’t able with majorities but W didn’t have the mess Perry will be walking into. Changes will have to be made...little choice...
“Social security is not a Ponzi scheme and Perry shouldn’t have gone there.”
You are kidding, right? LOL!
I like your tagline, Perry/Cain’12, and might switch to it after awhile.
For now, I want to keep mine, and for now I’d rather not say why.
As for the Ponzi Scheme:
I was initially squeamish about this one but now I see the genius of what Rick Perry is doing.
As someone else here in FR posted: it’s called REAL CHANGE.
How many nursing homes, or assisted living facilities are there in this nation? Who do you think helps these people vote? LIBERALS will used, pervert whatever they can to scare whomever they can. Governor Perry needs to be very specific about what needs to change. I am all for changing this system...
How much money does it cost US to fund the Social Security Administration? AND how many people view the 'government' as banking friendly? And what business is it of 'government' to interfere with people saving any portion of their income.
explain to me how social security is a ponzi scheme.
BTW...I got really angry with W when he introduced a SS reform plan and then let it die without ever even fighting for it in his second term. Now when I watch Rove attack Perry for his comments I know who killed any hopes for reform in Bush'd White House. Keeping Rove around for 8 years was a huge mistake.
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