Social security isn’t an investment. It pays out more money then it takes in on an individual basis. Its using money from people currently paying in order to pay retired people. It doesn’t have the funds to pay the retirement of those currently paying. The federal govt estimates there is roughly a $119 Trillion unfunded liability from social security, prescription drugs and medicare.
Social security is a ponzi scheme and the bill is about to come due.
It is indeed a ponzi scheme, a giant immoral lie.
But the arguement that one receives more than one pays in is specious at best.
It has no bearing on the ‘good’ or ‘evil’ of SocSec.
Social security is a ponzi scheme and the bill is about to come due.
Yes. Social Security is welfare for conservatives, and we should stop acting like we I-paid-my-money-into-it conservatives are somehow different than the welfare queens we complain about. The government takes money from conservative Bob to give to conservative Bill in year 1. Then, 30 years later, conservative Bob takes money from conservative Ben. The government takes it from one party and gives it to another. It is a transfer payment. It is wealth redistibution. It is not a personal investment.
We cannot say we dislike entitlement programs and also demand that Congress not touch Social Security.
I’ll bet folding money you think Social Security should be means tested.