About ten or so years ago AARP magazine showed how the SS system is not a Ponzi Scheme. Ponzi schemes always collapse. Social Security has not therefore it is not a Ponzi scheme.
In the same issue, Jane Bryant Quinn showed how the SS was set up, and it was just like a Polzi scheme. She did not say it, but it showed it.
In looking at it, I see each generation will need to have three people paying to support one retiree. When those three retire they will require nine workers to support them.
When those nine retire they will require twenty seven workers to support them.
Right now there are 64 million Americans retired. Each has three workers supporting each one. Now figure 64 million x 3. It will require 192 million workers, and when those 192 million retire, X 3, 576 million. When they retire we will need that number X 3, we will need over a billion workers supporting them..
It is doomed to fail.
And we are aborting our future generations who would be paying into the system.
When Social Security was set up, the retirement age at which you could start to receive payouts was greater than the average age of death. That fundamentally changed a long time ago.
Most likely we will see means testing for social security benefits in the future and the ants will end up paying for the grasshoppers.