https://verdict.justia.com/2019/01/31/ponzi-schemes-how-they-work-and-what-we-can-learn
Who operates Ponzi schemes, and why?
The operators of Ponzi schemes are con artists, and often are characterized as narcissists. They may have an inflated sense of self-importance, a sense of entitlement, and an inability to empathize. Some analyze them as people who have self-loathing, counterbalance by extreme self-indulgence. They externalize sources of blame, deny wrongdoing, and blame others. They blame the government—for shutting them down when they otherwise could have turned business around.
They blame the victims for greed and sometimes for stupidity: “How could they believe me?” They believe that fraud is fair, because “everyone does it.” They believe they offset the fraud by doing good elsewhere, such as by donating or helping their communities.
100% will not happen.
neither party is going to CUT social security payments, period.
Democrats Joe Biden and Barack Obama should be able to completely destroy the United States of America before then...
I tend to believe the report that 650 planeloads of gold were confiscated from the Vatican and that it’s part of the plan to destroy the Federal Reserve and restore the wealth of Americans stolen from us by the cabal.
Always reports about Social Security money drying up. Never any reports about welfare money drying up. Why?
Time to kill off some more of us seasoned citizens.
2. All benefits to illegals need to stop with no exceptions.
3. Congress needs to pay back to social security funds that were diverted to non-social security programs.
Stop supporting illegals and foreign countries that hate us!
They’ll print it up before pissing off millions of voters.
Don’t be concerned - it is only Social Security that is intentionally going to run out of money.
The free stuff for illegals and slackers will continue to be fully funded with no upper limits.
OF COURSE its going to collapse in a decade.
Know how I know? I’m 54.
Therefore it is a metaphysical certainty to go bye bye just as I would collect my first nickel from it after having paid into it my whole life. Pretty much all Gen Xers like me knew this would happen and we all said so back in the early 90s. This is no surprise.
everyone’s social security savings should be placed in a special personal account that would not be available for withdrawal until 63 at the earliest.
that account would then receive all standard contributions going forward.
also, the account should be either invested in long term CDs to receive at least 3%... or invested in the S&P index fund.
and upon death, the remains of the account would go to the person’s estate.
analysis of such shows such accounts being sustainable for the average person’s contribution from the time they’re 18 to retirement.
100% of the Social Security Trust Fund has been loaned to the general fund and was spent.
There is no Trust Fund. Just a bunch of IOU’s.
Total US Government Revenues in the 2023 fiscal year were $4.44 Trillion from all sources. This includes Social Security and Medicare Taxes.
If you subtract the Social Security and Medicare Taxes, the remaining General Fund Revenue is $2.9348 Trillion.
Total General Fund Revenue of $2.9348 Trillion divided by our $35.6 Trillion debt is 8.5%. That means that if interest on the National Debt reaches 8.5%, it takes 100% of our General Fund Revenue just to pay interest with ZERO left to run the government.
Many of you remember rates of 15% to 20% in the early 1980’s thanks to Carter.
Welfare payments will be unaffected.
This has been known for decades and the subject of news every month. Unfortunately we do not have any leaders with cojones to do what is needed. One side thinks it should all be raise the retirement age and the other wants tax increase (only on “wealthy” of course). Reagan got it done in different era when people understood that compromise was needed to govern.
Personally I favor across the board tax hike of 1% plus retirement age increase, so that the libtard starbucks baristas understand this is not free. For 35 years I maxed out on SS tax so I will never get what I paid back. Already I essentially get $0 until age 67 because it all gets taxed back before that age.
Well, if the Demoncrats had not “raided” the trust funds all of these years we would be better off. When the Demoncrats rant and rave that the GOP wants to cut SS & Medicare, they should be mocked every time.
Notice that Social Security is the first(and often the only) thing spoken of when it comes to cuts. Not the funds send to foreign countries, or money spent to study the mating habits of quails hooked on cocaine. Nope, the narrative is always “we have to have more money” or we will have to cut social security.
Politicians have been robbing SS for years in order to fund other pet projects. Once the opened that “lock box” it was never locked again. They can rob from those projects to fund Social Security for a change.
When making projections experts always forget to include the “X” factor. X is the conditions or actions now unknown that would dramatically change the outcome. For instance, Trump is reelected, our economy gets rolling again, budget cuts are made, the drains on economy are deported, labor participation goes up, and suddenly SS funds are solvent once more.
for everyone except those who contributed, they should all be sent to the gallows
Quit p*ssing away money on Ukraine and other countries...