[Mr. K]

I think i am going to write a book on the history of social security - and include comments from the people who originally objected to it and how they were right all along and stuff

[Vigilanteman]

Four: If you lose your investment in a Ponzi scheme, you can at least deduct the loss from your taxable income when you file your IRS return. No deductions are allowed from income confiscated by Social Security.

[Bigh4u2]

One thing the author forgot to mention:

Once you start collecting SS, that’s taxed too!

[mo]

SS is at the same point that brought Bernie Madoff down a few years ago. Redemptions exceed wealthy suckers.

[sickoflibs]

RE :"Rachel Maddow and her MSNBC guests are scandalized that Rick Perry stuck to his guns that Social Security is a Ponzi scheme during the presidential debate tonight. “This kind of rhetoric will hurt him in the general elections,” they reassured each other. They didn’t flat out say that Perry was wrong, but actually he is. Social Security is not a Ponzi scheme. It is much worse."

I notice when the FICA/SS tax got cut ~ January, which Obama is calling for an extension of, both Dems and Republicans called it the 'payroll tax' cut giving no reference to Social Security which is now funded by new debt instead of those specific taxes, err I mean by those 'SS trust-fund' IOUs to itself.

[gleeaikin]

The SS tax is 12.4%. When did that happen? When I used to have self-employment income I think I was paying at least 15%. You mean they have actually lowered the rate??

[BuffaloJack]

Social Security = Ponzi Scheme at Gun Point

[Salvavida]

It turned into a Ponzi scheme for several reasons, not the least of which is the murder of over 40 million Americans via abortion that would be paying into the system.

So by taking life without regard to personal responsibility or sanctity of life: you have a social crisis built on a scheme that cannot recover, as it is written.

[Made In The USA]

Disagree with Mr. Maddows assessment, I believe telling the truth about a failed socialist concept will help Gov. Perry and any other candidate with the balls to tell it like it is. The electorate is a lot wiser and better informed than what the liberalette would expect. The clarity is there, and now we are coming together to defeat Marxists like barry obamo.

[this is my country]

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.

I don't fault the seniors or anyone else who has had to fork over money for years and earn enough credits to be eligible. What really gets me is the annual surplus was not for SS recipients, but to finance other perpetual government programs.

[BunnySlippers]

Bump