[ApesForEvolution]

Social Security is the largest Ponzi Scheme ever invented, sponsored and propagated by our very own government. Yet the only people getting rich are bureaucrats? Not even a good Ponzi Scheme...

[PistolPaknMama]

bump to read later

[MeneMeneTekelUpharsin]

Social Security is the largest Ponzi Scheme ever invented, sponsored and propagated by our very own government. Yet the only people getting rich are bureaucrats? Not even a good Ponzi Scheme...

You are so right, I promise.

[litehaus]

DARN! Even the APES know.....how come people don't? LOL...

[Mr. K]

SS was not originally a Ponzi Scheme, but it has turned into one...

It was originally a simple money grab. The original retirement age of 65 was signed into law at a time when the avg. life expectancy was 56. Seriously. And people fell for it.

They politicians thought they would never have to pay anything out. But as the avg life extended well into the 70's we now have the younger genration paying the old folks' CURRENT retirement needs (the spent all the money they took in)

[pepsionice]

Almost every single western nation is now looking over their national pension program and they all fall into the same category...as long as the national populations were increasing...the pensions worked...when the national populations decrease, then the whole thing starts to fall apart. France, England, and Germany are in the same category. All are starting to change...add six additional months onto retirement...increase the personal contribution by 1 percent...limit use of pension by folks with 'other' investments...etc. Unless you can change the birthrate, they all will suffer and eventually fall apart.

After living in Germany for 10 years, I can see first hand the whole pit that folks fall into. Almost everyone is counting on the national pension program. Only a small number of citizens (probably less than 10 percent), have a investment program on the side. Most companies offered a minor-league chance...buy special company stock...at a special rate...and sell it later in life. Of course now, as the person is getting up to 65...the stock they thought might be worth $50k (as a slight cushion) is barely worth $10k and they would have done better with just a plain savings account. Politicans are in deep stew over the entire issue but they cannot possibly allow the national pension program to go into a major overhaul.

One has to wonder how America survived until the 1930s without a social security program. What held this fragile nation together and helped people survive their senior years?