Why Social Security IS NOT a Ponzi Scheme
One simple reason: Social Security isn’t optional. Investing in a Ponzi scheme IS. You don’t HAVE to invest your hard earned money with Chuck or Bernie, but not so with Social Security. You and I have no choice but to sink our hard earned dollars … to the tune of 15.6% of our income before taxes, including the employer “contribution” … into the Social Security debacle, only to see those funds wasted on everything from $600 hammers to $600,000 vacations to $600 million pet projects for legislators.
Had the Social Security “trust fund” remain untouched, there might be hope. But for you and me and millions of younger workers, there’s simply no way it can be maintained in its present form.
Hopefully, the Rick Perry/Social Security dust-up will bring the program’s problems to the forefront and something positive will come of it.
What do you think? Do you believe Social Security in its current form will be there for you when you get ready to retire?