How Social Security is Like a Ponzi Scheme

[Are_grits_groceries]

http://motherjones.com/mojo/2011/08/social-security-not-ponzi-scheme-venn-diagram

Word!

[Kalidurga]

1. Good diagram

If only everyone in the US would look at it...

[Lasher]

2. Did you mean to title your op, 'How Social Security is NOT Like a Ponzi Scheme'?

Your chart and linked article demonstrate that it is not.

[Are_grits_groceries]

4. As the diagram visually illustrates,

there is one way SS is like a ponzi scheme. Both are referred to with term Ponzi scheme by Rick Perry. That is the point of the Venn diagram. It is the only way the 2 are related.

[liberal N proud]

3. But if you repeat a lie enough times, the simple people believe it

[Enthusiast]

12. And if we have anything in great abundance,

it is simple people.

[malaise]

5. K & R

Perry is a lying ReTHUG scumbag - and then some

[freshstart]

8. I agree about Perry....

but he stole the line from Ron Paul and Paul's campaign manager from the Cato Institute - Doug Bandow (the one connected to criminal Jack Abramoff.)

FREE and Freeman are both connected to Ron Paul...from 2002:
"Uncle Sam’s Retirement Scam -The Social Security Ponzi Scheme Is Crumbling"
http://www.thefreemanonline.org/columns/uncle-sams-retirement-scam/

Bandow wrote columns in favor of Abramoff for cash:
http://www.businessweek.com/bwdaily/dnflash/dec2005/nf20051216_1037_db016.htm

http://www.pittsburghlive.com/x/pittsburghtrib/s_405491.html

The Businessweek article above also points out "Ferrara, who has been an influential conservative voice on Social Security reform, among other issues, says he doesn't see a conflict of interest in taking undisclosed money to write op-ed pieces because his columns never violated his ideological principles."

It seems there have been payments to those who push those ideas and most of the GOP candidates seem to be working in concert to push these ideas.

[malaise]

9. Thanks for the links

and welcome to DU :hi:

[freshstart]

10. Thank you!

[Historic NY]

6. Its getting so bad SS has to have its own debunking web site.

http://www.ssa.gov/history/ponzi.htm

[jtown1123]

17. See here too:

http://www.ncpssm.org/truth_squad/index.php

[tsuki]

7. 401K's are a Ponzi scheme. nt

[dionysus]

18. lol, not really.

[SoCalDem]

11. Parenthood is a ponzi scheme

parents give & give & give some more, and only hope that in the end, the kids will give some back

[Javaman]

13. cement head perry is trying his best to present SS as a ponzi scam like

how end of life counseling was presented as death panels to the tea baggers.

and like most things cement head does, he will fail miserably. Only this time he won't have his LT Governor there to help him.

I don't think little ricky honestly knows the hornets nest he's put his hand into.

[econoclast]

14. According to the SEC website...

What is a Ponzi scheme?

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.

Why do Ponzi schemes collapse?

With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue. Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out.


Hmmmmm

SS is an investment scheme that involves the payment of purported returns to existing investors from funds contributed by new investors.

SS mandates contributions of new money to make promised payments to earlier-stage investors

SS requires a consistent flow of money from new investors to continue.


There is at least a family resemblance.

[bullwinkle428]

15. K&R. I hope this douche keeps repeating it frequently enough

that it ends up being his "Mr. Gorbachev, tear down this wall" sig-line!

[jtown1123]

16. Please change your title. I came here to unrec at first. n/t