NewsNM Swickard - Anyone with any sense knows that the collection of money for Social Security was unhooked from paying that money into an annuity fund. Therefore, no money collected is ever saved to pay the premiums. Ponzi Scheme? Of Course it is. From the
El Paso Times - TAMPA, Fla. (AP) - Republican presidential hopefuls plan to use a televised debate Monday to press front runner Rick Perry to justify his criticism of Social Security, which has dominated the contest in recent days. Perry, the Texas governor, partly explained his remarks in an op-ed article in USA Today. Former Massachusetts Gov. Mitt Romney has sharply criticized Perry for calling Social Security's funding arrangement a "Ponzi scheme" and "monstrous lie" in a California debate last week.
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Rivals press Gov. Rick Perry on Social Security
NewsNM Swickard - Anyone with any sense knows that the collection of money for Social Security was unhooked from paying that money into an annuity fund. Therefore, no money collected is ever saved to pay the premiums. Ponzi Scheme? Of Course it is. From the El Paso Times - TAMPA, Fla. (AP) - Republican presidential hopefuls plan to use a televised debate Monday to press front runner Rick Perry to justify his criticism of Social Security, which has dominated the contest in recent days. Perry, the Texas governor, partly explained his remarks in an op-ed article in USA Today. Former Massachusetts Gov. Mitt Romney has sharply criticized Perry for calling Social Security's funding arrangement a "Ponzi scheme" and "monstrous lie" in a California debate last week. Read more
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1 comments:
If it's a pension plan run by a corporation and it isn't funded... it's perfectly appropriate to call it a Ponzi scheme. If the government is doing the same thing, it's blasphemous to call it a Ponzi scheme. Why? Politicians would have you believe the government is more reliable and efficient than corporations. Can someone explain this with any measure of logic?
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