Change my mind.
Ponzi scheme: Pay old investors with new investors.
Use percentage of investment for personal use.
Inevitably loses more money than it makes.
Social secuirty does not pay you back what you paid in.
It is tax evasion to opt out of it
By the time you get it, whatever you had paid in over the 45 years or so you paid in is severely inflated.
Prove me wrong fags.
It does pay back what you paid in because the SS fund is managed to keep up with inflation and also it's not supposed to be taxed because it's a retirement fund and social safety net managed for the public benefit you retard
Then why is it losing money then? It should be completley even.
Prove you get an adjusted amount back. You don't even get the same amount back.
You really think your money just sits in a personal bank account somewhere? It goes into the pile like everything else.
Even if none of this was fact. HOW is it not a ponzi scheme? You realize madoff made.all of his investors very happy for over a decade right? They all thought he was a wizard.
So the very first receivers of social security - what did they put in?
It's a ponzi exit scam that'll fail once we stop expanding our population
not only is it paying people back, but it pays people back FAR more than is realistic and FAR more than most people ever put in, and FAR more than is affordable.
My mother is living off of my dad's 35 years of labor. In the 1960s and 1970s, his paystub SSI deduction would have been absolutely miniscule....my mother collects about $1800 per month. If she lives as long as her mother, she will have been on SSI for more than 40 years (including the 7 years that I was given survivor benefits when my dad died before turning 18)---the amount of taxes that my dad paid on his labor are not even close to what my mom will collect in her lifetime. That is why it's a ponzi scheme. The amount these boomers collect no longer correlates to what they paid in....and it hasn't for a long long time.
The actual amount of payroll taxes required to make a system like SSI sustainable is completely unpalatable, which is why you only pay about 6% and your employer pays the other 6%--but only on wages up to 128k.
It's a ridiculous system that has been mismanaged, and politically speaking, it has to pay people FAR more than they are actually worth---the cost of living is far too high for what your true SSI payment should be.
I like to play a game called "what horrific policy will collapse the economy first."
Yes, there is no way you can keep boomers alive with the pennies they were contributing to it before retirement, no matter what jew magic you use.
....SSI is different than retirement SS.
You can get on SSI if you're disabled.
That's just welfare and has 0 to do with your hard working relative.
and yes, I understand that you do not pay a 1:! ratio, there are growth factors....I know this. The growth factors and multipliers on SSI are absolutely ridiculous. This is a system from an era when you worked for 40 years, played golf for 3 to 5 years then died a smoking-related death at the age of 70 or 72.
Of course it is... and not only that, it's (((their))) go-to argument for bringing more and more immigrants.
I use "SSI" as a term because that is what people are used to hearing. I am referring to the primary insurance amount "PIA". I deal with SS on a daily basis for work.
>why is it losing money then? It should be completley even.
Maybe because there's more old people than there are young people? This is a problem in every developed nation, and the difference between this and a Ponzi scheme is that there is no Madoff profiting, it's being run entirely for the people who voted for it (i.e the citizens of the US).
Oh there it is, found it.
Nigga I wasn't even a strand of DNA in the 1940's!
Madoff didn't force anyone to invest, he tricked them. It wasn't illegal to opt out.
Or it was because FDR was actually just a fascist without the genocide. See how Hitler praised him and the American National Socialists loved him. Along with how if the Japs never attacked he would of just let them win.
This is what a socialized medical system does in a way. My grandma is 94 years old and had a heart attack earlier in the year. In Canada she would have died because she would not have been treated---they would not have run the necessary tests as she did not have typical heart attack symptoms. It would have been pain killers and go home.
But in the USA.....within an hour and 15 minutes of dialing 911 she was at the hospital in surgery having stents replaced. From August to December, Medicare has covered $182,000 from my grandma's hospital and rehab bills. This is why these are not sustainable systems.
Can't change your mind because you're right.
Social Security is a ponzi scheme and is going to cause a huge catastrophe for the baby boomer generation.
it obviously is. boomers are going to burn in hell. except hell isn't physically real so it's more like their descendants are currently burning in the hell of having their income stolen to finance grandpa's 3rd vacation this year.
Recently had to deal with the Canadian medical system, it wasn't an emergency per say, but it was serious. Granted it's the worst time of the year to be in a hospital, we had to wait 2 days and a half in the emergency to then be moved to a bed in the actual hospital.
While there, I saw the prices for non-citizens and wondered why Americans don't cross the border to get some cheap care, it's like 6-7k for an hospitalization.
The biggest reveal that SS is theft is that your kids don't inherit it when you die. Social Security killed generational wealth.
>From August to December, Medicare has covered $182,000 from my grandma's hospital and rehab bills.
the true cost is far less, and part of the expense is to cover unpaid bills from illegals wandering over to shit out kids with god knows what deformities parasites and viruses unknown to civilization, and to swell the bank accounts of tribesmen.