Chip Bok by Chip Bok

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  1. dtriedel

    dtriedel said, 11 months ago

    Right. This analogy does not hold up.

  2. BinaryWiener

    BinaryWiener said, 11 months ago

    Social Security is basically a Ponzi scheme. New young workers pay into the system but do not usually get their benefits immediately. Older and retired workers get benefits from the reserve.

  3. Corosive Frog

    Corosive Frog said, 11 months ago

    Social solidarity, ever heard about it? If the new fellow didn,t pay, he’d have to pay for his sick father anyway…unless he abandons him.

  4. jimmyHump

    jimmyHump said, 11 months ago

    Social Security is first and foremost a promise to the American citizen that they have a safety net. The government also backs corporate pensions. What happens when corporations can’t pay their pensions? The government picks up the tab through its pension insurance program. If the money isn’t there, the gov works it into its budget or deficit spending. What will happen when the funding system for social security falls short? The government will work it into its budget or deficit spending to live up to its promise. Do you have any doubt of that? I don’t. I do doubt, however, that people like Madoff will ever live up to their promises. And these are the folks you’d like to turn Social Security management over to by privatizing it?