Yeah yeah…and we had to destory that village to save it, right?
First of all, a Ponzi scheme is an investment scheme. The idea is that you claim to pay people out of the investments you make with the money they give you, usually promisng a hefty dividend. ( The original Ponzi scheme, for example, promised investors a 50% return on their money.
In fact what happens is. you pay the early investors with the money you get from new investors, whose bonds have not yet come due. ( Robbing Peter to pay Paul )
Now, I know what you’re going to say, I just described Social Security, right?
WRONG! Social Security is not, and has never ahs been an investment scheme ( though that’s what it will become if it’s ever privatized ) It’s an INSURANCE PLAN…and it has never promised people a huge return on their payroll taxes.
It’s also got enough money to remain solvent until at least 2037…so why all the sceaming from the right that it needs to be ‘fixed’ right NOW?.
But what I really love is hearing a guy who constantly touts himself as a Christian dismissing the people on Social Security as ‘leeches’.
Four words for you Harley, you’re gonna be hearing ’em again someday.
Yeah yeah…and we had to destory that village to save it, right?
First of all, a Ponzi scheme is an investment scheme. The idea is that you claim to pay people out of the investments you make with the money they give you, usually promisng a hefty dividend. ( The original Ponzi scheme, for example, promised investors a 50% return on their money.
In fact what happens is. you pay the early investors with the money you get from new investors, whose bonds have not yet come due. ( Robbing Peter to pay Paul )
Now, I know what you’re going to say, I just described Social Security, right?
WRONG! Social Security is not, and has never ahs been an investment scheme ( though that’s what it will become if it’s ever privatized ) It’s an INSURANCE PLAN…and it has never promised people a huge return on their payroll taxes.
It’s also got enough money to remain solvent until at least 2037…so why all the sceaming from the right that it needs to be ‘fixed’ right NOW?.
But what I really love is hearing a guy who constantly touts himself as a Christian dismissing the people on Social Security as ‘leeches’.
Four words for you Harley, you’re gonna be hearing ’em again someday.
1. I
2. Never
3. Knew
4. You