Quote:
Originally Posted by Danzig
i know people like to say that social security is a ponzi scheme. but it's not. ponzi's fail when people stop paying in; i don't see any sign that they will quit witholding social security.
as for privatizing social security...banks and finance houses would LOVE to get their hands on that money, which should cause every person with any sense at all to immediately halt thinking privatizing would be a good thing. investments come with no guarantees-does anyone want to play with ss? i don't. it's not the only fund i will rely on at retirement. i want to not have to worry about it exploding like peoples pensions-does everyone want to join in the fun that enron retirees got to enjoy? where's their pensions?
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If only I wasn't on ignore, you'd be able to understand the meaning of ponzi. When it started, 30 people supported 1 person on it. Today we have 3 workers for everyone collecting. It is a ponzi. The benefits will be cut or better yet inflated away. That's why chained CPI is being discussed. Financial repression is a real thing, ie the whole point of ZIRP to begin with.