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re: Social Security - Help me understand better
Posted on 2/8/23 at 11:50 am to Tantal
Posted on 2/8/23 at 11:50 am to Tantal
quote:
It's a Ponzi scheme. The money that the boomers put in has already been spent. They're now using Gen X's money to pay the boomers. Then they'll use millenial/Gen-Z money to pay Gen-X, etc.
The reason it is not a Ponzi scheme is because what you describe above ie boomers and xers a zers is how social security has been sold since its inception. For it to be a Ponzi scheme the person promoting it would lie and say the money that was being paid out came from returns on investments. Social security has never been promoted that way....
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