re: Universal income discussion

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I think SS is only a ponzi scheme because the government puts their dirty little hands on it. I have paid in 150k over the last 32 years, I started paying when I was 12. How much of a Ponzi scheme is it when I won’t even get what I paid in, much less, with any type of allowance for compounding interest.

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It's a Ponzi scheme in the sense that the original recipients paid nothing, and each subsequent generation of employed Americans is paying for the current retirees with no real guarantee that they'll get back what they were originally promised.

It might not be completely fraudulent but I'm sure there's plenty of fraud going on with that money too.

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A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors.

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