Or maybe I'm genuinely interested in other people's opinions on different topics, and I challenge those opinions to increase my own knowledge and gain a more complete understanding of other perspectives. I'm not looking to make topics with long posts to act like some all-knowing genius educating the masses. I'd rather discuss a topic and see where it goes.
As far as I am aware, the benefit of a nationwide pension scheme is to benefit from a growing population, where the growth rate of the populous is higher than the market interest rate. and I vaguely remember my econ professor saying that pension schemes are, in a sense, ponzi schemes, except the latter is meant to outright defraud people, and the former actually works in real life.
If this is indeed true, you should have no trouble now admitting that your implied perception that Obamacare and Social Security were ponzi schemes were incorrect and that you now have a better understanding.
Umm, none of this is true. SS trust fund money is all invested in US government bonds, as they always have been. No SS money has been put into "bad" investments.
Oh, okay. I thought you intimated that the Affordable Care Act and Social Security were criminal enterprises. My bad, please proceed.
There was nothing implied. It was simply a question. I asked because I can certainly see how it is similar. I have not been convinced that SS is not a pyramid scheme. I mean, that's the whole issue with why it's broken. They aren't going to have enough people paying in to pay out to the people at the top.
"Concern" isn't the right word. I'm interested in other perspectives. I generally like to ask questions or make a statement about a topic that I kind of think may be true but I'm not fully convinced of. I want other posters to try to prove it wrong and debate the point. If a good argument is made, I have no problem changing my opinion or at least being able to see it both ways. Debating a topic I'm not fully sure about increases my knowledge about that topic. If somebody raises a good point, I'd then research a rebuttal to that point. Then they'll come back with a response to that, etc. It's a way to more fully understand where each side is coming from.
Social Security has been paying out the "people at the top" for more than 70 years. As Mark has stated, as structured, it's solvent for decades. Can you cite any "ponzi" scheme ever, in all of history, that had similar results?
Broken? Just lift the maximum taxable income income so that someone earning a million dollars pays the same rate as someone making a hundred thousand dollars, 6.20% on all income. done foreva
The problem with other Ponzi Schemes is that they are voluntary. The government forces people to pay in. That's why it has lasted for as long as it has.
No, the problem with other "ponzi schemes" (note that I do not agree SS is a ponzi scheme) is that they are fraud.
The entire tax system of every developed country is a ponzi scheme? You really have no clue what a ponzi/pyramid scheme is? You just saw these terms connected to social security and thought "That sounds cool."
