tag:blogger.com,1999:blog-8771666371746650057.post6822631248502985602..comments2023-11-03T05:34:26.880-05:00Comments on The Whited Sepulchre: Social Security, and other Ponzi schemesThe Whited Sepulchrehttp://www.blogger.com/profile/17657366124122012622noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-8771666371746650057.post-7253198186028499742009-01-03T23:00:00.000-06:002009-01-03T23:00:00.000-06:00So who's going to replace MY money?I hate to break...<I>So who's going to replace MY money?</I><BR/><BR/>I hate to break it to you, but it's not your money. If you're talking about the Social Security benefits you've been promised, they can only come from one source: taxes. Traditionally, that money comes from payroll taxes. But as Social Security starts to "redeem" the trust fund bonds, it will also draw money from income taxes.<BR/><BR/>If Bill Woessnerhttps://www.blogger.com/profile/08919844120431095879noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-54469794559625328432009-01-03T00:51:00.000-06:002009-01-03T00:51:00.000-06:00Ok, I'm with you. So who's going to replace MY mo...Ok, I'm with you. So who's going to replace MY money?The Whited Sepulchrehttps://www.blogger.com/profile/17657366124122012622noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-49642173289345247872009-01-02T17:31:00.000-06:002009-01-02T17:31:00.000-06:00TLG: only 11% misguided? The nicest thing anyone's...TLG: only 11% misguided? The nicest thing anyone's said about me on this thread. Thanks!<BR/><BR/>WS: Yes, the money is gone. It was duly handed over to a bunch of retirees (and a handful of people collecting disability). Most of it went to groceries, rent and the like, although a small percentage probably went to Lotto and Powerball tickets. This is a surprise?Dr Ralphhttps://www.blogger.com/profile/11315005375209513833noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-55933285556965141522009-01-02T10:46:00.000-06:002009-01-02T10:46:00.000-06:00Tax? Investment? Welfare? No matter which way y...Tax? <BR/>Investment? <BR/>Welfare? <BR/><BR/>No matter which way you slice it, the money is gone. <BR/>Where did it go? <BR/>Who has it?The Whited Sepulchrehttps://www.blogger.com/profile/17657366124122012622noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-44525114328209022712009-01-01T17:23:00.000-06:002009-01-01T17:23:00.000-06:00Dr. Ralphy-Paul Barrsky is about 7% right; 82% wro...Dr. Ralphy-Paul Barrsky is about 7% right; 82% wrong and 11% misguided. Where he's right? It is not an investment. Period. It is called a Social Security Tax. It is absolutely throwing money down a rathole. A rathole tax, if you will. He's right in that my money I give today benefits the elderly of today and yesterday... <BR/><BR/>Where he is wrong is that this is framed by the government asTarrantLibertyGuyhttps://www.blogger.com/profile/11624121038065257931noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-78262505280142962552009-01-01T12:14:00.000-06:002009-01-01T12:14:00.000-06:00ok, let's compromise:Social Security is a Ponzi Ta...ok, let's compromise:<BR/><BR/>Social Security is a Ponzi Tax.Browncoat Libertarianhttps://www.blogger.com/profile/17382947284829092569noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-37946524215965656462009-01-01T11:50:00.000-06:002009-01-01T11:50:00.000-06:00The doctor is right, social security is welfare, b...The doctor is right, social security is welfare, but it is wefare for the rich. It takes money from the most needy (the working young and those with families) and gives it to the richest in the population. <BR/><BR/>this from elderweb:<BR/>"The population age 65-74 saw their household assets increase by 74% during this 15 year period, from an average of $111,000 to $190,000, with the sharpest Festerhttps://www.blogger.com/profile/18282789796125211475noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-7534556610540624422009-01-01T11:47:00.000-06:002009-01-01T11:47:00.000-06:00My point: it's not an investment; it's a tax. Argu...My point: it's <I>not</I> an investment; it's a tax. Argue about it as such. <BR/><BR/>Would I ever voluntarily pay into SS? Absolutely, like I pay all my other taxes. But not with the expectation that SS alone is going to support me (that's why I'm putting money into what's left of my miserable 401k). <BR/><BR/>Will Social Security need to be changed/reformed? No doubt. <BR/><BR/>Am I an idiot? Dr Ralphhttps://www.blogger.com/profile/11315005375209513833noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-44166746457627512292009-01-01T11:19:00.000-06:002009-01-01T11:19:00.000-06:00And one other thing....I presented this as an eith...And one other thing....<BR/><BR/>I presented this as an either/or. You're not saying that you would ever ever ever voluntarily put money into the SS fund, are you?The Whited Sepulchrehttps://www.blogger.com/profile/17657366124122012622noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-49522148502536455472009-01-01T11:17:00.000-06:002009-01-01T11:17:00.000-06:00Dr.,You are missing my point. The money is gone. ...Dr.,<BR/>You are missing my point. <BR/>The money is gone. It wasn't supposed to be gone. <BR/>Who took it? <BR/><BR/>And I gotta disagree about the Ponzi analogy. <BR/>Social Security is now (unlike the original intent) totally reliant on the next generation of investors/suckers. <BR/><BR/>The fund is as empty as the Garden Tomb in Jerusalem.The Whited Sepulchrehttps://www.blogger.com/profile/17657366124122012622noreply@blogger.comtag:blogger.com,1999:blog-8771666371746650057.post-35460831289103870422009-01-01T10:12:00.000-06:002009-01-01T10:12:00.000-06:00Social security is not an investment: it is a tax ...Social security is not an investment: it is a tax we pay to provide (I'll say it) welfare for the elderly and disabled. Since it's a tax, not an investment, to label it a Ponzi scheme is more than a little misleading.<BR/><BR/>Now, you may not like taxes, and you may not like welfare, but at least call it what it is. Is it mismanaged? Perhaps? Does it need to be reformed? Probably. But Dr Ralphhttps://www.blogger.com/profile/11315005375209513833noreply@blogger.com