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<blockquote data-quote="Fred&#039;s Myth" data-source="post: 3207987" data-attributes="member: 55587"><p>Social Security is not a real retirement plan; it is a Ponzi Scheme. At best it doesn’t even <a href="http://www.forbes.com/sites/lawrencehunter/2012/04/01/a-libertarians-thoughts-on-the-double-bind-that-is-social-security/" target="_blank">promise</a> to pay a reasonable or even a positive rate of return anymore. But, that is a reason to put the operator of the con game in jail, not stiff the victims of the scheme by reneging on the promise when the perp has more than sufficient funds available to make good on the promise. And it certainly doesn’t justify excusing the Ponzi schemer of the responsibility to make good on the promise because he can’t meet that obligation and still keep up his other profligate spending. If keeping the promise means reducing other spending and selling off or mortgaging all the con artist’s assets, so be it. Promises made, promises kept is the very foundation of Anglo-American common law and political legitimacy.</p><p></p><p>Food Stamps, The Women, Infants and Children (WIN) program, Medicaid, agricultural subsidies and price supports, most refundable tax credits, federal deposit insurance, all are examples of federal government “handouts;” <strong>Social Security is not</strong>; it is a government-mandated Ponzi Scheme—a “giveback”—and there is a huge difference. The former invites you to take; the latter demands that you first give and then invites you to take back. It thus carries within it its own “moral justification.” None dare call it welfare. <em>FORBES Magazine.</em></p></blockquote><p></p>
[QUOTE="Fred's Myth, post: 3207987, member: 55587"] Social Security is not a real retirement plan; it is a Ponzi Scheme. At best it doesn’t even [URL='http://www.forbes.com/sites/lawrencehunter/2012/04/01/a-libertarians-thoughts-on-the-double-bind-that-is-social-security/']promise[/URL] to pay a reasonable or even a positive rate of return anymore. But, that is a reason to put the operator of the con game in jail, not stiff the victims of the scheme by reneging on the promise when the perp has more than sufficient funds available to make good on the promise. And it certainly doesn’t justify excusing the Ponzi schemer of the responsibility to make good on the promise because he can’t meet that obligation and still keep up his other profligate spending. If keeping the promise means reducing other spending and selling off or mortgaging all the con artist’s assets, so be it. Promises made, promises kept is the very foundation of Anglo-American common law and political legitimacy. Food Stamps, The Women, Infants and Children (WIN) program, Medicaid, agricultural subsidies and price supports, most refundable tax credits, federal deposit insurance, all are examples of federal government “handouts;” [B]Social Security is not[/B]; it is a government-mandated Ponzi Scheme—a “giveback”—and there is a huge difference. The former invites you to take; the latter demands that you first give and then invites you to take back. It thus carries within it its own “moral justification.” None dare call it welfare. [I]FORBES Magazine.[/I] [/QUOTE]
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