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BocaHoo91

Joined: 06/03/2005 Posts: 31276
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It's even less of a pyramid scheme. In a pyramid scheme, as it expands,


more and more layers of the pyramid must be paid. The exponential growth of the pyramid causes it to eventually collapse. Social security has almost no characteristics of a pyramid scheme. There's only a single layer in social security. Current workers pay for current retirees. Future workers will pay for current workers when they retire. In a pyramid scheme, each new layer of "recruits" is paying for multiple layers of recruits that came before them.

You suppose could say social security is a forced, but sustainable "ponzi scheme" which lacks fraud (a key component of an actual ponzi scheme). But I have a hard time seeing how social security remotely resembles a pyramid scheme.
[Post edited by BocaHoo91 at 06/04/2016 11:24PM]

(In response to this post by Hokie5150)

Posted: 06/04/2016 at 11:23PM


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Current Thread:
 
  Obama: Let's make Social Security "more generous". -- JMHoo 06/03/2016 10:56AM
  Let's say we could efficiently set up a system whereby one could purchase -- CharlestonSC 06/03/2016 9:47PM
  What you are proposing would would help make people more financially secure -- ESHooFan 06/04/2016 10:46AM
  It would probably help those of us who don't need any help get more $$ but -- WahooRQ 06/04/2016 10:56AM
  There are already firms in the private marketplace who offer lower returns -- CharlestonSC 06/04/2016 12:19PM
  The "underbanked." Right. Not poor. Just lacking a bank account for some -- SixerHoo 06/04/2016 3:04PM
  You cheapen the validity of your arguments with the "ponzi scheme" comment. -- WahooRQ 06/04/2016 12:24PM
  Exactly. tens of millions of citizens just shake their heads -- 111Balz 06/04/2016 11:30AM
  Problem is there is no lock box just IOU's. The government uses SS payroll -- ESHooFan 06/04/2016 10:36AM
  I suspect most working people other than those of us with high-dollar -- WahooRQ 06/03/2016 3:43PM
  "Wealthiest" needs to pay more than a little more just to keep SS as is. ** -- JohnHoo2 06/03/2016 1:37PM
  There shouldn't be Social Security because (1) people aren't owed -- ryno hoo 06/03/2016 1:06PM
  It's only a "Ponzi scheme" if you don't know what one is. -- WahooRQ 06/04/2016 11:03AM
  Not explicitly, but I think society as a whole benefits from content -- JohnHoo2 06/03/2016 1:40PM
  Social Security was never intended to be a person's sole retirement plan... ** -- Hokie5150 06/03/2016 1:31PM
  I am a retiree and live of investment income no pension. So the only -- ESHooFan 06/03/2016 11:52AM
  I suspect the 6% investment tax would only kick in at -- BocaHoo91 06/03/2016 1:01PM
  Wow, a 6% tax on investment income. That would bring the -- BocaHoo91 06/03/2016 11:46AM
  Shouldn't he be asking why the 12.4% being paid doesn't already do that? -- Hoodafan 06/03/2016 11:30AM
  Great! Glad that he came around -- DanTheFan 06/03/2016 11:21AM
  Dan, u take apple polishing to a whole new level ** -- TomKazanski 06/03/2016 12:11PM
  Had a good chuckle listening to Barry recently..."Trumps paulacies (spelled -- Tuckahokie 06/03/2016 11:06AM
  The endless "just a little bit more" strategy ** -- HokieDan95 06/03/2016 11:05AM
  Retirement welfare. Surprised it took 7.5 years. -- Stimp 06/03/2016 11:05AM
  It's all good as long as someone else is paying for it... ** -- Hokie5150 06/03/2016 10:57AM

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