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“Calling Social Security a Ponzi scheme should be disqualifying for a candidate for Congress. Social Security has been paying benefits for 85 years — on time and the full amount,” said Jim ...
More than 2 in 5 Americans under 60 believe Social Security is a Ponzi scheme, according to a new survey, while 7 in 1o don’t expect much — if any payout — from the entitlement program when ...
“The truth is undeniable, the workers of America have been forced to invest a sixth of our wages into a huge Ponzi scheme,” Trump wrote in the 2000 book, “The America We Deserve.” “The ...
In the case of a traditional Ponzi scheme, the fact that there is no return-generating mechanism other than contributions from new entrants is obscured [181] whereas the Social Security scheme is designed to have payouts openly underwritten by incoming tax revenue and the interest on the Treasury bonds held by or for the Social Security scheme ...
The Social Security debate in the United States encompasses benefits, funding, and other issues. Social Security is a social insurance program officially called "Old-age, Survivors, and Disability Insurance" (OASDI), in reference to its three components. It is primarily funded through a dedicated payroll tax. During 2015, total benefits of $897 ...
Ponzi schemes sometimes begin as legitimate investment vehicles, such as hedge funds that can easily degenerate into a Ponzi-type scheme if they unexpectedly lose money or fail to legitimately earn the returns expected. The operators fabricate false returns or produce fraudulent audit reports instead of admitting their failure to meet ...
Warren Buffett, Charlie Munger were once asked if Social Security is a 'government-sponsored Ponzi scheme'. Here's how they responded — plus how to ensure your retirement is secure
A shareholder once asked Warren Buffett, Charlie Munger if Social Security is a 'government-sponsored Ponzi scheme for retirees' — their answer was received with laughter and applause