Wednesday, August 17, 2011


Thank you, Jonathan Bernstein:
Anyone who says that Social Security is a Ponzi scheme either misunderstands Social Security, misunderstands Ponzi schemes, is deliberately lying, or some combination of those.
I once nearly came to blows with someone on this very topic at a New Year's Eve party. Nice to know that, had Bernstein been there, he'd have had my back.


Anonymous said...

It may not surprise you that my father's been spouting this line, of late. Mrrrgh. I think the paranoia driving it is simply, if I pay in and it never pays out for, it'll surely have felt like a Ponzi scheme.

That, of course, is not the case with my father, who's collecting checks.

Anonymous said...

Sorry, editing. I meant, "if it never pays out FOR ME".