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Old 06-15-2020, 07:43 AM
 
10,547 posts, read 4,580,802 times
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Quote:
Originally Posted by djohnslaw View Post
Social Security started at 1 percent and now it's 6.2 percent from both the employer and employee. If they left it at 1 percent it would have long ago completely collapsed. If people weren't forced to contribute it would completely collapse. If Madoff could have forced people to cough up 12.4 percent of their salaries he could have kept his scam going too. Eventually SS going to completely collapse. Maybe it will be after 100 years. Maybe after 120 but it's definitely going to collapse. Honestly Madoff keeping his scam going for 30 years is far more impressive than SS going for 80.

Madoff and Ponzi ended up in prison because what they did was illegal. The gov't saying something is legal doesn't make it sustainable or not a scam. It absolutely is Ponziish in nature.
SS can be sustainable due to the fact that at the Federal level money can be created. And of course not just SS, but any federal program.
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