Hello all. I've received on of those right wing chain mails forwarded from my dad. This one is pro Perry, and uses some superficial annuity math to support the claim that Social Security is a Ponzi scheme.
It also over exaggerates what's spent on foreign aid. The e-mail is copied below. Thanks! I plan on replying to "all."
My first inclination is to state that it is not a Ponzi scheme, and that it's not anywhere near being "broke." I'll also ask whether they propose to replace it with... nothing, or private plan where the individual gets clobbered by fees.
Social Security has a low administration cost.
I'd also like to mention that Social Security has been incredibly successful at alleviating poverty. I've seen a graph somewhere around here.
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