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View Diary: Maddow: Did America Get Punked On the Bailout? Yes...Now Here's What to Do. (50 comments)

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  •  Jay Leno said our Social Security system (0+ / 0-)

    is a huge Ponzi scheme.

    •  Social Security is not a Ponzi scheme. (5+ / 0-)
      Recommended by:
      alizard, BYw, fernan47, doc superdog, Johnny Q

      There is no promise of (extraordinary) returns in Social Security, and it is, or at least can be, indefinitely sustainable given: (1) proper demographics (i.e., a high enough ratio of workers to collecting retirees), and (2) a sufficient tax rate and base (i.e., high enough tax on sufficient amount of income and/or wealth to raise revenue to pay collecting retirees).  If anything, if could be characterized as "robbing Peter to pay Paul," as people working today pay for the retirements of people who worked yesterday with the expectation that people who work tomorrow will pay them, etc.  But it is no Ponzi scheme.

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