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Social Security

 
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PostPosted: Wed Sep 02, 2009 12:06 am    Post subject: Social Security Reply with quote

I'm sure, many have been brainwashed into believing Social Security is a Godsend. If you invested your Social Security money in an individual account instead, over 30 or 40 years (e.g. in mutual funds or ETFs), you'd retire with a monthly check several times larger than what you'll get from the government (which could be taxed to help the poor). Hedge fund manager Bernie Madoff went to prison for performing like Social Security.

From article:

Social Security does not make any real investments -- it just takes money from later "investors," or taxpayers, to pay benefits to earlier, now retired, taxpayers. Like Ponzi, Social Security will not be able to recruit new "investors" fast enough to continue paying promised benefits to previous investors. Because each year there are fewer young workers relative to the number of retirees, Social Security will eventually collapse, just like Ponzi's scheme.

Also, I may add, immigrants are needed to keep Social Security going.
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