Social Security is sort of a ponzi scheme but if they would stop raiding it for other purposes, it would be a lot better. Isn't the system in Chile rife with fraud and graft?
L
onge
C
ity
Advocacy & Research for Unlimited Lifespans
Posted 07 July 2012 - 05:51 AM
Posted 07 July 2012 - 01:31 PM
Edited by Mind, 08 July 2012 - 10:43 AM.
Posted 08 July 2012 - 02:51 AM
Social Security is sort of a ponzi scheme but if they would stop raiding it for other purposes, it would be a lot better. Isn't the system in Chile rife with fraud and graft?
Posted 08 July 2012 - 03:29 AM
I disagree, side with niner here: When Social Security was enacted the life expectancy at retirement age was about five years. It is now more than double that. Raising the retirement age to track greater life expectancy, or having a rapidly increasing population of young workers would easily solve that actuarial problem......
If Bernie Madoff had a rapidly increasing population of "new investors" he wouldn't be sitting in jail right now. The U.S. Social Security is a ponzi scheme. I don't like saying it Maxwatt. I am just going by the definition of a ponzi scheme.
Also, wouldn't you agree that it is a perverse incentive for having kids, increasing the population of an already burdened and polluted planet, just to keep alive a failing and seriously flawed "retirement system"? If we want to be more sustainable, we should encourage systems like exist in Chile and Australia. The U.S. faces tough choices, but we should be thinking about the future.
Posted 08 July 2012 - 11:00 AM
Social Security is sort of a ponzi scheme but if they would stop raiding it for other purposes, it would be a lot better. Isn't the system in Chile rife with fraud and graft?
Ponzi schemes can't be made sound by relatively small tweaks, like changing the COLA base from CPI to wage growth, and making small changes to retirement age. Social Security isn't a Ponzi Scheme. Social Security is not being "raided". That's a myth. Language like that detracts from the real issues of how much people should pay for SS and how much people should benefit from it. We should be considering issues of basic fairness and how much debt we can safely pass on to our descendants. And what the hell does Chile have to do with anything? We're talking about America.
Edited by Mind, 08 July 2012 - 11:01 AM.
Posted 08 July 2012 - 11:29 AM
I disagree, side with niner here: When Social Security was enacted the life expectancy at retirement age was about five years. It is now more than double that. Raising the retirement age to track greater life expectancy, or having a rapidly increasing population of young workers would easily solve that actuarial problem......
If Bernie Madoff had a rapidly increasing population of "new investors" he wouldn't be sitting in jail right now. The U.S. Social Security is a ponzi scheme. I don't like saying it Maxwatt. I am just going by the definition of a ponzi scheme.
Also, wouldn't you agree that it is a perverse incentive for having kids, increasing the population of an already burdened and polluted planet, just to keep alive a failing and seriously flawed "retirement system"? If we want to be more sustainable, we should encourage systems like exist in Chile and Australia. The U.S. faces tough choices, but we should be thinking about the future.
We live in different worlds; from where I sit, what you say isn't right, but it isn't even wrong.
Lets replace the word "government" with "the King".
Then anti-government statements take on a different meaning. Some things become clearer. And we replaced Kings with democracy, so instead of "King" say "We the people."
As for fiat currencies: they work well when the priviliged classes want them to. When they don't, they figure out how to blow them up. They don't collapse by themselves when well-managed.
Posted 08 July 2012 - 12:03 PM
Posted 08 July 2012 - 08:45 PM
Social Security is sort of a ponzi scheme but if they would stop raiding it for other purposes, it would be a lot better. Isn't the system in Chile rife with fraud and graft?
Ponzi schemes can't be made sound by relatively small tweaks, like changing the COLA base from CPI to wage growth, and making small changes to retirement age. Social Security isn't a Ponzi Scheme. Social Security is not being "raided". That's a myth. Language like that detracts from the real issues of how much people should pay for SS and how much people should benefit from it. We should be considering issues of basic fairness and how much debt we can safely pass on to our descendants. And what the hell does Chile have to do with anything? We're talking about America.
I have been trying to bring up examples of more efficient, equitable, and/or just systems of benefits that other countries use. I don't see any harm in that. Maybe Americans could learn something.
Bernie Madoff could have absolutely tweaked his payouts and survived a lot longer. Social Security is not an investment. It has no true assets. If current employees/workers did not pay into the ponzi scheme it would absolutely collapse. Shortfalls would have to come from general funds-taxes. I know everyone wishes it was more of a true retirement account (like an asset). I know it has been sold that way for years, but it just isn't. The sooner corrupt politicians and SSA itself stop selling it as "retirement", the better off we will be - the sooner it can be reformed.
Posted 08 July 2012 - 09:11 PM
How about running the basic medical care in a socialistic way, i.e. without an ulterior profit motive?If a single payer system comes to the U.S., the MEDICAL care system will be over-run with tens of millions, maybe over 100 million people who are sick because of their lifestyle.
Posted 08 July 2012 - 10:49 PM
Posted 09 July 2012 - 01:00 AM
Posted 25 August 2012 - 10:41 AM
How about running the basic medical care in a socialistic way, i.e. without an ulterior profit motive?If a single payer system comes to the U.S., the MEDICAL care system will be over-run with tens of millions, maybe over 100 million people who are sick because of their lifestyle.
Posted 26 August 2012 - 02:17 PM
Well yes it does, and way better than your broken system that is contributing to your fiscal problems.Yeah that always works.How about running the basic medical care in a socialistic way, i.e. without an ulterior profit motive?If a single payer system comes to the U.S., the MEDICAL care system will be over-run with tens of millions, maybe over 100 million people who are sick because of their lifestyle.
0 members, 1 guests, 0 anonymous users