Social Security: Ponzi scheme or not? I think we have to say it once was, but is no more, because Social Security was unmasked as a coercive transfer scheme long ago and critics remind us of that fact constantly. If everyone knows (or can easily find out) something is a Ponzi scheme, it’s no longer a Ponzi scheme. Anyone who thinks Social Security is insurance just isn’t paying attention.
Caveat adsiduus. Taxpayer beware.
Read the full TGIF: Ponzi Unmasked.