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Open Discussion Discuss The far right and the far left at the General Forum; definition of a Ponzi scheme - Investopedia Ponzi Scheme A fraudulent investing scam promising high rates of return with little ...

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  #61 (permalink)  
Old 09-07-2017, 05:42 PM
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Default Re: The far right and the far left

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definition of a Ponzi scheme - Investopedia

Ponzi Scheme

A fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors.
Looks like one to me....
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  #62 (permalink)  
Old 09-07-2017, 05:49 PM
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Default Re: The far right and the far left

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Originally Posted by GottaGo View Post
Looks like one to me....
Well, A lot of people have benefited from this one. We will disagree but it isn't going to change.
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Old 09-12-2017, 04:03 PM
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Default Re: The far right and the far left

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Originally Posted by Mikeyy View Post
A ponzi scheme is not designed to pay everyone over 62 a stipend
Social programs are the classic example of Ponzi schemes. They depend on those paying to fund those receiving with the expectation that they ones paying will eventually be on the receiving end. That is until the politicians stick their hands in the kitty and enrich themselves.
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Old 09-13-2017, 10:45 PM
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Default Re: The far right and the far left

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You can keep going on but really the right would put us all where we were in the 1930's if they had their way.
I believe they would go back to the twenties and wreck things even more!!
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Old 09-13-2017, 11:26 PM
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Default Re: The far right and the far left

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Originally Posted by ShivaTD View Post
There's no contract and there's no annuity.

Social Security is a government welfare program. It generates revenue from taxation and then uses that revenue to fund current expenditures. There's no contract and the person has no vested interest in any of the tax revenues collected. Social Security exists solely upon the will of Congress and can terminate any or all of the benefits at any time for any reason that Congress decides. All of the tax revenues would simply become general revenue for the government.
It is now./ It was not sold as such. It was sold as a retirement program. Like most things government, give them a pile of money they will find a way to spend it. There may not be a formal contract. I'm not sure. But there is an understanding.

BTW, government disagrees with you concerning FICA. Government calls it a contribution.
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Old 09-20-2017, 05:21 PM
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Default Re: The far right and the far left

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Originally Posted by Mikeyy View Post
I like Social Security. I think there should be means testing for drawing it. It's the best thing we have done for people in this country.
Who will get your SS checks? I know a good dog rescue that could use it.
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