"Our Social Security system is the very definition of a Ponzi, or pyramid scheme."
Congressman Ron Paul
Constitutionalist Libertarian
Congressman Ron Paul
Constitutionalist Libertarian
"Some in our country think that Social Security is a trust fund, in other words there's a pile of money being accumulated…because you put money in the government saves it for you, and then when you retire you get it out…
That's just simply not true.
The money, payroll taxes going into Social Security, are spent.
They're spent on benefits and they're spent on government programs.
There is no trust.
We're on the ultimate pay-as-you-go system…
The only thing Social Security has is a pile of IOUs from one part of government to the next…, therefore when you have more retirees living longer for greater benefits with fewer people paying in, the system inevitably will go into the red."
George W Bush
That's just simply not true.
The money, payroll taxes going into Social Security, are spent.
They're spent on benefits and they're spent on government programs.
There is no trust.
We're on the ultimate pay-as-you-go system…
The only thing Social Security has is a pile of IOUs from one part of government to the next…, therefore when you have more retirees living longer for greater benefits with fewer people paying in, the system inevitably will go into the red."
George W Bush
1 comment:
Yeah, but Ron treated it as a contract right for those who already paid in and his budget balanced in 3 years not cutting a penny from SS or Medicare. He cut enuf elsewhere to yet the young opt out to end for those who hadn't yet paid in.
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