On 2/15/2015 1:06 AM, Baxter wrote:

SS is set up and works exactly the same as private insurance.


For your personal benefit, here's how the cow ate the cabbage as to why
SS is demonstrably NOT insurance.

Social Security is, by law and a SCOTUS ruling, a TAX, not an insurance
program.

The Supreme Court decision in 'Flemming v. Nestor' clearly states that
Social Security is NOT insurance, _as there is no contractual agreement
between taxpayer and government_ .

Insurance companies use premiums, a premium is not a tax and the
premium, and any deductible, is subject to a contractual agreement, not
so with Social Security.

Insurance companies invest premiums, and use the premiums to make a
profit by applying the 'law of large numbers', which states that "for a
series of independent and identically distributed random variables, the
variance of the average amount of a claim payment decreases as the
number of claims increases", and by using deductibles to offset
catastrophic loss.

Social Security does none of the above.

Liberals love, either through ignorance or malice, to call the SS system
"insurance", which is nothing more than sleight of hand a subterfuge to
mask the fact that it is a TAX.

However, to be charitable, the old saying particularly applies to this
issue: "Never attribute to malice that which is adequately explained by
stupidity"

If you want further argument, take it up with SCOTUS.

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