On Mon, 16 Feb 2015 14:05:05 -0800, "Lew Hodgett"
wrote:


"Baxter" wrote:

It's not a retirement savings program; it's an insurance plan
designed
to help the elderly, the disabled and their families stay out of
poverty.

As with many insurance plans, Social Security is set up primarily as
a
pay-as-you-go system.

http://tinyurl.com/pxbyct8

So when someone describes Social Security as a Ponzi scheme please
take
just a moment to consider this person's understanding of economics
or
better yet, his agenda.

http://tinyurl.com/mk4smyl

If SS is a Ponzi scheme, then every insurance company in the world
is a
Ponzi scheme. If using one person's premiums to pay another person's
claims freaks you out, you should keep your distance from Berkshire
Hathaway, too.

http://tinyurl.com/8zf2n9a
------------------------------------------------
Biggest impact on the SS program is tobacco IMHO.

How many hundreds of thousands of people who paid into SS all their
working
lives only to die from tobacco related diseases just a couple of years
before
they could start collecting benefits?

Another reason SS should never have existed. If I save that money, my
children, or whomever I choose, gets that money (more, actually).

All those funds just stay in the pot.

No, there _IS_NO_POT_.

Pretty standard actuarial table calculations in the insurance
business.

Sure, but SS is *NOT* insurance.