Social Security - Ponzi Scheme for the Rich

[howaboutme]

Limbaugh and others of his ilk often say that Social Security is a Ponzi scheme. What they fail to mention is that yes it is a Ponzi scheme, because it was a scheme used by the rich to bilk the average Americans who paid into it, while the wealthy received huge indirect benefits but paid little if anything into it percentage wise.

The Social Security trust surplus was used to fund all types of general budget items totally unrelated to its primary deemed purpose of retirement security, such as huge tax cuts for those of upper income on their dividends, estate taxes, investment income, and the multitudes of reckless wars, corporate welfare, enriching war profiteers, natural disasters. Had it not been used to run the country and benefit the rich, the fund would currently be in far better fiscal shape and the claimed problems would not exist.

The wealthy unfairly benefited from the fund surplus because their income is often untaxed for purposes of social security. It comes from real estate, dividends, carried interest treated as dividends, investments, and other interest, (and not taxed earned income) as do working class people who are required to pay a substantial portion of their income into the fund through social security payroll taxes.

The working class funded it while the investment class bilked it.