Rick Perry: SOCIAL SECURITY Is a " PONZI SCHEME ".

[Segami]

Run time: 00:43 https://www.youtube.com/watch?v=7hubgJVp8H0   Posted on YouTube: August 28, 2011 By YouTube Member: ThinkProgressVideo Views on YouTube: 598   Posted on DU: August 29, 2011 By DU Member: Segami Views on DU: 2184

 
:mad: :mad: :mad:


TPM:


" We could be witnessing the latter scenario when it comes to Texas Gov. Rick Perry (R) and one of the nation's most popular government programs. Last week, Perry's campaign spokesperson took to the Wall Street Journal to help back Perry off the less election-friendly sections of his book, Fed Up!. That includes Perry's suggestion that Social Security is an unconstitutional scheme which should be privatized post-haste.


Over the weekend, Perry walked all that back and fired off some more fiery rhetoric about the perils of the entitlement program that most Americans do not want to see changed.


"It is a Ponzi scheme for these young people," Perry said in Iowa, mimicking his pre-presidential campaign language on the subject of Social Security.


"The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry added. "It is a monstrous lie on this generation, and we can't do that to them."


What's more, Perry also said "I haven't backed off anything in my book." Not surprisingly, Democrats jumped all over the quotes, sending them out to reporters Monday.


Perry's re-embrace of the Social Security-as-Ponzi scheme thing is likely to endear him further to the tea party types who already support his campaign in big numbers. But polls have shown even the tea party doesn't want to see cuts to Social Security, showing just how dangerous grabbing onto this particular political third rail can be.


So Perry's got a dilemma -- does he stick to his guns on Fed Up!, giving him the sort of "genuine" cred conservative voters crave in a primary candidate? Or does he go the way his staff seems to be suggesting, which frees him from attack-ads-in-a-can like the Ponzi Scheme line? For now it looks like Perry's more interested in staying "real" than becoming more electable.





http://tpmdc.talkingpointsmemo.com/2011/08/rick-perry-social-security-is-in-fact-a-ponzi-scheme.php?ref=fpa

[mckara]

1. It is a Sort of Ponzi Scheme, But Not to Cheat Investors

Social Security exemplifies citizens of a nation and society committed to helping each other.

[Paranoid Pessimist]

3. And the Wall Street Stock Market ISN'T a Ponzi Scheme? n/t

[SnakeEyes]

9. I'm not sure you understand

the meaning of ponzi scheme.

[blank space]

5. What ?

Its not "A sort of ponzi scheme", its a form of legitimate saving.

[mckara]

7. Read About Ponzi Schemes

There are some overlapping characteristics, i.e. using the investments of newer members to pay existing retirees. Don't be naive.

[SnakeEyes]

8. It's only saving

if the money you are giving the government is actually be saved as opposed to being spent, which is what occurs now.

The reason it's called a ponzi scheme by the right is simple. Previous generations had money taken out by the government for SS with a promise of future payouts. The government used those generations's money to pay the current retirees of their time (including a generation that never had much taken). When those generations retire (as is occurring now) the money taken from you is being given to them. You receiving payouts when you retire will be dependent upon the government being able to take in enough money from the next generation. If you play the word replacement game you just described a ponzi scheme. In order for it not to collapse it's dependent upon new "investors" to pay off the older ones.

The difference between a ponzi scheme and SS depends on your faith in the government continuing to take a greater chunk of workers's money in order to pay out the increased number of retirees which is necessary since the trend is increasing retirees outpacing new workers. Or in fixing social security so that the money you put in actually goes into a trust that won't get raided by politicians

[Pharaoh]

2. divide and conquer

that's how they operate.

[sulphurdunn]

4. What happens if Rick Perry

gets elected and is raptured while in office? Technically, he wouldn't be dead or incapacitated or in any other way unable to perform his duties unless being in Heaven rather than Washington or Texas is a problem. Being in Texas was never a problem for GW Bush, Ricks somewhat (but not much) dumber prototype. Since the Rapture could be any day now, we're definitely facing a constitutional crisis of divine proportions. O8)

[Swede Atlanta]

6. Well it is........

It is a ponzi scheme in that those paying now are supporting those "up the food chain" but that is the way that social benefit programs work. I don't see other ways for this to work............. I am already contributing to my own retirement through savings, 401K, etc. but where does that leave my elderly father who paid SS to fund his father's retirement? Rick Perry is an opportunistic, non-Christian cretin. Some say he is handsome. As a gay man I say YUCK

[Mosaic]

10. Dick Perry is a F'ing Liar

He just emits it from his neanderthal brain everytime he opens his mouth.