Bonfire of the Absurdities in News New Format

Social security is NOT a Ponzi scheme (it’s worse)

Three reasons Rick Perry is wrong about Social Security being a Ponzi scheme. Here’s one: participation in Ponzi schemes is voluntary. Not so with Social Security. If Charles Ponzi were alive today, he might call his cons “non-compulsory government schemes.” Then again, if Ponzi were alive today he’d be a national Democrat and get praised for his schemes instead of prosecuted. Friedman was right about SS not being a Ponzi scheme, but he’s still an idiot.

This post was last modified on September 8, 2011

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (2)

PsychoDad says:

September 8, 2011 at 5:10 pm

More like a pyramid scheme. And we tapped out the last level about a generation ago.
Joe Redfield says:

September 8, 2011 at 10:46 am

If Ponzi were alive today he'd be the Senate Majority leader.