Is Social Security a big Ponzi scheme?
December 16th, 2008
JabberingNIC asked:
Now that the Madoff scheme has drawn so much media attention the definition of a Ponzi scheme is well know to many.
Now that the Madoff scheme has drawn so much media attention the definition of a Ponzi scheme is well know to many.
A Ponzi (or Madoff) scheme involves paying returns to investors from the money that is being paid in by new investors, rather than from profits generated by any real business.
This sounds exactly like Social Security.
What is the difference?
Georgia
