Friday, May 11, 2012

Social Security Problem Explained in One Picture

A lot of people seem to be confused as to how Social Security came to be based on such financially unsound practices. The answer is told by this lady. Congress paid her (and millions of people like her) 1000 times what she actually contributed in Social Security taxes. In simple terms, they bought her vote with money they stole from succeeding generations. Unfortunately for us, as with all Ponzi schemes, this arrangement couldn't be sustained forever. Fortunately for the politicians that created this liability, they're all dead, and it's now our problem -- exactly as they planned it.

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