excludes banks (who gamble with savings on the hope they can eventually make enough to pay you what you pay in with interest) and insurance (here you gamble against yourself in the hope that you lose - while the insurance companies take your money, pay off claims, and gamble with the rest in the hopes that they have enough to pay off future claims) how?

'Ponzi' takes money from multiple people and DOES allow them to withdraw some as needed, while using the rest. Sounds like banks and insurance to me, without the incentive to gamble the money for the purpose of paying back the 'clients'.

The SS scheme is 'investing' the money - in the US government. It was the Prez that implied that the government wouldn't pay it back. Now - is the investment sufficient? Not likely. Until you call SS an official tax you can't refuse to pay people AT LEAST the money they paid in + interest, though. When that happens, watch for 'government retirement communities' based on Section 8 housing... Unfortunately, it's probably the future.

Any more than taxes are.

The fact remains that is NOT a simple tax.

It IS independent of tax revenue.

It IS a fund.

It DOES invest (in the government) to grow the fund.

It is no more a Ponzi than a bank or an insurance company; unfortunately (or fortunately, given levels of federal corruption), the SSA is limited in how they can invest. These limits limit their profitability. Benefits are calculated (unlike benefits gained through taxation) against what you have personally contributed*.



*there is a lower limit to SSI 'credits'; this does not apply to most recipients