IWETHEY v. 0.3.0 | TODO
1,095 registered users | 0 active users | 0 LpH | Statistics
Login | Create New User
IWETHEY Banner

Welcome to IWETHEY!

IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / ponzi takes money from many to pay few
Post #276,213
by boxley
12/20/06 11:24:41 AM
Reply
New ponzi takes money from many to pay few
its a pyramid scheme. Current payroll taxes fund current social security receiptients. Point me to the US code that sez that money is yours held in trust by the US government to be repaid with interest later. If there was you would receive bonds in the mail annually. You dont. Its a social construct not a contract.
thanx,
bill
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
Post #276,216
by imric
12/20/06 12:03:49 PM
Reply
New ROFL - of course it's not a contract.
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
Imric's Tips for Living
  • Paranoia Is a Survival Trait
  • Pessimists are never disappointed - but sometimes, if they are very lucky, they can be pleasantly surprised...
  • Even though everyone is out to get you, it doesn't matter unless you let them win.


Nothing is as simple as it seems in the beginning,
As hopeless as it seems in the middle,
Or as finished as it seems in the end.
 
 
     We're sunk! - (tuberculosis) - (13) - Dec. 19, 2006, 07:48:12 PM EST
         the magical mythical surplus emerges as a deficit - (boxley) - (11) - Dec. 19, 2006, 10:05:31 PM EST
             Debt is debt. - (imric) - (10) - Dec. 19, 2006, 10:27:01 PM EST
                 SS is a social construct not a promissory contract - (boxley) - (9) - Dec. 20, 2006, 07:50:07 AM EST
                     ROFL - (imric) - (8) - Dec. 20, 2006, 08:46:49 AM EST
                         the money coming from your check pays current receiptients - (boxley) - (7) - Dec. 20, 2006, 09:45:18 AM EST
                             You're both feeling different parts of the elephant. -NT - (inthane-chan) - (1) - Dec. 20, 2006, 10:00:45 AM EST
                                 I get confused at how the money goes round and round. - (static) - Dec. 20, 2006, 08:38:07 PM EST
                             Heh. And the SS 'scheme' - (imric) - (2) - Dec. 20, 2006, 11:15:34 AM EST
                                 ponzi takes money from many to pay few - (boxley) - (1) - Dec. 20, 2006, 11:24:41 AM EST
                                     ROFL - of course it's not a contract. - (imric) - Dec. 20, 2006, 12:03:49 PM EST
                             ? - (mmoffitt) - (1) - Dec. 20, 2006, 04:06:48 PM EST
                                 ROFL - nah - the gummint - (imric) - Dec. 20, 2006, 04:14:12 PM EST
         Inflation, immigration, and tweaking will "fix" it. - (Another Scott) - Dec. 20, 2006, 12:03:57 PM EST

Stop looking over your shoulder and invent something!
71 ms