Socialist InsecuritySubmitted by thenung on Sun, 01/20/2013 - 03:31
I’m not sure how people were fooled into letting the government control their retirement, or why people now are so intent on “preserving” Social Security. The program promised security in exchange for some small economic freedoms (in the form of a tax). The government would provide "old-age insurance" for the elderly who couldn't work to support themselves anymore. Sounds good, right?
Now, over 70 years later, most people in their 30s and younger realize that they almost definitely will not be collecting a Social Security check. What went wrong? Well, nothing. For the textbook-definition Ponzi scheme that it is, Social Security was a huge success. For the people depending on it, a constant source of disappointment and uncertainty.