Social Security: The Biggest Ponzi Scheme on Earth | Hoover Institution


Maybe you don’t choose to believe Rick Perry’s assertion that Social Security is a Ponzi scheme—even though he is technically correct—because he’s a politician.

So let’s ask Nobel laureate Milton Friedman what he thinks. Mr. Friedman titled this article on Social Security, “The Biggest Ponzi Scheme on Earth”…

in 1999.

If you don’t trust the dictionary and a Nobel Prize-winning economist, then you truly have your head buried… Let’s just say it’s buried in the sand, shall we?

And then let’s ask Why do you care in the first place? Why are the Republican candidates jumping all over each other to defend the “good name” of Social Security? Why are Democrats doing the same? Who cares?

“What’s in a name? That which we call a rose
By any other name would smell as sweet.”

Romeo and Juliet (II, ii, 1-2)

Similarly, when I step in a pile of dog poo (or, more likely, run it over with a mower), I’m not confused by fancy names like “Social Security” or “a compact between the generations.”

It’s still a Ponzi scheme. Period.

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