https://www.americanthinker.com/articles/2023/06/the_worlds_largest_ponzi_scheme.html
July 2, 2023
The World’s Largest Ponzi Scheme
By David D. Schein
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Americans are just beginning to see the tip of the iceberg of their own trillion-dollar Ponzi scheme, Social Security (“SSA”). Signed into law in 1935 by FDR during the heart of the Great Depression, workers were told that Social Security was intended to provide a safety net parallel to retirement systems that existed in Europe. The retirement age was set at 65. Americans were required to pay into the fund through payroll deductions their employers collected. Most Americans were “covered” by the system, and it was later expanded to cover household workers and others who were excluded initially. The system is structured to be a regressive income tax covering most workers’ wages up to $160,200 per year, with no limit on the parallel Medicare withholding.
When FDR was garnering praise for helping the working class, the average life expectancy in the United States was only 60.7 years. So, while most workers would pay into the system, few would live long enough to collect benefits.
In contrast, by 2020, the average American life expectancy had surged to 78.81 years. This is just one of the problems with the SSA’s structure that has brought America to the current financial cliff. Obviously, if most of the alleged beneficiaries would not live long enough to collect, it was a near-perfect scheme for its operator. The “baby boomer” generation, by expanding the system’s benefits and living longer, is tanking the system.
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A private individual (Made-off) or a corporation (Enron) would be severely sanctioned but the Gooferment politicians and bureaucrats can retire on their Gooferment pension with complete immunity.
When will “We, The Sheeple” realize that they have been robbed?
Anyone who fails to plan for zero social security in their old age, will find SPAM a delicious luxury.
Pitchforks and torches anyone?
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Reinke Faces Life 