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Ponzi! Ponzi! Ponzi! -- The Truth About Medicare and Social Security (by John Stossel)

Opinion

Ponzi! Ponzi! Ponzi! -- The Truth About Medicare and Social Security

By

Published September 14, 2011

| FoxNews.com

Ponzi! Ponzi! Ponzi! There, I said it. To the extent people believe there are trust funds with their names on them, Social Security is absolutely a Ponzi scheme. So is Medicare. People need to hear it.

Many people think that when the government takes payroll tax from their paychecks, it goes to something like a savings account. Seniors who collect Social Security think they're just getting back money that they put into their "account." Or they think it's like an insurance policy -- you win if you live long enough to get more than you paid in. Neither is true.



Read more: http://www.foxnews.com/opinion/2011/09/14/ponzi-ponzi-ponzi/#ixzz1Y...

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