Thread: Insurance fraud
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      11-21-2013, 09:15 PM   #8
NemesisX
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Quote:
Originally Posted by Hawkeye View Post
Also, you do know what a Ponzi scheme is right?

Since there is no account or reserve that holds the benefits owed the people who paid into it their whole life it is by definition a Ponzi scheme.

The only reason it hasn't failed (yet) as others do is because people are forced to keep throwing money at it.
Good point. By that definition SS technically is a ponzi scheme.

Do you think they'll just let it fail one day or do you think they'll just increase taxes accordingly in the future?