Nancy Altman and Eric Kingson of Social Security Works have an open letter to Alan Simpson on Huffington Post. Responding in kind to Simpson's inflammatory rhetoric, Altman and Kingson talk of Simpson's "bigotry and bullying" and his "undermining of human dignity." They charge him with wanting to "begin pulling apart our Social Security system brick by brick."
Simpson, by the way, has backed out of his earlier commitment to debate those who oppose his views on Social Security.
Social Security is a Ponzi scheme in need of serious reform.
ReplyDeleteAnon @ 6:28,
ReplyDeleteThat is so true.
I bet you hate all insurance companies. They collect premiums from those who have no coverable occurrences and instead of putting them in a little account earmarked for each insured, use that money to pay benefits to those with covered occurrences. I'll see you tomorrow at the picket lines in front of those great ponzi schemes operating under the names Allstate, USAA, Travelers, Llloyds of London, etc. that all operate on the same principle as the public social insurance program called Social Security.
Alternatively, if you want to apply for disability benefits on the grounds you meet Listing 12.05(B), I'll be happy to represent you - should be a slam dunk.
Anon @ 10:52
ReplyDeleteIf insurance companies are the same as Social Security, answer this question :
Are the reserves any different in an insurer than the "reserves" in the SS trust fund?
For example, when reserves are liquidated from an insurer to make up for any cash shortfall (premiums collected versus claims paid) are they simply converted to cash for they are pre-paid liquid investments that have been left intact, or must they operate as the SS trust fund does - grab new money from the Treasury, as any pay-as-you-go expense is paid - increasing the deficit, for the old reserve momney was spent years ago?
Don Levit
My response to Troll at 6:28 on June 12th (who started the comments) is why you would want to reform a criminal enterprise? If Social Security is truly a Ponzi scheme as you claim, wouldn't the only rational response be to eliminate the Ponzi scheme?
ReplyDeleteI waste my time responding to the Troll because he is repeating the same talking point with the same inherent contradiction repeated by numerous other Republicans. If you really think it's a Ponzi scheme, grow some stones and call for eliminating it entirely. See what the voters think about your proposal.