Wednesday, September 21, 2011
Ponzi Scheme or Insurance Program
"Yes, It is a Ponzi Scheme". More importantly, Cato discusses the huge deficit facing the funding of the program. Currently, the funding of Social Security is through payroll taxes. With a gargantuan deficit, can one assume that the benevolent folks in Washington DC will find different ways to collect to cover the short fall of Social Security? The most important question: How does this impact your retirement plan?