Reply To: Is Social Security a Ponzi scheme?

What is fraudulent about Social Security is claiming it is an investment or insurance scheme, when in fact it is a government welfare/pension program paid out of current revenue. The bookkeeping was designed to get around the fact that the Constitution never authorized a payroll tax, and arguably doesn’t authorize a national welfare or pension scheme. If someone believes it is an investment program or an insurance scheme they are deluded. If you realize it is a government welfare program paid for by taxes (and “borrowing”, i.e. “Printing money”)l, you have nothing to worry about.