Tom Margenau, who writes the feature on Social Security, is clearly a true believer in that program. His column titled “Social Security Will Not Go Broke” [published online on Sept. 24] is a case in point. Without realizing it, he has included examples of every single aspect of the definition of a Ponzi scheme. The scam is named for an Italian-born American (1949) swindler. Social Security, like all Ponzi schemes, is a swindle. Merriam-Webster defines a Ponzi scheme as “(noun) an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks.” In other words, one way or another, in order for benefits to continue to accrue, the base (number of people or amount of money “invested”) has to continually increase. Years ago, the government ran into that wall. So they changed the rules so that …
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