Social Security is bankrupt and is a Ponzi scheme-Perry

“I want people to be afraid not to talk about that Social Security is bankrupt and is a Ponzi scheme and if you’ve got a young 20-something-year-old, they know for a fact that they’re not ever going to see that,.  So let’s fix it.” Texas Gov. Rick Perry, November 9, 2010

It is great to see someone talking about the true nature of Social Security. When you have been forced to contribute around 15% of your income* for your entire life to a scam where you have no property rights to the benefits, and politicians in Washington keep selling Social Security as a good thing, you should be expecting to get nothing or living in poverty if you have not planned for your own retirement.

The  Social Security “Trust Fund” is a farce.  It is like you handing me $20 to my right hand.  Then I take the twenty dollars and put it in my left hand and give the right hand an IOU while my left hand spends the money on dinner and a movie.  All that is left is an IOU.  There is no trust fund.  Anyone who says there is a Social Security Trust Fund is either gravely misinformed or purposefully trying to mislead.

It is not “Social Security” it is “Social Insecurity.”  We will not see a dime, or if we do, the value of what we will see will have been eaten by inflation.

* 15% of your income because you are really paying both the employee and employer side of the taxes through lower wages.  It is a political slight of hand to ensure that people are unaware of the true taxes going to pay for Social Insecurity.