The Scam of Social Security

You know that scam called Social Security? It’s even more of a scam today than it once was:

People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It’s a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.

Technically this has always been the case due to inflation. The money paid into Social Security early in your career is worth less when you draw it since the dollar is in constant fall. With that said, even without inflation this was bound to happen. Why? Because Social Security is a big Ponzi scheme (in fact the only reason the state likely pursues individuals running Ponzi schemes is because they’re challenging the state’s monopoly on Ponzi schemes). Like any Ponzi scheme, Social Security can only work so long as more and more new people are signed up to pay into the system. As soon as there are more people withdrawing from Social Security than paying in the entire system collapses. Combing the increasing number of people unemployed with the fact the baby boomers are beginning to withdraw Social Security and their population is higher than new workers beginning to pay into Social Security and you have a collapsing Ponzi scheme.