Ask a Question
or
Create a Poll
  1. Home /
  2. Questions /
  3. Finance
  4. / Retirement
  5. / Social Security Expectations

by fabolous on April 5th, 2005

fabolous

Question

Help answer this question below.

Will Social Security really be bankrupt in the near future? If so, when and why?

Share:
Other

Answers. 1 helpful answer below.

  • by Anonymous on April 5th, 2005

    Anonymous

      Social Security, as currently implemented, amounts to a Ponzi scheme.  Those who are collecting from the system end up collecting far more than they ever put into it, with money being taken from those of us who are still working to pay those who are collecting benefits.

      It is mathematically impossible for such a system to be sustained indefinitely.  If it is not drastically reformed in some way, Social Security *WILL* sooner or later reach the point where it is not possible to to collect enough from those who are paying into it to make the payments to those who are collecting from it.  Sooner or later, Social Security *WILL* collapse.

      I have a page at http://www.impulse.net/~thebob/Pyramid.html where I attempt to explain the mathematics of pyramnid schemes and Ponzi schemes.

      An unrelated (in spite of the same background, which he copied from me) page describing Charles Ponzi and the famous original Ponzi scheme is at http://www.mark-knutson.com/

    • Like
    • Report

    2 comments | Post one | Permalink

Want to attach an image to your answer? Click here.

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

You're reading Will Social Security really be bankrupt in the near future? If so, when and why?

Follow us on Facebook!

Related Ads

Related Questions

Professionally Researched

ANSWERBAG BUZZ

Will ssi be around in near future
Social security bankrupt in future
What will happen to social secutity benefits in the near future
Straight man attracted to both females and transexuals
Social security benefits will run out in the near future

Answerbag

a Demand Media company