Arm Yourself with Facts Against this "Social Security is a Ponzi Scheme" Nonsense

[jtown1123]

It's pretty sad I have to write this in the first place, but since the mainstream media is loving this Rick Perry Social Security is "welfare" and a "Ponzi scheme" crap, without even challenging him or putting in perspective this is an out and out lie, I thought I would share some handy info for those that like to debate with baggers and the like:

Repetition of a Lie Does Not Make it True

By NCPSSM | August 30, 2011

Explaining Social Security’s financing mechanisms to the average person just isn’t easy. That fact is one reason why conservatives for years have, somewhat successfully, persuaded too many to believe that Social Security is a Ponzi scheme—regardless of the facts. Kudos to Mother Jones for making yet another run at explaining why Social Security is absolutely not a Ponzi scheme.
Link: http://www.ncpssm.org/entitledtoknow/?p=1957

Link to the Mother Jones Diagram: http://motherjones.com/mojo/2011/08/social-security-not-ponzi-scheme-venn-diagram

[woo me with science]

1. K&R

[Oceansaway]

2. i heard this same crap back in

1974...37 years later...it's still working...

K & R !!

[Richardo]

3. Too literal - it might as well say 'Social Security not run by Charles Ponzi'

What the GOP miscreants like Perry are saying is that Social Security is like a Ponzi scheme; in that it's unsustainable, and like Ponzi or multi-level marketing, the 'new' entrants are paying the benefits to the 'old' entrants and there will be nothing left for them. It's all bullshit of course, but a point-by-point comparison to an actual Ponzi scheme misses the point entirely. The real rebuttal is demonstrating that the 'new' entrants are assured benefits as well as the old, and the source of the benefits is not solely the contributions of the new.

Very disappointing article and chart.