Saturday, May 07, 2005

Social Security: The Ponzi Scheme

You've probably seen blog "Carnivals" mentioned and possibly participated in a few. I know I have.

When I do, I feel compelled to check out what everyone else has submitted. Why?

I hope everyone else is, too, so that everyone involved gets -- even if it's only temporary -- a boost in hits. (It also gives me a chance to see what other bloggers are writing about and how.) To top it off, it brings attention to little-known, low-traffic blogs that except for a small circle of regular readers go unnoticed.

Blogs like this one for instance. But, I digress.

I spotted one entry at Wizbang's weekly carnival this morning that I think you should read also. What's it about?

At Vagabondia, The Indigent Blogger writes:

Charles Ponzi couldn't have dreamed up a better scheme. Our government claims 12.4 percent of every worker's wages couched as a retirement investment, then steals from the retirement Trust Fund to mask excessive spending, and guarantees to payback those retirement investments with the power to tax those workers to any extent necessary.
And that's only one paragraph.

You definitely need to read it all.



Blogger Dan Morgan said...

A Ponzi scheme it is.

Thanks for the tip on Vagabondia. I linked to it on my blogsite tonight:

For some detailed reform proposals, see here:

11:08 PM  

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