Social Security: Massive 'Ponzi Scheme'

Advertisement

Editor:

This letter is in response to the letter in Friday's Roundup, by Judy Whitehouse of Phoenix, who places the blame for the Social Security mess at the feet of President Bush, due to his ‘tax cuts' and ‘war of choice.' Judy, the election is over -- your candidate lost (quite handily) -- Get over it.

The real reasons for Social Security's problems are quite simple: It was set up as a ‘Ponzi Scheme' from the start. People who put into the system always take out more than was originally contributed and it takes a growing workforce to keep up with the continued ‘contributions' to keep the system solvent. This scheme might have continued on for much longer, except for several anomalies that FDR and his so-called ‘Brain Trust' didn't count on. First, was the Roe v. Wade decision, which gave women a ‘right' that didn't exist in the Constitution -- the ‘right' to take another human life, if it was ‘inconvenient' to their ‘lifestyle.' As a result, since 1972, approximately 40 million potential members of the U.S. workforce have been lost (and with them, the tax revenue and contributions to Social Security that would have offset the drain on the system). And we need to wonder why there's such a demand for immigrants (illegal or otherwise)?

Secondly, both political parties have used the Social Security Trust Fund as a personal ‘piggy bank,' to pay for pet projects and in order to paper over deficits. The raids by the U.S. Congress on Social Security are well-documented, and these monies have never been replaced. In fact, under the Clinton administration, the drain accelerated, making it appear that deficits were low. If you'll recall, Al Gore referred to placing Social Security funds in a ‘lock box,' during the 2000 election and, with good reason: He recognized the damage that he and others in Congress had done to the system, for nearly three decades.

Whether you agree with President Bush's proposed ‘fix' for Social Security or not, any rational person could hardly blame someone for the mess that was dropped in their lap. Maybe, just maybe, Americans are paying for decades of ‘ME-ism' ... and it's finally caught up with us.

Michael Mugrage, Payson

Commenting has been disabled for this item.