RealClearMarkets - Why Social Security Is Welfare: "We don't call Social Security 'welfare' because it's a pejorative term, and politicians don't want to offend. So their rhetoric classifies Social Security as something else when it isn't. Here is how I define a welfare program: First, it taxes one group to support another group, meaning it's pay-as-you-go and not a contributory scheme where people's own savings pay their later benefits. And second, Congress can constantly alter benefits, reflecting changing needs, economic conditions and politics. Social Security qualifies on both counts."Of course, it's actually also a Ponzi scheme where the last ones in are simply ripped off due to the "pyrimidal" demographics. In a Ponzi scheme it's pay-as-you-go and the "Ponzi administrator" can vary the benefits depending on how things are going -- that is to keep the game going as long as possible -- of course.
The only possible way for Social Security and Medicare not to suffer the fate of Ponzi would be under conditions of massive and unending demographic growth. Good luck with that in the non-Muslim world...
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