Children made up 45 percent of people receiving food stamps, according to
the most recent annual report issued by the USDA in November 2012. An
additional 9 percent were over age 60.
Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement
Benefits Go to Elderly, Disabled, or Working Households
Children don't receive food stamps (EBT cards), it's their parents who
receive them, and unless those parents are truly disabled they can work
for their kids' supper. I'm over 60 myself, I don't see a problem with
people working at least until age 65.
Ditto (62). I plan on working for at least another four, if not eight
years (I'll decide when the bridge crosses).
Just be glad those six aren't living in your basement, and off your
Personally I do not considered Social Security Insurance an entitlement
program. (At least that is the way it was sold to the American people
until the democrats siphoned it off to eliminate poverty. Just for the
record Poverty is a higher percentage of the population today than it
was when they started "fighting it")
For over 50 years the government has been taking a large percent of my
income ON THE PROMISE they would provide income for my retirement
If that money had been modestly invested in the stock market which on
the average has been growing at a rate of 10% per year, I would be a
multi millionaire to day. The Social Security Insurance program in my
opinion was a very poor investment.
Very true, but. . .
SS does guarantee some income for the masses. Without it, we'd have a
lot of poor older people too old to work with NO savings or investment
at all. Our politicians have bastardized it over the years making it a
give-away program for a lot of people, not just the retired.
SS is set up and works exactly the same as private insurance. Charges of
"ponzi scheme" have been around almost since it's inception and are not nor
have they ever been true. "Ponzi scheme" is propaganda put out by the
enemies of SS - mostly people that want to get their hands on that pool of
Here's a couple of articles from that ultra right wing, greedy
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
Yes, PBS *does* give voice to right-wing and nutcases.
PolitiFact has rated several claims about whether Social Security is a
Ponzi scheme including two we rated False by Perry leading up to the 2012
We asked Curbelo?s campaign spokesman for evidence showing the programs
are Ponzi schemes.
Wadi Gaitan emailed us a statement that Curbelo was using "a figure of
speech" and wants to preserve the programs for current and future
generations. He provided no evidence that the programs are Ponzi schemes.
But first, what is a Ponzi scheme?
The term originates with Charles Ponzi, a Boston swindler who conned
investors out of millions in 1920 by promising returns of up to 100
percent in 90 days on investments in foreign postal coupons. After first-
round investors harvested those profits, others flocked to Ponzi, unaware
his "profits" consisted of money paid in by other investors.
That strategy is unsustainable.
In contrast, Social Security is more like a "pay-as-you-go" system
transferring payroll tax payments by workers to retirees. A 2009 Social
Security Administration online post stated: "The American Social Security
system has been in continuous successful operation since 1935. Charles
Ponzi's scheme lasted barely 200 days."
Mitchell Zuckoff, a Boston University journalism professor who has
written a book on Ponzi, noted three critical dissimilarities between
Social Security and a Ponzi scheme. We will summarize Zuckoff?s comments
from an earlier fact-check:
* "First, in the case of Social Security, no one is being misled,"
Zuckoff wrote in a January 2009 article in Fortune. "Social Security is
exactly what it claims to be: A mandatory transfer payment system under
which current workers are taxed on their incomes to pay benefits, with no
promises of huge returns."
* Second, he wrote, "A Ponzi scheme is unsustainable because the number
of potential investors is eventually exhausted." While Social Security
faces a huge burden due to retiring Baby Boomers, it can be and has been
tweaked, and "the government could change benefit formulas or take other
steps, like increasing taxes, to keep the system from failing."
* Third, Zuckoff wrote, "Social Security is morally the polar opposite of
a Ponzi scheme. ... At the height of the Great Depression, our society
(see 'Social') resolved to create a safety net (see 'Security') in the
form of a social insurance policy that would pay modest benefits to
retirees, the disabled and the survivors of deceased workers. By design,
that means a certain amount of wealth transfer, with richer workers
subsidizing poorer ones. That might rankle, but it's not fraud."
Or, of course, stick your fingers in your ears, sing "la la la" at the
top of your voice, and ignore the actual facts.
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