Is Social Security a Ponzi Scheme and why is Thomas Friedman a Hyperbolic Hypocrite

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Rick Perry called Social Security a “Ponzi” scheme and NYT’s Thomas Friedman had a cow.  Now Tom didn’t really have a cow.  I just used that word to colorfully exaggerate Tom’s response to Rick’s use of the phrase “ponzi scheme.”  It’s called hyperbole.  Rick’s hyperbole has now been taken literally by the press, Democrats and his presidential opponents.  Thankfully it has driven the dialog to the point ordinary taxpayers and voters might consider evaluating this unsustainable pathetic excuse of a retirement program.

It has always been a ponzi-like scheme where new participants in the program pay the benefits for older participants.  Unfortunately when it was started 42 workers supported one retiree. Today it is down to three workers and fast approaching just two workers to support each retiree. Tom Friedman knows this too, but he refuses to admit it because he is just another propaganda pimp for liberals at the socialist rag called the New York Times.

Now if you think I am harsh on old Tom remember I use hyperbole and it is just his mindless support of demand-side economics that moves me to be so harsh. Everyone including Friedman admits Social Security is broken.  Everyone admits that the pay-as-you-go scheme of funding the program is bankrupting the nation and something has to be done.

However, Friedman wants to fix the program without specifying how. He is like all Democrats. They know privatizing Social Security will destroy their hold on government as they rely on special interests like retirees and big government programs like Social Security to keep them in office.  Opposing privatization also makes a great straw man for Tom to keep his books selling.  Add hypocrite to his sins and that’s no hyperbole.

It is simple as this. If the nation is collectively stupid (not just uninformed) they will try to repair a broken Social Security system.  If  the nation magically gets informed they will opt to replace our Social Security system with one that will increase a retirees monthly retirement check over 20 times that presently paid by our government-controlled system.

That’s right. Just about any privatization system can increase benefits. Chile has one; so do two counties in Texas. I reject those systems because they are controlled by governments.  I have proposed one that is controlled by the people and out of reach of Congress, the states and the municipalities.  And rather than increase benefits five times the Rise Up America plan increases benefits 20 to 50 times.


Now look for Tom Friedman to oppose this plan. It would seriously cut into his rant that he is for the little guy. Rise Up America makes the poor rich. Tom Friedman can’t abide that. It would destroy socialism and the “common good” tune he has been playing for years.

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