Originally Posted by
FighterHayabusa
Social Security differs from Madoff BECAUSE we are forced to pay into it. The government can lower benefits or raise taxes, Madoff can't create something out of nothing. Also Social Security isn't really an investment vehicle at all, it's a tax that's spent immediately on today's old people so it's kind of silly to calculate a return on it. The government is quite open about this, whereas Madoff wasn't.
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May I suggest you do a little reading on the history of SS? What it started as and what it mutated into are two different animals. What some bought into has had the terms changed so often that it has become a huge shell game.
Madoff couldn't create something from nothing, and guess what, neither can any other individual or entity.
In the end, if we wish to create charities, and lets face it these programs are just that-why not focus on the needy? Unless of course you start with the assumption that everyone is needy, which would bring us to our present situation.