Is Social Security a Ponzi Scheme?

By Robert L. FitzPatrick, President of Pyramid Scheme Alert, with the Assistance of Pyramid Scheme Alert Directors and Advisors

A presidential candidate charges that the American Social Security system is a “Ponzi scheme” not long after the largest Wall Street Ponzi scheme in history collapsed and wiped out pensioners and charities. Pundits loudly argue the candidate’s claim but almost none challenges the substance. The question is reduced to opinion, not fact.

Could Social Security be another version of Ponzi’s and Bernie Madoff’s Cons? Read More...