All Ponzi Schemes Eventually Collapse
Posted by taxguru on May 22, 2020
Even the ones that all Americans are forced at the point of a gun to participate in, such as Social Security and MediCare cannot go on forever. As I mentioned in my earlier post on why grabbing SS benefits ASAP is the only way to avoid being frozen out, the mythical SS Trust Fund is running out of the money necessary to honor the current payment plans.
The current virus crisis has exacerbated that problem, with millions of fewer people able to contribute to the “Trust Fund” and holidays from this forced participation being proposed as a means of kick-starting the economy that has been devastated by the shut-downs.
From Forbes: New Analysis Confirms: The Social Security Trust Fund Is In Trouble
From Bipartisan Policy Center: COVID-19 May Deplete Social Security Trust Funds This Decade
From SSA: The 2020 OASDI Trustees Report
This entry was posted on May 22, 2020 at 2:35 PM and is filed under ponzi, social security. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
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