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What will you do when Social Security collapses?
Ernesto Ponzi father of the pyramid scheme or Ponzi racket was thrown in prison. I want to know what will you do when Soc. Security collapses?
21 Answers
- Anonymous1 decade agoFavorite Answer
I am saving for my own retirement, thats what responsible people do
- 1 decade ago
I've payed into social security all my life. I've been working since I was 16...I worked through high school and college.
I was a surgical nurse for 37 years.
I fell in the OR and hit my head on a sharp cart that left me with brain damage. I barely have cognitive function. I can't drive any more. My medicines cost an average of 2000.00
a month. If it weren't for Medicaid and SS disability I don't know what I'd do....I guess starve and live on the street.
I think what is being abused is the disability benefits SS hands out to those who have no disability....back injuries are the big scam.
- GaspodeLv 71 decade ago
Had it been left alone during the Reagan administration, it would have a growing surplus. If the Federal Government ever paid back what it "borrowed" from the old system, that surplus would be good for at least a century.
On a personal level I could care less. Although I paid into Social Security for many years, I can never draw anything out of it unless the "windfall" laws change.
- ideogeneticLv 71 decade ago
Weellll, we bailed out Wall Street on their Ponzi finance. The odds are we'll bail out Social Security (although it's whole until 2050 or so when it will pay 80 cents on the dollar).
The Republicans took all the money working people paid into Social Security to fix the system after the Greenspan commission and handed it out to the rich plutocrats. I'm stunned more people aren't up in arms about it! Yet, Bush's misguided attempt to hand even more S.S. money to Wall Street to prevent the collapse of the investment bankers did fail- thankfully.
I'm sure the Wall Street lobby is trying to get their greedy hands on workers' money to help them through this collapse.
Wall Street's Ponzi finance is much, much worse. Merrill-Lynch tried to offload some of their assets this week at 5.47 cents on the dollar. (1)
Source(s): 1) http://bigpicture.typepad.com/comments/2008/07/mer... - How do you think about the answers? You can sign in to vote the answer.
- Jack McSmackLv 41 decade ago
Paid more and more year after year for decades and they blew it!
Actually, it appears to be quite intentional to write off all the debt and old social contracts and obligations. Great for those Fat Cats who scored big and took the money offshore. Like some mortgage bankers and oil barrons. The can join their money and live comfortably while watching the dust settle. Safe far from the certain pain and misery.
- Anonymous1 decade ago
I guess I'll go postal and once in prison kill Ponzi for starting his hair-brained scheme.
- Anonymous1 decade ago
Dude its already gone.. Entitlements are facing a 53 trillion dollar deficit.
- ♥ MelLv 71 decade ago
I would thank Clinton from stealing from SS to "Balance" his budget. he stole from SS and the only president to do so. republicans are not guilty in this one.
- Anonymous1 decade ago
I am not eligible for SS since I have teacher's retirement.