When A Ponzi Scheme Is Entrepreneurial
It's not a ponzi scheme, it's "entrepreneurial". You know you're in trouble when a politician uses the term "working family" - the last time we checked only people that worked paid Social Security taxes.
Social Security has never been a good investment and we see no reason for the younger generation to be stuck with a poorly designed program just because the Democrats have pride of authorship.
We'll leave it to Nancy Pelosi to explain why the Democrats should be trusted in the current debate on Social Security. From This Week With George Stephanopoulos May 1, 2005.
George Stephanopoulos: Why should American people trust the Democrats [on Social Security] if you don't have a specific plan?
Nancy Pelosi: The American people should trust the Democrats because we originated Social Security. This was a very entrepreneurial idea of the New Deal and Democrats will not allow the Republicans to turn this great deal for the American people into a raw deal for them by what they are proposing. They've never really supported Social Security, and the way to damage it, I'm trying to select my word carefully, is to destroy the universality of it. The genius of Social Security at the time was that everybody supported it in terms of the working families of America because they got a stream of income commensurate to what they put into the program.