Source: Garrison Center
by Thomas L Knapp
“For the most part, [Elon] Musk is correct to refer to Social Security as a Ponzi scheme. It pays out benefits from newer revenues, not by investing Social Security taxes in profitable ventures. There’s one respect in which it differs from the traditional Ponzi scheme, though. In the ‘private sector,’ Ponzi scammers try to hide what they’re up to. … Social Security, on the other hand, has transparently operated in a facially Ponzi-like manner for decades — and the US Supreme Court publicly declared, 65 years ago, in its ruling on Flemming v. Nestor, that no one is ‘entitled to’ any payout at all …. The sad truth that Musk didn’t bring up is that the victims have known — or at least should have known — they were being scammed since at least as early as 1960.” (03/04/25)