Quote:
Originally posted by wonderwench
And how many people did it harm? Our grand parents were fortunate to be part of the early beneficiaries of this Ponzi scheme - the ratio of workers to beneficiaries was quite high.
So, in order for your grandmother to feed herself, we now have a monster. The SS "lock box" (has there ever been a more cynical phrase) has been borrowed against with government bonds as collateral. This looting has enabled explosive growth in government spending - shackling your grandmother's great grandchildren with ever increasing taxes and lowered economic expectations.
Wouldn't we all have been better off if your family had kept its money and assisted your grandmother instead?
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Again, you assume much. Could my family afford to help my grandmother? You don't know, but you say that we should have. Thanks for the advice.
Social security was never meant to be borrowed against. Nixon helped pass the laws that allowed it, but it wasn't heavily used until several administrations later.