how does the social security system work today?

Question

is it strong? Has it changed?

Answer 1

Ponzi Scheme

Answer 2

It doesn't work today. Social Security was designed to help widows and orphans in a time when the average life expectancy was much lower. It was never intended to be used as a person's sole source of income for the 20-30 years that many now live past retirement. It's broken, and sorely in need of repair.

Answer 3

Social Security Tax was designed to Tax citizens and was never intended to provide retirement for millions because at the time it was implemented, most people never lived long enough to collect. It has grown weaker because congress spends the money on other programs and the ratio of retirees to working people makes it very difficult to support the program. Other than Harry Reid and a few other hardcore Democrat leaders, most people believe the program is doomed to fail. Many leaders do not want to try to fix the problems because they fear change and too proud to admit the program is failing .

Answer 4

Well imagine if someone said starting at the age of 16 you have to give 25% of your paycheck to a mutual fund for your retirement. And then right before you retired, the mutual fund went bankrupt. That's kind of like the near future of social security in a nutshell.

Answer 5

Same way it always worked.

People working right now pay people who have retired.

The government uses the extra money to fund wars and "police operations" all over the globe.

The people working get told that their money is nice and safe in some account.

So far.. This is how it works. There's talk of privatizing social security, or having the government hand control of the funds and accounts over to private institutions for them to invest and potentially use to gain or lose money. Something like that.

Answer 6

It's actually a conceptual mistake,and is bound to collapse on itself. The only way for something like Social Security to work is to totally privatize it. There is nothing good that can come out of a government-controlled ponzie scheme.

Answer 7

It is a "Ponzi Scheme." Today's investors have their contributions transferred to current recipients. Any surpluses of the past (generated by the Baby Boomers) have been plundered and spent by politicians, replaced with IOUs (debt).

There is no trust fund, there is no viable program. The retirement of the Baby Boomers will expose the whole scheme for what it is, and always has been, a sham on the American people.

Politicians who sat by and allowed this to happen are disgusting and shameful.

Answer 8

Like a dropped watch
it works all the way until the floor, only a fast 1/2 second
Really needed reform like the right wanted. Left didn't think Americans could deal with investing a % of their own SS tax into the same type of account the senate and Congress people put their 100% into. Hold down the stupid citizens who elect us! They are the NANNY State. Thank them dumb citizens they are the Democrats

Answer 9

The social security system is strong and helped a lot of people by giving out loans, emergency assistance and welfare benefits.

Answer 10

Well, I'm 31 and am able to draw survivor benefits for myself and four children after my husband died last year. I hope it stays strong, because I certainly rely on those checks.