Tag Archives | social security

Redefining capitalism – as I wish it.

By on January 15, 2012 in Economics, General Discussion, Politics

The latest number I could find for annual US corporate profit is approximately $2.1 Trillion. The latest number I could find for US population age 65 and over is 40 million. If I assume that half of those seniors represent married couples, then we are looking at 30 million potentially retired families. If I divide [...]

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Social Security Pyramid Scheme – Maybe

By on October 9, 2011 in Economics, General Discussion

Excerpts from Leroy’s comment on Social Security “One way of viewing the American Social Security Trust Fund is as a massive cookie jar filled with IOUs. The assets of the fund are Treasury bonds, in other words promises to pay by the federal government. The scheme is thus dependent on the ability of future taxpayers [...]

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Pensions, Ponzis, and Pyramids

By on October 3, 2011 in Economics

Some of my students were asking me the other day about Social Security. They had heard Rick Perry declare it to be a Ponzi scheme, and wanted to know what I thought about that. I told them that it was REALLY inaccurate to label it as a Ponzi scheme, but that it could be regarded [...]

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