Pointing out Social Security’s similarities to a Ponzi Scheme irritates Social Security’s defenders. Nick Baumann at the liberal Mother Jones created a cute Venn Diagram implying that the only overlap between a Ponzi Scheme and Social Security is that Rick Perry calls them both Ponzi Schemes.
I think Baumann left some things out, so I’ve created my own diagram:
Yes, Social Security is regressive, as liberals will often point out. You pay 6.75 cents on your first dollar, and probably on your marginal dollar, but the wealthy don’t pay FICA on their marginal dollar.
And given that black men have a lower life expectancy, they get shortchanged on the benefits end.
