>>>>Actually it's Social Security that is the largest socialist program in the worlds history - and also, while not perfect, its the most successful in world history too.
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>>Actually Social Security is a classic Ponzi scheme: it's a pay as you go scheme where payments received today are paid out to today's recipients. We all know that using Peter's contributions to pay Paul only works if there's an infinite number of future Peters which is why Ponzi schemes eventually fail. For SS the Ponzi effect happens in the 2030s- or earlier if the older recipient Pauls continue growing in numbers while the number of working Peters shrinks. Peters in their 40s or 50s today may never see anything back from the $ they're paying into SS. Meanwhile beneficiary Pauls insist that the inadequate taxes they paid still entitle them to benefits as they sit fiercely atop their asset piles that they insist are tribute to their own prowess.
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>Unlike a Ponzi scheme there is no intent to defraud anyone. Lets consider the facts for a moment....
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>Social Security has a $2.8 trillion surplus. It can pay every benefit owed to every eligible American for the next 19 years (and more than three-quarters after that).
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>Social Security’s assets aren’t “just paper,” as conservatives sometimes put it. Social Security invests in U.S Treasury bonds, the safest interest-bearing securities in the world. These are the same bonds wealthy investors have purchased, along with China and other foreign countries. These bonds are backed by the full faith and credit of the U.S. government, which in our long history has never defaulted on its debt obligations.
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>Right now a billionaire pays the same amount of money into Social Security as someone who makes $118,500 a year. That’s because there is a cap on taxable income that goes into the Social Security system.
>Sanders has introduced legislation to end this absurdity, by lifting this cap so that everyone who makes over $250,000 a year pays the same percentage of their income into Social Security as the middle class and working families. This would not only extend the solvency of Social Security for the next 50 years, but also bring in enough revenue to expand benefits by an average of $65 a month; increase cost-of-living-adjustments; and lift more seniors out of poverty by increasing the minimum benefits paid to low-income seniors.


Applause!!!!!
Well said, Victor.
No embellishments necessary.
Excellent post.