Delta Charlie on Nostr: Don't forget one of the largest confiscations of dollars today: Social Security. The ...
Don't forget one of the largest confiscations of dollars today: Social Security.
The Social Security Act was enacted August 14, 1935. The Act was drafted during President Franklin D. Roosevelt's first term by the President's Committee on Economic Security, under Frances Perkins, and passed by Congress as part of the New Deal. The Act was an attempt to limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children. By signing this Act on August 14, 1935, President Roosevelt became the first president to advocate federal assistance for the elderly.
Today, when I speak to older people, I ask them to roughly calculate the dollar amount that was taken for Social Security, and calculate the amount they receive now as a percentage. It always gets a laugh. Even without adjusting for inflation, this exercise works out like a ponzi scheme.
#ponzi #socialsecurity #fdr #president #government
The Social Security Act was enacted August 14, 1935. The Act was drafted during President Franklin D. Roosevelt's first term by the President's Committee on Economic Security, under Frances Perkins, and passed by Congress as part of the New Deal. The Act was an attempt to limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children. By signing this Act on August 14, 1935, President Roosevelt became the first president to advocate federal assistance for the elderly.
Today, when I speak to older people, I ask them to roughly calculate the dollar amount that was taken for Social Security, and calculate the amount they receive now as a percentage. It always gets a laugh. Even without adjusting for inflation, this exercise works out like a ponzi scheme.
#ponzi #socialsecurity #fdr #president #government