[W]e have a system that is fraudulent and unsustainable in its design, which suppresses capital accumulation for individuals and economic growth for the economy as a whole, and which reduces a self-sufficient majority to supplicants of the state. The whole system is intellectually dishonest, economically destructive, and morally corrupting.
A mere Ponzi scheme? We should be so lucky.
Monday, September 19, 2011
Ponzi? You wish!
Robert Tracinski has a powerful article up today arguing that Social Security is actually much worse than a Ponzi scheme (Rick Perry's description). Here's the peroration of the piece, but read the whole thing: