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Originally created to help the unfortunate during the Great Depression, it turned into a multi-billion dollar ponzi scheme that will never be voluntarily abolished due to the lobbying power of the AARP and the fact that old people vote more. Social security takes a little over 20% of total expenditures, and the privileged gerontocrats that lived long enough to receive it get three times the amount they paid in the first year of receiving benefits. Most Gen Xers and Millennials will never see a penny of the FICA money they paid in because economists estimate the money from social security will run out by 2030.
Guy 1: "Man, I'll never see a penny of social security money."
Guy 2: "That's because teabagger baby boomers are going to suck off all your hard earned dollars while simultaneously asserting that socialist programs need to stop."
by nbakuchev June 06, 2010
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When it's not ran by the government, it's called a Ponzi scheme. When it is ran by the government, it's called Social Security.
Social Security should be abolished, not privatized.
by david smith, jr. July 03, 2009
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