Search results
Results From The WOW.Com Content Network
Warren Buffett, Charlie Munger were once asked if Social Security is a 'government-sponsored Ponzi scheme'. Here's how they responded — plus how to ensure your retirement is secure
A Ponzi scheme ( / ˈpɒnzi /, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
A shareholder once asked Warren Buffett, Charlie Munger if Social Security is a 'government-sponsored Ponzi scheme for retirees' — their answer was received with laughter and applause
The Social Security debate in the United States encompasses benefits, funding, and other issues. Social Security is a social insurance program officially called "Old-age, Survivors, and Disability Insurance" (OASDI), in reference to its three components. It is primarily funded through a dedicated payroll tax. During 2015, total benefits of $897 ...
Retired Social Security. In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance ( OASDI) program and is administered by the Social Security Administration (SSA). [ 1] The Social Security Act was passed in 1935, [ 2] and the existing version of the Act, as amended, [ 3 ...
More than 2 in 5 Americans under 60 believe Social Security is a Ponzi scheme, according to a new survey, while 7 in 1o don’t expect much — if any payout — from the entitlement program when ...
Charles Ponzi was born in Lugo, Emilia-Romagna, on March 3, 1882.He told The New York Times he had come from a family in Parma.Ponzi's ancestors had been well-to-do, and his mother continued to use the title "donna", but the family had subsequently fallen upon difficult times and had little money. [3]
Texas governor and Republican presidential candidate Rick Perry isn't shy on Social Security. "It is a Ponzi scheme to tell our kids that are 25 or 30 years old today, 'You're paying into a ...