of the criteria.

Not all, mind you.

But some.

Just sayin'

Just sayin’

All insurance is a Ponzi scheme when you think (not too hard) about it.

Needs to be ranned out of the party and disgraced. He is everything us democrats should be fighting against with every ounce of our strength.

Bloomberg has little real support, so he is literally trying to buy votes. He can not succeed through normal democratic processes. He is paying people to attend his speeches, and to spread his propaganda online. He is buying up all the professional political operatives across the country, depriving other campaigns of paid staff.

We do not need a Billionaire Plutocrat as President, messing up the Democratic Primaries. We do not need Republican Light. I am glad that Warren went after Bloomberg in the debates. I would enthusiastically support Warren should she win the Nomination. She is in my top three right now. Bloomberg needs to be stopped.

socked away. My benefits and yours are dependent upon younger workers paying sufficient funds into the system. Their benefits are dependent upon even younger workers doing the same.

I'm not suggesting cutting Social Security, just the opposite.

But the system depends on younger people with jobs paying their taxes in sufficient numbers to cover older generations' benefits. The system also depends on the government not doing anything to jeopardize the economy or benefits.

A large enough, long-term economic downturn would jeopardize benefits for current retirees and future retirees.

So, there are some elements of a Ponzi scheme.

Ponzi wasn’t immortal and didn’t have the power of taxation. Those were his biggest mistakes.

would have their benefits cut. In fact, the benefits are scheduled to be cut about 25% sometime in the 1930s assuming economic conditions, and life expectancy, remain the same.

Now, in event of a disruption, we'd be at the mercy of the government to do something -- print money, create jobs, or something -- but, like I said, there is no gold with your and my name on it backing Social Security.

Insurance is a Ponzi scheme if the premiums coming in, and any reserves and earnings, are not enough to cover claims. But, what's the choice?

Mucho sarcasm.

as the NRA!

Sounds just MY kind of Democrat!...How :bout you? :

regenerate the Simpson Bowles cat food commission that Bloomberg was fond. It was on the table before and I fear it will be again.

"Mike’s Plan:
Raise Americans out of poverty
Mike will introduce a new minimum benefit in Social Security.

Create a retirement-savings plan that works for all
Mike will help people prepare for retirement by providing a government-backed savings plan that cuts out expensive fees, grows money safely and provides a match for low-income workers.

Improve Medicare
Mike will curb out-of-pocket drug costs and expand Medicare to cover routine vision, dental and hearing check-ups.

Build housing security
Mike will increase housing assistance for low-income seniors and back programs that make it possible for them to live at home for longer.

Protect our most vulnerable people
Mike will develop a federal safety net to guard against the catastrophic costs of long-term care, and he’ll protect seniors from predatory financial advisers."

https://www.mikebloomberg.com/policies/retirement-social-security

Learn more

...really?

...billionaire Mikey should realize that my life will get dramatically worse without Social Security and Medicare...that's no joke

...he's making it difficult for me to believe that our billionaire is much better than their billionaire...

...c'mon Mikey, walk a mile in our shoes...

...there are many parallels with a Ponzi scheme.

Retirees who hit their FRA in the past got a sweeter deal than those hitting their FRA today. The FRA shifted from 66 to 67, and the bend point coefficients don't increase due to inflation. But THEY will make out better than the next generation when the plan faces insolvency. Some of that is due to the difficulty in ensuring fairness in such a large program, but much of that is kicking the can as well. This is similar to a Ponzi scheme in that those who get in earlier make out better.

Married couples make out well with SS. A working spouse can insure a non-working spouse for life for zero cost. Zero. Show me an annuity on the open market that can do that. On top of that, throw in an ex-spouse or two or even a few disabled children. Zero cost. Higher earning single people will pick up the tab I reckon.

So if you are in the right spot on the pyramid, good on you.

SS and Medicare are my biggest concerns right now. Well, SS, Medicare and getting rid of Trump.

and now he wants to buy the dem nomination, lol