Haigh

Looting Goes Mainstream: The Trouble with Government-Backed Risk

Tesa,
Nothing in my post aims to cover up all the fraud of private institutions.

>>Those Social security are not looting anyone, they are merely receiving the results of their labor agreements and their contract with the government. <<

What you describe is a Ponzi scheme, and any Ponzi scheme that is involuntary is looting. If Social Security's inflows were preserved in a trust, and the outflows paid from that trust, then it would no longer be looting. As part of the fraud that is Social Security a Trust is occasionally mentioned, but everyone knows there is no Trust.

We all know in the end Social Security becomes a poverty prevention program when the retirement of the baby boom overwhelms the tax paying capacity of the baby boom's children and grandchildren. The looted will begin to vote against the looters.