A Quote by Rachel Maddow

Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.

Rachel Maddow

Quote Topics

Outrage Ponzi Scheme Scheme Security Social Social Security Us Working

Quote Author

Rachel Maddow
American - Journalist
Born: April 1, 1973

Washington treats Social Security like a Ponzi scheme.

Ron Johnson

The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.

Milton Friedman

The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.

Gary Johnson

No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run.

Mitchell Zuckoff

I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is misleading and does more to cloud the issue than it does to illuminate it. And yes, I do know that unless changes are made, the current system is unsustainable. But that doesn't mean it's fraud.

Mitchell Zuckoff

The Republican candidates are talking about ways to transition this program and it is a monstrous lie. It is a ponzi scheme to tell our kids that are 25 or 30 years old today, you're paying into a program that's going to be there. Anybody that's for the status quo with Social Security today is involved with a monstrous lie to our kids, and it's not right.

Rick Perry

Madoff's scam was small compared to Ponzi schemes the government itself runs: Social Security and Medicare.

John Stossel

The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.

Joe Heck

Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.

John C. Bogle

The whole government is a Ponzi scheme.

Bernard Madoff

The economy is a ponzi scheme. People are working harder than they ever have for less wages, but we have so many bobbles because manufacturing has come up so quickly over the past hundred years that people have the illusion of wealth.

Alex Jones

Madoff Securities is the world's largest Ponzi scheme.

Harry Markopolos

I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.