Pyramid Schemes Work....

....for those at the top.


From Joe Sherlock's The View Through The Windshield....

This week marks the 70th anniversary of the first retirement under the Social Security pension system. Ida May Fuller filed her claim in Rutland, Vermont and, a few months later, received her first $22.54.

She worked only three years under Social Security and paid only $24.75 into the system, but she lived to be 100 and wound up collecting $22,888.92 by the time she passed away.

Pyramid schemes don't work whether sanctioned by the government or not. They wind down and leave the bottom with a loss. I am certain that my generation is near that bottom, and, although I believe a much thinned, lessened form of SS will remain when I retire, I plan on receiving nothing. I find I cling to sanity by pretending the money I pay in now goes to a loved one.

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