Republican U.S. Sen. Ron Johnson has repeatedly and publicly called Social Security 'a Ponzi scheme,' a claim we've examined different iterations of over the years.
defines a Ponzi scheme as"an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks.
What’s more, participants are aware of how the system is operating. It’s all public. In a Ponzi, investors have no clue where their money is going and are told lies by the promoters., Mitchell Zuckoff, who wrote the book"Ponzi's Scheme: The True Story of a Financial Legend," told us he doesn’t buy the comparison:
Comparing the two"is a common, and I think deeply misleading suggestion, that is openly used more as scare tactic than to truly illuminate the real issues," Zuckoff said in an interview.
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