Thursday, September 8, 2011

Perry's losing scheme vs. the Ponzi scheme

THE CURRENT BUZZ word in the political lexicon is "Ponzi" - as in Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi. He was the Italian immigrant who arrived on these shores penniless in 1903, went on to take in about $15 million in a postage coupon swindle and from there went on to prison.

From the Republican right-wing tower commanding the presidential road show comes word from Texas Gov. Rick Perry that Social Security is a Ponzi scheme. Perry goes after some issues as though he is trying to lasso a rodeo bull with a rubber band. But as we have learned from rubber bands, they can snap back into your face.

Nevertheless, you will be hearing about Ponzi's schemes from the comfortable Social Security haters who obviously believe that if those recipients who survive on their monthly checks are going to starve, then let it happen quickly. The chorus of those who agree with Perry includes such modern-day social and economic philosophers as Tucker Carlson, Rush Limbaugh(whose current wealth could help restore Social Security to good health overnight) Fox News gurus Andrew Napolitano and Brit Hume and CNN contributor Erick Erickson. There are others, but this gives you some idea of where all of the Ponzi raps are coming from.

But wait. It should be an absolute in politics that if you scare the hell out of the public on issues like Social Security, you are destined to be an also-ran. On this point, I agree with Mitt Romney's aide who asserted after Wednesday's GOP debate that "Perry just lost the election."

Poor Carlo Ponzi. Wasn't it enough that he went to prison for his bloodless crimes that he must now have his name trashed even more by loony people like Rick Perry and the Fox/CNN crowd?


PJJinOregon said...

Perry may have lost the election, but not necessarily the nomination. Now that my party affiliation has changed to "Republican", Perry is the type of looney I'll vote for in the primary. Dems should funnel primary campaign donations to Perry; it will help Obama in the general election.

PaulRyanFan84 said...

So can anyone actually dispute Rick Perry's contention that Social Security essentially operates like a Ponzi scheme?

Grumpy Abe said...

Hey, Ryan: The more I read your comments, the more I'm convinced that you haven't yet reached puberty

Mencken said...

I see Ryan Fan is back from his tour of Midwest UAW plants.

Look bro, why is that when you don't understand something, WE have to do all the heavy lifting to explain the nuances of any particular issue to you ?

Why, because "essentially" you're intellectually lazy.

Why? Because it's much easier for you to toss out yet another dumb ass question and run, than to point by point make your case why "essentially" SS is a Ponzi scheme. You're like the drunken a fan who runs onto the field waving his arms before being tackled by security. You want to get on the field? Make the team.

Why isn't a friggin' IRA or 401K "essentially" a Ponzi scheme? Because there are rules and yes, those awful regulations. There is transparency and oversight. Is it perfect, no. But it's considerably better than dealing with and caring for people later who go bust in the market or lose their health and lose everything. At the very worst, every nickel that Social Security pays out, goes back INTO our economy. And better yet, you have to work to get it.

Here Beavis, let me hand you a talking point: Social Security is mandatory. Care to run with it?