Doherty explains why Social Security is not a Ponzi Scheme. He will compare it to the scheme originally perpetrated by Charles Ponzi. He will clearly show that Social Security has little to nothing in common with a Ponzi scheme and why it is a huge disservice to continue to make that analogy. Doherty will also go on to address the fear that Social Security has an insurmountable long-term funding issue. The majority of people in this country are worried that Social Security will run out of money and they use that as a reason or excuse to claim their benefits early. Doherty will explain why those fears and worries are unfounded and goes on to make the case that Social Security will be around for the next 75 - 100 years, even if the government doesn’t do anything to fix it’s long-term funding issue. Next he will address the simple things that can be done to resolve those funding issues with no benefit cuts for the next 75 – 100 years.
In order to come up with a plan to fix the system, Doherty worked with an ex- Social Security actuary, who was also a Head Actuary of a major insurance company, a graduate of MIT and a math genius. Working together they created a simple game plan that could be implemented almost immediately and would shore up our Social Security system for the next 75 – 100 years. He will share the details of that plan with you and why that plan, or some variation of it, could and should be implemented in the very near future. Suggested solutions often include increasing taxes on the wealthy and/or decreasing or eliminating benefits for the wealthy. Doherty believes that a better solution entails just the opposite approach and he will explain why in the video. At the conclusion of the video you should feel much more confident about the long-term viability of our Social Security system, and recognize that claiming your benefit early because the system is in trouble is insufficient reason to do so.
Contributions from the book Guide to Social Security in this press release are used with permission from Light Bulb Press.
Brian Doherty was a co-contributor to this press release.