The Hidden History of Social Security

Social Security is in the news. People are finally telling the truth: It’s a government sponsored Ponzi (Pyramid) scheme. In the beginning, the costs of Social Security were not that great and not everybody was in the system. In fact, Congress had exempted itself. Most federal and state workers were not in the system. Public school teachers were exempt. They could opt for a private system. Members of Congress had their own private government (taxpayer)-funded system. This didn’t change until 1984. Compared to today, the costs of Social Security were small. Those in the system paid two percent (employee and employer pay-in combined) on $3000 per year for a total of $60. Now it’s nearly 12.5 percent on more than $106,000 per year.

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