Both Social Security and Medicare are giant Ponzi schemes, says Dr. Huntoon.

In the words of philosopher/economist Frederic Bastiat (author of The Law), “See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”

Medicare, of course, is part of the Social Security Act.

Both Social Security and Medicare are giant Ponzi schemes. They transfer wealth from current workers to retired workers. All Ponzi schemes eventually collapse when the scheme runs out of “other peoples’ money.”

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