Ponzi scheme of social security

social security is certainly not a scam.

1. Social insurance refers to a non-profit social security system with the function of income redistribution, which the state participates in in order to prevent and force most members of society. Social insurance is a social and economic system that provides income or compensation for people who have lost their ability to work, temporarily lost their jobs or suffered losses due to health reasons.

2. Ponzi scheme is a name for investment fraud in the financial field. It is the ancestor of pyramid scheme. Many illegal pyramid schemes use this trick to collect money. This trick was "invented" by a speculator named Charles Ponzi. Ponzi scheme is also called "robbing Peter to pay Paul" and "empty gloves and white wolves" in China. In short, it is to use the money of new investors to pay interest and short-term returns to old investors in order to create the illusion of making money and then defraud more investment.

3. Social insurance is initiated and implemented by the government, not for profit, and the government bears the full responsibility, which determines that it will not make the insured lose money. Even the savings of unemployment insurance will be rolled as a social security fund to pay the eligible unemployed.

So social security and Ponzi scheme are not the same concept at all.