House witness defends calling Social Security a ‘Ponzi scheme’ after Dem attack

First on the fox: Watch the House of Representatives Committee, which was called by Democratic Representative Robert Garcia from California during a hearing this week, is to return after a member of Congress discovered a post on previous social media Social Security In an attempt to discredit his testimony.

During the hearing of the Doug Committee in the Supervisory Council on Wednesday, Garcia shattered the CEO of the Future Company Dan Turner as he was carrying a poster for a previous tweet, describing the “Ponzi plan under the auspices of the government.”

“Madov went to prison for it. Congress runs on it,” said Post. “I must be able to keep 100 % of my money and not to see the government that you waste with a percentage percentage.”

Garcia then suggested that the Post was evidence that Turner lacked credibility with billions of dollars in federal taxes directed to left -wing NGOs.

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“Garcia said that the Ponzi plan and so I think it is interesting, of course, as one of our Republican witnesses describing social security as the Ponzi plan, and this is the person we must take advice from here today. ”

“Without social security, 22 million people will be pushed into poverty. This includes more than 16 million elderly and about a million children. In fact, Elon Musk also said, sir, that this is the Bonzi plan. I think it is paradoxes that they are paradoxes to ensure that one of our witnesses talk about efficiency when you want to attack the best program that must support them to germinate, but through this, but they can be from Their witnesses.

Fox News Digital spoke to Turner, who stood alongside his position and clarified his belief, which many have repeated, that social security is organized like the Ponzi plan by definition.

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Elon Musk, the former White House adviser, walks to the White House after he landed in one Marin in the southern grass. (Samuel Corome/Getty Emose)

“Representative Garcia does not know the definition of the Bonzi scheme,” Terner said. “Social Security is the final Bonzi, and more and more people demand the bottom to finance people at the top, and our population composition is expected to be reflected now. The system will lead to the failure to pay. Mr. Garcia is not likely to not see ten cents.

Turner told the Fox News Digital that if Garcia employees will spend a lot of time trying to save social security as “combed through my social media”, the Ponzi scheme may survive for me enough for me to get a small percentage of what the government has confiscated during my life. “

Turner explained that his father received a “percentage rate” when he prompted him to the program and that the government “kept the rest” when his father died.

“This is not just a Bonzi scheme, it’s the greed and politicians who manage the money laundering process to re -election.

In addition to Turner and Eileon Musk, social security is suggested by virtue of its definition, which was prepared as the Ponzi Plan, Fox News Digital Previously James Agrristty, head of the Institute of Non -profit research only facts, said that the description has “health”.

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“The Bonzi scheme works by taking money from new investors to pay the current investors,” said Agresti. “This is the definition provided by the Supreme Education Council, and contrary to the common belief, and this is exactly how social security works.”

Agresti explained to Fox News Digital that social security, which is an immersion program for decades with concerns about waste, fraud and improper payments, “does not take our money and provide it to us, as many people believe, and then give it to us when we are older” as many Americans may think.

“What you are doing is that it transports the money when we are young, work and pay social security taxes,” said Agrisiti. “This money, the largest part of that, immediately comes out of the door to people currently receiving advantages. Now, there is a trusted box, but within 90 years of operation, this insurance box currently has enough money to finance two years of program operations.”

Agresti explained that the insurance box, which can only continue for a period of two years, is the result of “looting the box”, but was placed in its place “to put a surplus” from the money that social security collects in taxes that do not pay it immediately and pays interest on it.

“The benefit that was paid on this was higher than the inflation rate,” said Agrristty. “Therefore, the problem is not that the insurance box has been looted. The problem is that social security works like the Bonzi scheme.”

Democrats have pushed out loudly against the efforts made by the Republicans and Wuju to reform social security or make discounts on what they say are examples of waste or improper spending.

“There has been a lot of wrong information about it recently,” Agresti told Fox News Digital. “As you know, when Doug came and suggested that the Social Security Administration be a reduction, I think about 10,000 workers, the Democrats erupted that this will weaken social security. But the fact of the matter is that social security pays these workers who are for the general administrative expenditures from the administrative fund for social security. By eliminating the money they pay, you actually enhance the program financially.”

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Representative Robert Garcia, Democrat from California, speaks on the first day of the Democratic National Congress (DNC). (AP)

Agresti Fox News Digital told the current administrative general expenditures for social security are $ 6.7 billion annually, enough to pay more than 300,000 retired in average aging age.

“Every study shows that social security is completely bankrupt in the next few years,” Turner said. “This Bonzi scheme collapses quickly, turning my tweets into stickers that will not stop them.”