Is Social Security a Ponzi?

In its essence, Social Security is a contract between generations, binding together the interests of both young and old in a system that provides protection to all. Unlike a fraudulent secretive Ponzi scheme, Social Security’s finances are transparent to the public, as required by law.

Where can I watch the Eric C Conn documentary?

Apple TV+
“The Big Conn” and its companion podcast are exclusively available through Apple TV+ and Apple Podcasts. That said, Apple TV+ is available for $4.99 per month after a seven-day trial, so you can binge the show on a weekend and cancel your subscription if you don’t want one.

How did Eric Conn make his money?

Conn, who lived in Pikeville and had an office in Floyd County, was once one of the most successful Social Security disability lawyers in the country, winning benefits for thousands of people before admitting in 2017 that he had put fake evidence in claims and paid a Social Security judge more than $600,000 in …

What happens if you defraud Social Security?

There are severe penalties for Social Security card fraud and disability fraud. Felony criminal penalties can be up to $250,000 in fines and/or up to five years jail time. On top of the criminal penalties, there may be civil penalties as well.

Will Social Security collapse?

Introduction. As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted.

Why do we have to pay into Social Security?

Social Security helps replace earnings during retirement. Financial planners generally agree retirees will need about 70-80 percent of preretirement earnings to enjoy a comfortable retirement. For an average worker, Social Security replaces about 40 percent of annual preretirement earnings.

What channel is The Big Conn on?

Stream It Or Skip It: ‘The Big Conn’ On Apple TV+, A Docuseries On The Crazy Case Of A Lawyer Who Bilked Social Security Out Of Millions.

Where is Eric C Conn jail?

In Ashland, Kentucky, a federal prison holds 61-year-old Conn, who is ineligible for parole until 2040.

Is Social Security a Ponzi scheme?

The rest has indeed been a Ponzi scheme. And as Social Security is already revealing, the future cannot be put off forever, however much wishful thinking is involved. Some are already being forced to confront the exploding pot of IOUs involved, and it will get much worse.

Does Congress abscond with money from Social Security?

And, as noted, the money Social Security collects, expends, and purchases bonds with as required by law is completely accounted for. Not a red cent has disappeared, and Congress certainly hasn’t absconded with any money in the program.

Is Social Security run out of expansion tricks?

However, Social Security has essentially run out of new expansion tricks, although liberal groups are pushing to apply Social Security taxes to far more income as one last means of robbing those younger to delay the day of reckoning.