Boston Real Estate for Sale

Paul Samuelson, Nobel laureate and America’s top liberal economist of his time, opined about Social Security as a Ponzi scheme in a Newsweek column dated February 13, 1967:

The beauty of social insurance is that it is actuarially unsound. Everyone who reaches retirement age is given benefit privileges that far exceed anything he has paid in — exceed his payments by more than ten times (or five times counting employer payments)!

How is it possible? It stems from the fact that the national product is growing at a compound interest rate and can be expected to do so for as far ahead as the eye cannot see. Always there are more youths than old folks in a growing population.

More important, with real income going up at 3% per year, the taxable base on which benefits rest is always much greater than the taxes paid historically by the generation now retired.

Social Security is squarely based on what has been called the eighth wonder of the world — compound interest. A growing nation is the greatest Ponzi game ever contrived.

Writing in Newsweek, 1967

Click Here: Back to Boston Real Estate Home Search

Back to homepage: Boston condos for sale

Ford Realty – Boston Real Estate Google Reviews 2019

Boston condos for sale for 2020

Back Bay condos for sale 2020

Beacon HIll condos for sale

Charlestown condos for sale under $1M for 2020

Boston downtown condos for sale for 2020

Boston Downtown real estate

Boston High rise condos for sale

Boston Midtown condos for sale 2020

Boston North End condos for sale 2020

Seaport Condos for sale 2020

Boston Apartments for rent

Contact me to find out more about this property or to set up an appointment to see it.

John Ford, Broker
realtyford@yahoo.com
Janet Lamb, Vice President
lamb.janet@yahoo.com
Ford Realty
137 Charles Street
Boston, MA 02114
(617) 720-5454 (9:00 – 5:00 EST)
(617) 595-3712 (On Call Broker After H

Call Now