"Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because they think they paid into it, nobody paid into anything, it was a fraud. Every single dollar that the gov collected in social security taxes, has already been spent, there is nothing there, there is no money, so the only money the government gets to make current payment is the money it can take from people who are still working. Its a transfer from the working poor in many cases to the retired rich. We don't have the money, I feel bad for the fact people made promises we can't keep, I feel bad for the people that invested with Bernie Madoff and lost their money, but its the same principle, its the same Ponzi scheme. We have to put an end to it, we have to find real solution to these problems because if we keep on denying that they exist and keep on spending money, we're going to destroy the value of everyone's benefits."
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RTC, Avon, CT, 10th May 2010
https://en.wikiquote.org/wiki/Peter_Schiff
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Peter Schiff
Peter David Schiff (born March 23, 1963) is an American businessman, financial commentator and author noted for his predictions of the housing market crash in 2005, support for unregulated markets and reduction of the powers of federal government. He was a Republican candidate for one of the Connecticut Senate seats, against veteran politician Democrat Chris Dodd.
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