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Social Security: The House that Roosevelt Built
Social Science Research Network [SSRN] 
Aug. 10, 2011
This brief sets the record straight on Social Security on the following points [and others]: Social Security is neither a 'Ponzi scheme' nor an income transfer program from the young to the old. Social Security is a pension plan in the form of a defined benefit plan. Like most other defined benefit plans, contributors earn a right to a benefit paid at retirement based on their earnings.
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