![]() ![]() Children traditionally have served as a revenue stream for their parents. ![]() Interestingly, the scheme itself may have caused (or contributed to) the demographic change that may destabilize the scheme. There will not be enough “investors” in the future to force to participate in the scheme. Yet the real problem in the US is a demographic shift. High payroll taxes affect other social goals supporting the system with high marginal rates calls into question the “social insurance” justification for the scheme. The managers of a public Ponzi scheme may compel people to participate but their power is not unlimited. They are not expected to be consistent in the US in the rather near future. ![]() If the growth in the labor force and labor productivity were consistent with the obligations of the public scheme (i.e. It can thus force new investors to enter the scheme. The difference between a public and a private Ponzi scheme is that the government has a monopoly on the legitimate use of force. ![]()
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