Congressman Joe Heck calls Social Security a ‘pyramid scheme’ (video) - Las Vegas Democrat | Examiner.comFreshman Congressman Joe Heck (R-NV) held a Town Hall meeting and was caught on tape telling those in attendance that Social Security is a “pyramid scheme”. (watch video on left)
"The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.”
Then Heck was asked about raising the retirement age, and said that no one has been talking about raising the retirement age, which is a flat out lie, which enraged the audience even more. Upon which Heck himself talked of a scenario where the retirement age should be raised.
“The kid who’s 18 years old — should that kid have to work to age 70? I don’t know but that could be a possibility to try to make this program work. Because look – Social Security started in 1935. … Fast forward to now. Full retirement age is 67 and the life span is 80. So when they first conceived Social Security they didn’t think they were going to be paying benefits for 13, 15 years. That’s one of the reasons why this pyramid scheme isn’t working.”
Congressman Joe Heck has already voted to kill Medicare, so it should be no surprise that he and his party are also going after Social Security which they have done in the past. Former President Bush even pushed for the privatization of Social Security. Just imagine what would have happened if Social Security was privatized prior to Bush’s destruction of the US economy before he left office.
American citizens lost trillions of dollars in their 401k plans when the economy collapsed in 2008, and if Social Security were privatized at that time, trillions more would have been lost. But yet Republicans are still pushing this idea, why, because financial institutions would make trillions.
Nevada has a very large senior population and you can be sure that in the 2012 election those seniors who receive Social Security and Medicare, will be voting their dissatisfaction with having Congressman Joe Heck as their Representative in Nevada’s 3rd Congressional District.
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