Social Security is Not a Ponzi Scheme
Virginia Organizing and Loyal Baptist Church Golden Age Club to Set the Record Straight on Social Security at Local Presentation
Danville-A day after Governor Rick Perry—who recently said, “Social Security is a Ponzi Scheme”—held a fundraiser in Richmond with Governor Bob McDonnell, Virginia Organizing and the Loyal Baptist Church Golden Age Club are announcing an interactive presentation on Thursday, September 22 to set the record straight on Social Security.
The presentation will give Danville residents of all ages an opportunity to learn about the current state of Social Security and to find ways to take action to protect it for future generations.
Who:Virginia Organizing Danville Chapter and the Loyal Baptist Church Golden Age Club
What:“Social Security Is Not a Ponzi Scheme” Presentation
When:Thursday, September 22, 12 noon – 1 p.m.
Where:Loyal Baptist Church, 468 Holbrook Street, Danville, VA (entrance on Gay Street side of building)
“As evidenced by Governor Perry’s Ponzi scheme comments, there is a lot of misinformation out there about Social Security. It feels like every time I turn on the television some politician is fear mongering about Social Security,” said Janice “Jay” Johnson, board member of Virginia Organizing. “We need to set the record straight for seniors and young people alike.”
The presentation will debunk myths about Social Security. The largest myth is that the Social Security program is broken or a Ponzi scheme. The Social Security crisis is largely a myth trumped up by opportunistic politicians. The program will actually be able to pay out scheduled benefits for the next century with minor reforms. By “Scrapping the Cap” on how much wealthy individuals contribute to Social Security, Congress could ensure that the program is strong and viable well into the future. The presentation will also outline how Social Security is funded and that it does not contribute a penny to the deficit and should not be cut as part of a deficit reduction plan.
“While the politicians spread false information on television, we are taking the real information directly to folks in the community,” added Johnson.
Virginia Organizing is a statewide grassroots organization that brings people together to create a more just Virginia.