Understanding Insurance and Social Security III

        This is it continuation of a discussion I am having with Anonymous on the subject of Understanding Insurance and Social Security. In the following exchange, I have included his comments at the top and my own comments at the bottom in red.

Anonymous:
I don’t understand why you are pushing for all of this power and corruption and graft to be put in the hands of government and politicians. If there was ever a push and vote for big government, this (your condonement of “social security”) is it.
Are you saying that the government should run a retirement annuity (“social security”)?
(instead of having all retirement annuities run privately)

Or are you trying to justify that you presently receive payments from a welfare/entitlement program?

Or both?

The current system is NOT an annuity, but rather a welfare program AND Ponzi scheme. The payments received by the recipients (maybe not yours specifically, but those on the whole) are greater than what they paid in and are subsidized by current payers into the program.

True life insurance (term insurance) is truly insurance and is insurance for something that will probably NOT happen (untimely death). “Whole” life insurance is not insurance, but rather savings under a different name.

The present SS system is  a Ponzi scheme, with the operator of the scheme having the power to run around and demand payments from new participants at gunpoint. That is the only reason that is is remotely possible that the SS system administrators (US government) might not default on payments.

ACS:
        I believe the only thing new that I need to consider here is to answer your question:
                "Are you saying that the government should run a retirement annuity (“social security”)?
(instead of having all retirement annuities run privately)
                Or are you trying to justify that you presently receive payments from a welfare/entitlement program?
                Or both?"
        I am trying to justify that the Social Security payments I receive from government are those from a contracted obligation based upon my payment of prior premiums. I do not accept welfare, but I accept these payments, because in my judgment they are not welfare.
        During World War II, I was supplied with government life insurance as part of my employment as a soldier. My beneficiaries did not collect on it, but if I had been killed and they had collected, I would not have regarded it as welfare.
        I do not believe that the government should run a retirement annuity ("Social Security"), and I do not believe that I should have been drafted during World War II, but they were both laws, with programs in which I was required to participate. In the first case, my contribution has been to pay premiums monthly for many years. In the second case, my contribution was to risk my life. For those contributions, I was due certain benefits, which I do not regard as welfare.