Puerto Rico

Puerto Rico Bankruptcy Court

Main Office - San Juan

Justia Lawyer, Legal Aid & Services Directory: Puerto Rico Bankruptcy Lawyers

Last reviewed October 2024

Social Security is Essential, Efficient (Gasp!), and Definitely NOT a Ponzi Scheme: Part Two of Two

In this second of a two-part series of columns discussing Donald Trump and Republicans’ efforts to dismantle Social Security, University of Toronto visiting law professor and economist Neil H. Buchanan argues that despite public reassurances, Republican initiatives—especially those supported by figures like Elon Musk—are methodically weakening Social Security, threatening a vital, efficient, and historically successful program that prevents elder poverty and supports millions of Americans. Professor Buchanan contends that these efforts are based on false narratives, including misleading comparisons to Ponzi schemes and deceptive efficiency claims, all aimed at undermining public confidence in the system—particularly among younger generations—in order to justify harmful privatization schemes that would ultimately benefit Wall Street at the expense of working Americans.