Right now there’s a certain amount you pay into Social Security, and then after that it’s not taxed. There’s a number of things you can do to that are pretty simple and are pretty gradual keep the system from going bankrupt which basically it already is, because we’ve already spent the money that’s in the Social Security trust fund. It’s a Ponzi scheme that Bernie Madoff would be proud of.
As Zaid Jilani quickly and correctly pointed out in his post on Think Progress,
A Ponzi scheme involves fraudulently manipulating investors’ money without being able to pay them back; meanwhile, Social Security is a program that has successfully managed Americans’ money since its inception and has guaranteed them safe retirements.
Indeed, it must be that Republicans are only capable of viewing any program that treats Americans as if we were all on the same boat, rather than a few on yachts and most of the rest on rafts, as a "Ponzi scheme". (You know the analogy that a rising tide lifts all boats, the disingenuous argument Republicans love to make to justify trickle down economics, don't you?)
Take Ponzi scheme as a synonym for socialism, or "redistribution of wealth" in the Republican vocabulary. It is really a very good/bad sign of which side Republicans are on. When it comes to making sure that Ponzi schemes are not possible, they obstruct any attempt at regulation of the financial industry, but when the issue is to make sure that Americans can retire with some peace of mind they have no trouble calling Social Security a Ponzi scheme. They are truly evil.