Wayne Parham Messages: 18787 Registered: January 2001
Illuminati (33rd Degree)
Insurance is based on statistical analysis, charging a group of people fees based on analysis that a small proportion will need to take a claim. It is designed to cover its liabilities and also generate a profit. For Social Security to work that way, more have to pay in than receive claims. This only works if the population is growing, or if those needing payments take less or die off.
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