Yes, there are more similarities than one would think. And now that the American work force is considerably smaller than it was pre-recession, what will happen to our Ponzi scheme/Social Security program in just a very few years? There are no more really good paying jobs. There are nowhere near as many people paying into Social Security as what is needed and I don't see that improving any time soon.
If you look up the definition of a Ponzi scheme it is very much like Social Security. With Social Security the current people paying in are funding those who receive checks from Social Security. However, Social Security was originally set up to make money with the investments going in. We've had Presidents and politicians dip into that money when they shouldn't have.
Social Security is similar to a Ponzi scheme. Social Security is a welfare system in which funds are collected from payroll taxes and paid to elder citizens aged 65 or older. The Social Security system only works as long as there are enough people to collect taxes from in order to pay the senior citizens. This is similar to a Ponzi Scheme because a Ponzi scheme pays investors from income generated by new investors not by profit.
People pay into social security so when they get older they have money to help them live. They expect to have the money and it should be there when they need it. A ponzi scheme you don't usually get a return on your investment. Social security might not be the best way to do it but it is better than other options.
I do not think that Social Security is similar to a Ponzi scheme. While I understand why some people might think so, I do not think they are even remotely the same. Social Security has the security that a person will reap the benefits of such a program as long as the government isn't dissolved. A person in a Ponzi scheme has to rely on all the investors not cashing out before he does.