If a private corporation operated a pension system structured like Social Security, it would be illegal under laws that prohibit Ponzi schemes. Per the SEC, a Ponzi scheme "pays existing investors with funds collected from new investors." This is how SS operates. Contrary to popular belief, SS doesn't save people's money but pays beneficiaries mainly by taxing people who are currently working. In contrast, "federal law requires private pension plans to operate as funded plans" to increase "benefit security" and ensure "intergenerational equity." SS, on the other hand, has levied dramatically increased tax burdens on succeeding generations of Americans, thus creating severe generational inequality. And unless retirement ages are raised or benefits are reduced in some other way, taxes will need to be increased again to keep the program solvent. Also contrary to popular belief, the SS Trust Fund hasn't been looted, and no money has been diverted from SS to the SSI program.