Benefits Of Funding For Social Security

According to a USA Today article from last year, nearly sixty percent of Americans have more than $25,000 put away for retirement. Thirty-six percent of Americans have less than $1000 saved for later in life. This means that as more people, especially the baby boomer generation, retire, there will be more strain on program such as Social Security and Medicare, and ultimately the federal budget that is responsible for these programs. If steps are taken now to close this gap, we will insure the continued longevity of these programs by raising the tax contributions flowing into both Social Security and Medicare.

"A revolutionary change in our tax system is fundamental to re-energizing the American economy and restoring the American dream" (Moore 1). Currently, there are two major plans being considered to try and fix the tax system in the United States. These two plans are the Flat Tax and the National Retail Sales Tax. "Both the Flat Tax and a National Sales Tax would replace today's discriminatory tax structure with a single low rate. Either plan would promote the kind of capital formation that America needs to boost workers' incomes and raise long-term economic growth" (Mitchell 1). This means that the flat tax would take away the savings from the government and pass them on to the citizens and businesses. By doing this, there would be a rise in long-term economic growth.

For many years the social security program has been operating successfully. In recent times however, it is becoming apparent to some that social security is in need of reform. Their argument is that with the amount of people getting older in the next couple of decades, there will not be enough money left in the social security reserves to pay for everyone who needs it. That is why the idea of separating social security up into private funds has been brought to the attention of the American citizens. This idea of reform has been around for quite a long time; however it has been pushed on by pro reform supporters more in recent times because they think it is necessary for the

The first one being the higher marginal rates reduce the payoff people want from work and other taxable productive activities. When people aren’t allowed to keep much of the money they have earned, they will earn it more sparingly. They can do this by taking longer weekends and using their PTO instead. High tax rates can sometimes even drive highly productive workers to other countries to work where the tax rates are lower. These adjustments people make will cause the effective supply of resources and output to shrink. (Supply-Side Economics)

In 2015, $895 billion dollars was spent on social security. The problem is the working people provide social security for the retired. Since people are living longer, there is not enough money from the people who are currently working to provide for retired individuals. I believe the best way to solve this problem is by changing social security. I think everyone should be required to have a social security account that they put a certain percentage of their paycheck into each year. The account should be secured and the government should not allow the individual to receive the money from the account until they reach a certain age. This procedure would ensure that everyone would have money for retirement and the government would only have to safely store the money, not provide the money to the individuals. If the individual dies before retirement, the money should be used to pay for any debt the person owes or go to a designated person as suggested in the deceased person’s

Nearly every American sees the letters FICA at least once a week. While rushing out of the office or place of employment and scurrying to the bank to cash a well-deserved paycheck, the average American scowls at the roughly 8% the "FICA tax" inevitably consumes. Yet, ask any American what they plan to use to enjoy life after they retire and the answer is generally uniform: "my social security checks". This answer has been repeated for over sixty-five years. Since President Franklin D. Roosevelt's New Deal, Americans have been receiving returned taxes for their retirement through a public policy known as the Old Age, Survivors, and Disability Insurance (OASDI), or better known as Social Security. Noted as

Social Security is a real concern, as we know the forecast for social security is very bleak. The system is running out of money and currently there is no backup plan in place. This personally impacts me because I have family members who depend on the additional monthly income. If they do not have this benefit they cannot meet their finical responsibilities, which may require family members to assist them with monthly expenses. This might cause a domino effect in the finances of the family members who are assisting. Many American citizens do not have extra money in their budgets. Due to the strained American economy over the past ten plus years many responsible citizen have depleted their savings account and some also their retirement funds

Everyone has the right to live their life how they want, secure their belongings, and liberty. The main principles of the United Nations Declaration of Human Rights are equality, speech, freedom to bear arms. I'm calling on you to divide more funding to these three agencies, Postal Services, National Security, and Social Security Administration. In order to help with the United Nations goals. Funding the Social Security administration would help the unemployed, disabled, and the low-income.

Stephen Goss, the Chief Actuary of the Social Security Administration once said, “The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security, but are not well understood.” Social Security is an important federal program that provides a stable source of income to individuals who no longer have a constant salary due to retirement, disability, or death. This program, not only keeps millions of families out of poverty, but it also plays a vital role in the national economy. According to the research report, “Social Security’s Impact on the National Economy”, by Gary Koenig and Al Myles, Social Security supports millions of jobs. The importance of this program is clearly evident in both the national economy and in the economic stability of each individual state. However, the future of the Social Security program does not look very stable and the right decisions need to be made in order to ensure the solidity of the nations’ economy.

they would also raise the after-tax income people receive from their current level of activities,

This would create balance for Social Security Program for the next 75 years. It will also help pay for improvement in Social Security. Eliminating the payroll tax cap would reduce 74 percent of Social Security’s shortfall, NASI found.This change is supported by most Americans, with 80 percent of survey respondents favoring gradually eliminating the taxable earnings cap, including 76 percent of people with family incomes of over $100,000. By eliminating the tax cap, the Social Security Program will benefit by giving money to those who need it or are entitled to collect. With inflation and goods costing more, such as the cost of medical, people, mostly of the elderly, need assistance for this. People with disabilities, need assistance with living and medical expenses because they are unable to work. The Social Security Program is also used for those who have lost a loved one and need assistance, whether this be permanent or

Heated debates over tax cut have always been one of the central economic themes on the American political table. Since taxes relate directly to the quality of lives, it is by no means surprising to find people showing significant concern about policies regarding cutting or raising the amount they have to pay. The idea that lowering tax rate makes room for growth has remained generally popular among the majority, taking a possible decrease in individuals’ tax burden and increase in productivity into account. There is, however, extensive research conducted on the topic that produced controversial results. Despite its appeal to instant benefits for one’s saving account and investment, reducing tax rate has yet to show a definite positive effect

Hearing about many Americans on disability and fact that social security is big part of their lifestyle is big plus. Many Americans can’t survive without social security and I would feel bad if it get taken away from them. I know there are some Americans who are taking advantage of social security and that are one disadvantage and that is bringing harm to the ones that really need it to live in this world. When I was younger I thought social security and being on disability is only for senior adults, but didn’t know it can happen to younger adults as well. I’m glad that social security helps so many Americans with so much and without their help many Americans would struggle more than there is now today. Hearing Kira story made me emotional

The first recorded execution in the United States; within the lines of the law, dates back to 1608 with the death sentence of Captain George Kendall in Jamestown, Virginia (“Death Penalty”). Though Kendall himself was put to death due to his position as a Spanish spy, others during that era were condemned for committing even the pettiest of actions; stealing grapes, killing chickens, and trading with Indians (“Death Penalty”). The constant fear of being put to death that lingered over the heads of the colonists operated as a determinant to the conduction of juvenile acts. Though it has been over 400 years since the death penalty first stepped foot onto United States soil, the common belief that the threat of death will deter crime is what prevents the death penalty from exiting United States borders. The death penalty has remained a familiar topic, within United States law due to the belief that it plays a role in decreasing the rate of crime, however, its place within the system is continually threatened by multiple cases of flawed implementation and crime statistics.

Who chooses who lives and who dies? In the case of people charged with capital punishment within the United States, the government decides. What gives the American government the right to do this? What makes the death penalty constitutional or unconstitutional? Opponents of the death penalty believe that capital punishment is unconstitutional because it goes against the 8th amendment, which prevents the use of cruel and unusual punishment. Contradictorily, I believe that the 5th amendment, which allows the use of capital punishment, is constitutional on the grounds that it is allowed by the U.S. government. I also believe that the death penalty is needed because of the fact that there are some crimes that are so heinous that there is no other punishment that fits the crime. I understand why many Americans may believe that the death penalty can be considered cruel and unusual punishment on the grounds that many execution methods can be painful and lengthy in time. We can all agree that capital punishment is a last resort option, but I can argue that capital punishment is legal through research based on evidence from the constitution and real world accounts.