Is Social Security Reform Really Necessary? Essay

Our nation ensures social welfare through Social Security. However, the United States cannot ensure the welfare of its own welfare system. To save Social Security, Americans in general do not favor an increase in the payroll tax, a cut in benefits or an increase in the retirement age. Furthermore, Americans are relying upon Social Security as their sole source of income at increasingly alarming rates. Social Security is intended to supplement retiree income, not account for 100% of it. Through elimination of the potential options, that leaves one necessary action: invest the Social Security trust fund in the stock market.

In “The Social Security Problem”, Max Moore discusses the fearful reality of Social Security running out of funds. He states that the U.S. Department of the Treasury predicts that Social Security funds will run out by 2041 and action must be taken in order to prevent this (134). In his essay, he explains how the depletion of Social Security funds are a result from a decreasing retirement age, decreasing fertility rate, and shrinking work force. These things contribute to an increased population relying on Social Security, an increased population of the elderly, and a decreased ratio of workers paying for those beneficiaries (135). Moore explains the proposal of George W. Bush to make Social Security partially privatized; allowing young workers to invest their retirement savings into their own account. This would result in people putting their retirement on the line in

Our Social Security program mainly help out with older citizens and retirement but Social Security is more than just a retirement plan. The program helps families where a parent die and there is no type of income, a worker who has been disabled, and a dependent parent. If there were some type of circumstances in one home or life, they would be able to receive Social Security at any age. There is no doubt in my mind that we should save this program, no matter the cost, it helps out so many people in ways that we may not know of. Take some time and think about the world if this program had never been created and image how many people would be in poverty, unemployed, and old people who are not being able to pay for medicines or supply that they need. We should not change anything in the Social Security program until an crisis acquire, and when that day comes we will already know what to do to improve it by changing certain things in the

Since its creation in 1935 the Republican Party has been trying to change it. In 1935 the Republican party opposed its creation, in 1964 the Republican party tried to make it 'voluntary', and now there is a new debate on Social Security and 'privatizing' it or parts of it.

It’s a matter of either losing all that you have worked for and live in poverty when retired or allowing your hard earned dollars to grow and have a secure comfortable retirement. I believe that Social Security is a doomed Government Program and that Privatization of Social Security would allow for a more secure retirement plan for all Americans. Social Security was first created to help aging Americans in their senior years so they would not end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940 (SSA). Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest

Roosevelt and his Economic Crisis Committee, in 1935, came up with the simple idea of providing benefits to the generation of retired workers from tax money of currently working generation. Roosevelt put this straightforward idea into the system to make it work, and it surprisingly has worked out well so far. When the bill became a law in 1935, there were many people who were affected by the Great Depression and sought financial aid. Unlike the bank money that goes in loans and still depositor have access to the money; Social Security System passes out collected money immediately into benefits (“Social Security System”). This way, the working generation will always provide enough money to the fund. Rather than providing money from government fund, idea of benefiting citizens from their own money didn’t receive

Currently, President Obama has chosen that Social Security restructuring should be handled in the context of total federal budget and the problem of deficits and debt. In 2010, he created the new commission called the National Commission on Fiscal Responsibility and Reform. This is

It’s a matter of either losing all that you have worked for and live in poverty when retired or allowing your hard earned dollars to grow and have a secure comfortable retirement. I believe that Social Security is a doomed Government Program and that Privatization of Social Security would allow for a more secure retirement plan for all Americans. Social Security was first created to help aging Americans in their senior years so they would not end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940. Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest

I believe our current social security system should be replaced by a mandatory private pension system. If it is not gracefully transitioned from the way it currently is then it will unfortunately disappear altogether in an abrupt fashion. A replacement will alleviate this issue and replace it with a viable option that can sustain itself.

I believe the United States has an economic dilemma when it comes to social security and Medicare. As our textbook states, social security is drastically underfunded. It also says that Medicare is underfunded as well. I have listened to people who talk about how there will not be enough money in social security after the millennial generation. If this is true, then my generation and other generations after me will be in a terrible situation when they can retire. Medicare, a government, insured health insurance program, is also a matter of concern. Since the Medicare fund is underfunded at a high level, people who would need the help of their Medicare plan could potentially backfire. If the funding for Medicare does not reach a level where you would not have to worry about the quality of the care, then potential health risks could become much worse without adequate resources used to treat and prevent them.

     There is much-heated debate on the issues of Social Security today. The Social Security system is the largest government program of income distribution in the United States. People are concerned that they won't see a dime of what they worked so hard to contribute into the Social Security system for so many years. Social Security provides benefits to about forty-three million Americans. Not only to retired workers, but also to their spouses and dependents of the workers who die prematurely. It also provides benefits to disabled workers and their dependents. Social Security appears to most people like a simple retirement saving’s account. After all, you generally

The people of this great nation deserve happiness and prosperity just as any other nation in this world. We are a young country compared to many others around the world and we have made mistakes just as the others have. But, if we choose to wait for the current social security services to run aground, many of the retirees and elderly will be left to sell the little they own to loan sharks and other loaners. Privatizing the Social Security program allows citizens to take responsibility and care for their own fund, brings the current system back to financial competence, allow regular people to retire wealthy, increase stock market value, and reduce wasteful spending by the government. Privatizing social security will allow citizens to take a

Social Security provides for the needs of a country’s citizens when they are no longer able to provide for themselves through gainful employment, is an issue that evokes multiple viewpoints. Before laying the framework of the argument for meaningful change to social security program, the program itself must be defined. The Social Security Program is based on the premise during your productive working years you pay a percentage of your income as a tax into the social security system, at some point in the future either by retirement or disability you or your beneficiaries (dependents, children, or survivors) receive monthly benefits; based on your reported earnings (United States Government, 2014). As actuaries, policy makers,

The Social Security System is in need of a new reform; our current system was not designed for the age stratification we have at this time. The U.S. Social Security Administration Office of Policy states, “The original Social Security Act, signed into law on August 14, 1935, grew out of the work of the Committee on Economic Security, a cabinet-level group appointed by President Franklin D. Roosevelt just one year earlier. The Act created several programs that, even today, form the basis for the government 's role in providing income security, specifically, the old-age insurance, unemployment insurance, and Aid to Families with Dependent Children (AFDC) programs.” Social Security was modeled to aid the elderly citizens, however during the past elderly people were not destined to live an elongated life. The older population has grown drastically and is relying on the help of the government’s financial help in order to survive economically. The failure to fund the Social Security system accurately has resulted in a situation where there will not be enough funds distributed in the future; Government officials must create a new Social Security policy reform.

Today, United State is on the edge for a huge change, President George W. Bush second term agenda to reform the Social Security has left us to think about a question that will have a huge impact on the future of United State, Should Social Security be privatized? Enacted in 1935, under the administration of President Franklin D. Roosevelt and modified many times since-including major change in 1983-Social Security provides benefits to workers and their family members upon retirement, disability, or death. Since the program's origin, the size of those benefits always has depended on the earnings of workers. If the social security is privatized the amount that’s collected from each worker’s pay check as a