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Social Security Reform

            Social Security is a hot topic of debate today, since most American's believe that the system is near collapse. The trust fund that Americans have been paying into for Social Security is likely to dry up in 2029 due to the large number of baby boomers heading into retirement. Franklin Roosevelt set up Social security to help the people that had worked and Struggled all their lives in honest toil. Social security was set up to accomplish two main goals. The first goal of Social Security is to act as a disability or life insurance policy that protects almost all Americans. Currently, there are seven million survivors of deceased workers and four million disabled Americans that receive income support from Social Security. The second goal is to provide lifetime retirement benefits that rise with inflation. Social Security payments for retirees are needed to keep half of the elderly Americans above the poverty line. A large number of baby boomers believe that they won't see a dime's worth of Social Security benefits, and most younger people assume that once they have reached retirement the program will be gone. There have been many proposed solutions to the Social Security problem. A first possible solution is to dramatically change the Social Security Payroll Tax. Another proposal is to change amount of benefits of the provided by Social Security. A third reform proposal includes investing Social Security money in stocks either by the government investing the money or by setting up mandatory IRA investing. Another major development in the future of Social Security is the recent proposals made by President Clinton's Advisory Committee on Social Security. In January of this year the Advisory Committee on Social Security presented a report of strategies to save Social Security. Shortly after the 261 page report was released there was a huge increase of debates and criticism over the future of Social Security.


Essays Related to Social Security Reform

1. Social Security Reform

One of the hottest topics in politics today is Social Security reform. ... There is no specific Social Security fund (Social Security Information). ... Many Latin American countries, such as Chile, Peru, and Columbia have privatized their Social Security systems and have been very successful with it (A 12-Step...Reform). ... This is our reality--the government can't afford to pay back all of the IOUs and taxes would need to be raised if the Social Security system is not reformed. ... The best way to reform the Social Security system is to allow a choice between a private or public...

  • Word Count: 1704
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: High School

2. Increasing Social Security Benefits

A more sensible reform would undo the way people who work and make high wages after 65 automatically get a Social Security benefit. ... Social Security reform proposals create economic and political questions. ... More funding for Social Security requires higher taxes or lower benefits. ... Social Security lifts 14 million elderly people out of poverty. ... By raising it, Social Security could stay at 67 forever. ...

  • Word Count: 2076
  • Approx Pages: 8
  • Has Bibliography
  • Grade Level: High School

3. Social Security

An Overview of the Social Security, Medicare, and Medicaid Since 1935 Social Security has been the foundation of economic security for America's workers, retirees and their families. ... In 1939 two new categories were added to the Social Security. ... There were no changes in Social Security until 1950. ... But even if Social Security's financial difficulties could be fixed by raising taxes or cutting benefits, the system would still need to be reformed because it is a bad deal for most Americans. Social Security simply costs too much and pays too little. ...

  • Word Count: 850
  • Approx Pages: 3
  • Grade Level: Undergraduate

4. Social Security

Social Security is a compulsory tax event. ... Social Security is also unfair to the younger worker. With the financial state of Social Security being a major concern, major reforms were enacted in 1983. ... Social Security has led to a decrease in savings by Americans. ... Social Security should be abolished and the contribution that companies currently make to the social security system should be given to the employees to invest as they see fit. ...

  • Word Count: 755
  • Approx Pages: 3
  • Grade Level: High School

5. Social Security and the Diversification of the Traditional Family

Social Security requires public saving and reduces these historical and foreseen problems. ... Now that the necessity of Social Security has been prevalent for quite some time, other factors regarding whom Social Security is truly designed for must be addressed. ... The government must also consider reforms and other necessary precautions to match the new demands of this changing society. ... When considering Social Security as gender-neutral, one must be cautious of relying on Social Security to affect all individuals equally. ... Without Social Security, much of the elderly would remain in ...

  • Word Count: 2482
  • Approx Pages: 10
  • Has Bibliography
  • Grade Level: Undergraduate

6. Social Security

Social Security "Social Security, public programs designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment." ... Roosevelt announced to the nation his intentions to introduce a Social Security program. ... President Roosevelt upon signing Social Security Act. The Social Security program has never been a flawless one. ... Throughout my research I found that many presidents have campaigned on the reform of the system. ...

  • Word Count: 1202
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: High School

7. Privatization of Social Security Adminstration

Privatization of the current Social Security system is currently a hot button topic and will be for years to come. The privatization of social security has been a political platform utilized by many politicians. ... The system that we refer to as the Social Security system was once known as the Old Age and Survivors Insurance (OASI). ... In fact, a quarter of US households receive these benefits from the Social Security Administration. ... However, I believe, reform is the answer. ...

  • Word Count: 754
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: Undergraduate

8. United States Government and Social Security Privatization

The bill was called the Social Security Act and it made history. ... As of 1997 the federal government owed $656 billion to the Social Security Administration, according to the National Dialogue on Social Security. ... Many economists have simply stated that reform of a 75 year old system would bring about too much uncertainty. ... Despite the arguments that a privatized Social Security system would produce better return rates, some argue that moving Social Security into private accounts would cause substantial reductions in traditional Social Security benefits. ... To extend further on this,...

  • Word Count: 1632
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: Undergraduate

9. Social Security - Problems and Solutions

However, the Social Security System, at this time, is nearing its collapse due to a shortage of revenues for everyone who needs Social Security. ... Fortunately, Social Security can be improved to suit better the people and the government that is currently providing social security users with their monthly paychecks. ... However, the errors that the Social Security System does contain can be fixed, as the most important problem is that the Social Security System will not be able to pay its recipients their deserved money, much less the future recipients of Social Security. ... Personal Securit...

  • Word Count: 1720
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: Undergraduate

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