Argumentative Essay On Social Security

The Social Security system is perhaps the most successful government social insurance program in the nation 's history; and began with the Social Security Act in 1935. Social Security is a needed federal system that encourages income stability to millions of people across the United States. This is accomplished by giving a stable flow of income to replenish lost wages that occur as a result of disability, retirement, or death of a family member. There are about 59 million people in the U.S. that receive Social Security. Most of them are the required 65 years of age or older. Sadly about half of the 59 million people rely solely on Social Security to pay their bills and everyday necessities.

It will leave my generation, our children and grandchildren, with back breaking taxes, which will have its own domino effect of causing ever increasing inflation (Trust). To be eligible for Social Security, which once was at age sixty-two for full benefits and now is age sixty-six and soon will be sixty-seven and as the years go by who knows what the retirement age will be for us (SSA). Social Security is paid through payroll taxes which pay for the benefits of today’s retirees (SSA). Money in excess of what is needed to pay today’s benefits is invested in special treasury bonds. This system works well when there is a rather high ratio of workers to beneficiaries or retirees. For instance, in 1960, there were 5.1 workers for every Social Security recipient or retiree, but the demographics are changing because Americans are living longer and are having fewer children (Crane). Today, there are 3.3 workers paying Social Security payroll taxes for every one person collecting Social Security benefits (Crane). That number will drop to 2 to 1 in less than forty years (Crane). At this ratio there will not be enough workers to pay scheduled benefits at currents tax rates. The last reason why social

We could save the Social Security Program, if we engaged in some simple changes. There could be some slight changes in the retirement age area and in the Taxes area. According to the Article "Modest Changes Could save Social Security Program" written by Stephen Ohlemacher, he clearly stated that employees are 100% grantee for an full retirement benefit package once the hit the age of sixty-six. It will later rises to the age of sixty-seven for elders that was born in 1960 or later. In addition, employees are able to receive an early retirement at the age of sixty-two, although their retirement benefits would have been reduced (Ohlemacher). Some changes we can apply to the retirement age, is that we could slightly increase the retirement age until it reaches seventy in the year 2027, which would eliminate some shortfall in the program. Secondly, there should be a three-year increase in the early retirement age,

The state of our current Social Security program is that there are fewer workers to fund the Social Security program through payroll taxes due to the decrease in number of birth rates per woman. Simple math shows that less people to contribute equals less money being funded. Social Security payroll taxes were just reduced from 6.2% to 4.2% per worker. To be eligible to receive Social Security benefits, you must earn 40 “credits” which is equivalent to 10 years of working. The monthly retirement benefit amount is based on the retired workers lifetime earnings.

The social security act was created by President Franklin D. Roosevelt so that he could put in place provisions in order to help the elderly. The social security act a document that helps impoverished citizens, such as the elderly and physically impaired receive benefits after retirement. Citizens’ in America during the great depression where expected to work weather elderly or physically disabled. These citizens weren’t afforded the financial stability to retire so work was a necessity to acquire money. “Prior to social security, the elderly routinely faced the prospect of poverty upon retirement” (U.S SSA). This effect of the great depression led to a lot death and homes turning into singled parent homes with no income. “The widespread

It will leave my generation, our children and grandchildren, with back breaking taxes, which will have its own domino effect of causing ever increasing inflation. To be eligible for Social Security, which once was at age sixty-two for full benefits and now is age sixty-six and soon will be sixty-seven and as the years go by who knows what the retirement age will be for us. Social Security is paid through payroll taxes which pay for the benefits of today’s retirees. Money in excess of what is needed to pay today’s benefits is invested in special treasury bonds. This system works well when there is a rather high ratio of workers to beneficiaries or retirees. For instance, in 1960, there were 5.1 workers for every Social Security recipient or retiree, but the demographics are changing because Americans are living longer and are having fewer children. Today, there are 3.3 workers paying Social Security payroll taxes for every one person collecting Social Security benefits. That number will drop to 2 to 1 in less than forty years. At this ratio there will not be enough workers to pay scheduled benefits at currents tax rates. The last reason why social Security is unstable is because the government does not guarantee the benefits. According

If a Social Security Act were being built today, I think it would look much different from the version that was created in 1935. There are many factors that have changed dramatically, and while there have been updates along the way in an attempt to address them, the program has still lagged behind to cause some to question its effectiveness and longevity. The very idea that government would be intervening in something that has such a large economic impact on the economy is frightening, but I do not feel we can rely on a system without Social Security. Today people live longer, has less saving, and right or wrong, have a higher expectation of living than people did decades ago. We live in a civilized country that contributes to helping others throughout the world, would we turn on back on our elderly or hope that someone else will find a solution? The idea of keeping government out and allowing a private solution sounds great, but ultimately I feel the problem will shift onto the citizens.

The money to fund Social Security comes from almost everyone who receives wage or salary (Moody, 2012). An individual pays Social Security taxes on their earnings up to a certain amount, in 2013 it was $117,000. Hence, it is a “pay as you go” system in which individuals pay into the system and upon their retirement they are able to begin collecting (Social Security, 2014). With the older population there is one problematic issue surrounding Social Security-- dependence on it. While Social Security is meant to help the aging population ensure financial security, enabling them to retire with dignity, it is not meant to be the only source of income for individuals who retire. It is important to understand this because one issue surrounding Social Security is the very idea that there are people who reach the age of retirement without saving money-- with

First, Social Security has a poor return on investment. Most folks could double their earnings by simply investing money that goes into SS into a decent mutual fund. Secondly, Social Security isn't your money. When you and your wife die, that's it - no money goes to your kids. Money invested in the private sector is yours to will to anyone you want. Third, Social Security is anything but secure. It will eventually go bankrupt in the coming decades if SS taxes are not raised, benefits decreased, or the eligible age to receive SS funds increased. The reason it's going to go bankrupt is because Americans are living longer and the ratio of workers supporting the program to retirees benefiting the program has reversed in the last 20 years. It's

The legislation referred to as the Social Security Disability Insurance and Unemployment Benefits Double Dip Elimination Act has recently come to my attention with great concern. As a citizen of the United States, a current taxpayer, and an eligible voter as of May 2015, this bill will not only affect my present but also my future.

Your three pronged approach to negate the passing of Social Security makes perfect sense. The taxes that are levied to support government programs hurt the employees and employers in the long run. As you mention, the program outlay of monies would never equal the income generated by taxes as the ratio of workers continue to decrease compared to the number of program recipients.

     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 Social Security Trust Fund is underfunded, and so is destined to run out of money by 2035 if current trends continue. Please discuss the major problems affecting the financial underpinnings of Social Security.

“Social security alone is not a reliable source for your retirement income.” This could be true and false. For the average working person, Social Security may replace 40% of preretirement. It is very important that senior citizen include this factor into their retirement planning. Think about how much 40% really is. If you’re training for a marathon, you wouldn’t want to run 36.5 miles instead of 26.2, which is 40% less of a trek. When you’re calculating how much you should save for retirement, it is always good to know how much is automatically covered.

"On a daily basis senior citizens face a choice between buying food, paying the rent, or buying medicine. Senior citizens slice pills into halves because they can't afford