Pros And Cons Of Social Security

Social Security has been a very beneficial government program for elderly people, and those whom they support, when being an active member in the workforce is no longer an option for reasons such as old age, disability, or death. Destruction of the program, or worse, lack of the aid, would be catastrophic. Without it, it could leave many senior citizens that can no longer

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.

In the essay, “The Social Security Problem,” published in Sticks and Stones and Other Student Essays, Max Moore addresses the complex issue of Social Security running out of funds. He also addresses the possible actions that can be taken in order to provide a solution to this problem. Moore targets different audiences that are either directly affected or in control of this depletion of funds. He uses credible evidence to support his claims while also approaching the subject in a balanced and unbiased manner. Moore wants Social Security to both raise the retirement age and raise taxes.

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 Social Security Administration is a great government administration that provides retirement and disability benefits to a large portion of the U.S. population. It was created by Franklin Delano Roosevelt (FDR). He created many new administration during the great depression to combat poverty such as the Works Progress Administration. Unlike the Works Progress Administration, on the Social Security Administration fights poverty through planning for the future rather than the now. The Administration themselves views themselves high as well, on their website they stated that the Social Security Administration is “one of the most successful anti-poverty programs in our nation's history”. The SSA could not have come at a better time than when it did during the great depression. It was crucial to the nation's future as to whether it would fall back down to its knees right as it got back up. The SSA protected us with retirement benefits which allow and help us plan for our retirement safely ensuring that we will have money when we can no longer work. This need for a retirement plan is exemplified by FDR’s speech to the N.Y. state legislature where he states “No greater tragedy exists in modern civilization than the aged, worn-out worker who after a life of ceaseless effort and useful productivity must look forward to his declining years to a poorhouse.” This is arguably the most useful part of the SSA.

Debates over Social Security have been ongoing since its inception in 1935 until today. The trend seems to be toward an increasing percentage of the American public, across party and demographic lines, in favor of strengthening Social Security funding, and a willingness to pay more to preserve and even improve benefits. However, the trend towards privatization of Social Security is also on the rise. What is not clear is whether Americans favor privatization because of fears that the Social Security Trust Fund is living on borrowed time.

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

     Social Security is a public program designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment. In the United States, the word social security refers to the programs established in 1935 under the Social Security Act. Societies throughout history have devised ways to support people who cannot support themselves. In 1937 the government began issuing Social Security identification cards to all citizens. Each card had a unique number that the government used to keep track of a person’s earnings and the taxes collected from those earnings that went to finance Social Security benefits. The Social Security Act is an act in which

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

Social security has been a big part of our nation since 1935 when the great depression plagued our nation. Social security is an independent trust fund and has been since its creation. 1 Social Security Benefits cannot be given out to anyone who hasn't paid into it. No one can receive it as welfare or other types of governmental assistance. 1 Many people think that Congress takes money out of the Social Security fund and irresponsibly uses it. The truth is, congress is using it how they are supposed to be. They are using it to pay people their owed social security benefits and other important government programs. Although the federal debt may be high and respect for congress may be low, they are using it as they should. 2

     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

"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

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

In Bonnie Smith-Yackel’s essay “My Mother Never Worked” she passionately defends her mother after Social Security refuses to grant her death benefit check. Yackel does not realize that Social Security fairly distributes benefits to contributing Americans. Social Security was reasonable to not granting benefits to a woman who never contributed as a wage earner. It would not be fair if benefits were granted to a fraud who never paid wage taxes compared to wage earners who do. Americans who abuse Social Security benefits by committing fraud is unethical and not to mention illegal. Americans that are in desperate need for Social Security benefits require it far more than frauds. By eliminating fraud the government can properly grant social benefits to hard working Americans. Social Security benefits should be permitted to Americans that work and provide back to their country or they are disabled. Hard-working citizens that pay their duties will receive back from benefits, including employees that are qualified as disabled. Benefits should not be granted to any citizen that makes no contribution to their country such as, tax deductions from their wages. Furthermore, Social Security needs to reach out to the majority which is the poverty-stricken. By informing impecunious people and immigrants of Social Security it could save them from the poverty they suffer from. Even though, Social Security relieves some citizens from a financial burden there are still many improvements to be

(5) Currently SS funds are collected and distributed on a pay - as - you -go (PAYG) system in which Social Security taxes from individuals are immediately distributed by the means of the SS Administration as it sees best fit. This means that taxes collected are not reserved for the individual who has paid them: in Rose 2 the current state he or she must rely on those persons paying SS taxes during the time of their retirement (Becker). For a number of these characteristics and future issues, the Social Security System must be reformed or completely abolished to meet the needs of tomorrow. The leading concerns of Social Security that merits the immediate initiation of reform are the demographic and economic circumstances in the coming century. Even though "forecasting the economy and budget over such a long period is uncertain" there remain many "certainties" regarding problems facing Social Security in the first half of the 21st century (OMB, Budget Perspectives 23). The Federal Government's responsibilities extend well beyond "the five- or six-year window" that has restricted the focus of recent budget analysis and debate. Of these "certainties" are the mounting challenges posed from the baby-boomer generation. This generation, born in the years after World War II, is aging