Should The Retirement Age Should Not Continue To Escalate?

Social Security today is a little different from the original version of the Economic Security Act that should have been. Social Security pays for much more than can be afforded. If Social Security’s net worth is exponentially decreasing. While many citizens believe that the amount one puts into income tax is the promised amount back in Social Security payout this is not the case. The amount one receives is dependent of the working class during one 's retirement which is no different from the original plan besides the fact that the money is no longer going directly to persons but is divided into many federal projects and then the rest given to persons. This dividation of wages only leaves portions of what many citizens believed promised to them goes to building a new bridge in a

The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.

In a world where the old are ignored and have no social security to live off from. Where 65 year olds work in restaurants just to make money for basic items to which they survive form. Hoping they never sick because of them know they would never be able to afford medication and surgery. Living with their children in a single home after they are no longer able to work. Their children having their parents are a burn on them after they have so fought so hard to gain their own independence. Social security is a very conversational topic because of old people having a large influence on the American politics. Social security has developed over time and has remained a very important policy in the United States. Raising Social Security has been a delicate process and there are many reasons why people are for and against 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. Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest

The Social Security Act of 1935 was an important milestone in United States history to protect the elderly and disabled. It was the first and largest social safety net created to aid the vulnerable. Current workers pay taxes in order to provide for those currently drawing benefits. This system works fine when things are in balance but runs into a shortfall when a larger portion of the population is drawing

After its passage on August 14, 1935, Franklin Delano Roosevelt regarded the Social Security Act as “a cornerstone in a structure which is being built but is by no means completed” but whose purpose is to “take care of human needs and at the same time provide for the United States an economic structure of vastly greater soundness.” The very opposite of soundness, however, was achieved. Today, looming deficits and abuse of the program have left it the focus of many debates. At their conclusion, the discussions generally only point toward making it more difficult to receive the money you put in, back, and raising taxes drastically on those still working to provide benefits for the disproportionate amount of retirees. Its problems are vast, but a permanent solution has yet to be decided. Far less discussed, however, is if the program itself is worth saving. Because of

The Social Security act was signed into law by President Franklin D. Roosevelt on August 14, 1935 (Traditional Sources of Economic Security, n.d.). The Social Security Act was put in place to not only help with general welfare, but also created a social insurance program designed to pay retired workers that were age 65 or older continued income after retirement (Traditional Sources of Economic Security, n.d.). The Social Security program is a program that so many people depend on not only after they retire, but also if they become disabled and are not able to work. The Social Security Act and laws that are related to it were established for the following purposes: to provide for the material needs of individuals and families, to protect aged and disabled persons against the expenses of illnesses that may use up their savings, to keep families together, and to give children the chance to grow up healthy and secure (Intro to Social Security, n.d.). All of the purposes listed allow individuals to be able to live their lives and not be a poverty level, while still having access to other benefits that will help them. Under the Social Security Act there are many different programs available to assist those that qualify for social security, which is what I will discuss next.

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

Social Security was introduced into law by Democratic President Franklin D. Roosevelt. Social Security was a program which would provide financial protection to our most elderly of citizens. The program over the course of time has evolved and added new branches of protection such as child, survivor, and dependent benefits. Social Security was never created to be an answer for a comprehensive retirement package for people retiring. However in our current society with plastic cards and increasing debit to income limits, many people do not save for the future. Many citizens live for today and expect the government to take care of them when they are old and cannot fend for themselves. In 2011 the first wave of baby boomers began reaching retirement age and in turn qualifies them to begin drawing from the Social Security System. The baby boom generation makes up 25 percent of the total United States population (SSA, 2014). The projected number of people from 2011 to 2030 who will become eligible to receive Old-Age benefits from the Social Security Act will increase by 65 percent (SSA, 2014). This data is crucial in terms of determining the stability of a system that relies on the paying masses to care for the elderly few. Many Presidents in the last two decades have created and formed elaborate panels of specialized individuals to tackle the problem of the long term sustainability of the Social Security System. In order to take care of our most elderly

President Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935. The main intentions of this act were to provide benefits for the elderly population that was retired and not able to work. This act helped to protect the elderly against poverty if they were not able to save for retirement during their working years. At the time of the signing, only retired people of 65 years or older were eligible for these benefits. This act also included unemployment insurance, old age assistance, aid to dependent children, and grants to states to provide various forms of medical care. Things such as disability coverage and medical benefits would come later. Today we have many issues with our social security program, largely to

Growing up as a kid, not so many young people knew much about Social Security. Some kids might have believed that is was just a nine digit card that their parents kept until they were old enough to take care of it, others knew that it was much more. Social Security is a certain percentage that comes out of your paycheck and into a system. Once it’s in the system the government uses that money that was taken out for people with certain benefits. For example, people with disabilities, foster kids and the one mostly known, retirement. Once retired, in order to receive these benefits, these people must establish that they worked the set amount of years, and also prove that the person is of the qualifying age. Due to the economy taking a big hit back in 2008 the process for obtaining your benefits has become more and more tedious. Due to this struggle, retirees will begin to worry about whether or not they will ever get the benefits they so rightfully earned and also if their rates are going to shift. Because of

     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

Many college graduates today are unemployed due to the low turnaround rate of jobs. The elderly in our world today have the tendency to continue working past their expected retirement age of sixty-two. Why retire early when we can easily live past one hundred today? If our elders were to retire and take advantage of life extension, then it would result in a bigger issue of unfairness towards the younger generation. If we were given the option to collect social security and take advantage of life extension concurrently, then we will run out of retirement funds in a short period of time. As a result of having too many people on retirement, the younger generation would suffer when need to contribute more of their paycheck to social security in order to sufficiently fund the retirees who are alive. Making retirement available to those who have life extension would be unfair when we expect our population to be stabilized when people die over time. But this is not the case today, as we deal with a growing number of newborns and people who live past their life expectancy. As a solution, people who receive retirement should not be allowed to take advantage of life extension or vice versa, since we need a way to control our growing population. Another solution is to raise the age of retirement, since people already live past their life

The Social Security system has long been a program to help ensure the “American Dream”. It guarantees that our elderly and poor are taken care of in retirement and that the younger generation has financial assistance in supporting their family. Despite other controversial welfare/redistribution programs, Social Security is very popular among the majority of Americans and does not face significant opposition from the wealthiest who put more into the system than they get back. This does not mean that the program is free of issues as its solvency has been a leading issue American politics for some time now. Many partisans have advocated for either raising taxes on the wealthy or cutting benefits to fix these issues but nothing has been mutually agreed upon. As the Trust Fund continues to evaporate, a balanced solution becomes more necessary to the long term survival of the program.

In recent years the phrases thirty is the new twenty and fifty is the new forty have become commonplace. This is in large part to adults being healthier, stronger, and living longer than ever before. In fact, the life expectancy in the United States is at the highest rate ever. Women can expect to live on average until the age of eighty-one and men to the age of seventy-six. As with all progress, there are some negative consequences. People are living longer which requires longer social security payouts. Therefore, there has been much debate on whether or not to raise the retirement age. The debate is highly heated and with several pros and cons.