The Goal Of Social Security

Decent Essays
The goal of Social Security is to be a floor of protection for the financial security of our society. Nearly every American is a part of Social Security, either as a beneficiary or as someone currently paying into the system. Almost every worker pays a part of their earned income to the Social Security tax. Social Security is a pay-as-you-go or current-income system and investment earnings play a relatively small role in financing it. In recent years there has been lots of concerns with the current Social Security system because there has been large amounts of growth in retirement spending. Two of the largest reasons for this is the baby boomer generation has started to transition from the workplace into retirement in the past few years.
Get Access