Why Social Security Is Bad

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

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

Many people have many different views about the federal government and its role in our economy. Some people feel that the government should have very little control over the state, while some believe the federal government is fine and acts as a security blanket. Americans love the idea of knowing they are “safe;” safe physically, mentally, and financially. A man named Robert Kiyosaki once said, “When President George W. Bush attempted to reform Social Security, that proposal was more unpopular with Americans than the Iraq War. People love their entitlements.” No matter what a person’s views are about the role of the federal government, a numerous amount of people will still be interested in collecting Social Security when they reach the age of retirement. There is much controversy about this act, and many times people have tried to reform it but it somehow always fell short.

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.

Our nation ensures social welfare through Social Security. However, the United States cannot ensure the welfare of its own welfare system. To save Social Security, Americans in general do not favor an increase in the payroll tax, a cut in benefits or an increase in the retirement age. Furthermore, Americans are relying upon Social Security as their sole source of income at increasingly alarming rates. Social Security is intended to supplement retiree income, not account for 100% of it. Through elimination of the potential options, that leaves one necessary action: invest the Social Security trust fund in the stock market.

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 (SSA). Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest

Those who think that privatizing social security will benefit the citizens who receive it are very wrong. The reason that they think that it will affect social security is because by creating private accounts, it will cause the separate interest rates for the individual person to go up or down depending on the person. This of course is unnecessary because the way it is set up right now, the individuals are receiving benefits that work for the certain situation that the person is in. Many retired citizens are not in financial crisis because of this setup, because there is nothing that is wrong with it. In the last couple of decades social security has completely transformed the way that elderly citizens in our country live their lives. According to Mortimer Zuckerman “roughly two thirds of people over 65 and older depend on social security for at least half their income, and roughly 20 percent rely on it for all their income.” These are pretty promising numbers regarding the way that the American seniors are spending their

Many pros and cons arise with this option of Social Security reform. With other options the government takes the risk, but with privatization it is a personal risk. When account holders reach retirement they are able to withdraw from the account and use the money as they see fit. Government does not control the amount or what the account holders use the money for, leaving recipients with the choice to spend as much of the money as they wish and as quickly as they want. With no control over the usage of savings, this defeats the purpose of Social Security as a “safety net”. The biggest downfall to this reform is the transition period. Not only would the transition be a high cost, but those that are closest to retirement could be left with smaller savings in their private account. If young workers create private accounts then they are not supporting current retirees, and they are not receiving what they should be (Mitchell 2011). Another concern is that not all recipients will end up with a fair amount of earnings in their account. Such

People are living forever. This is not true in a literal sense but the average life expectancy for people in developed countries has skyrocketed over the last 100 years. There are many great benefits of an increased life expectancy that people are able to enjoy in modern society. However, with increased life expectancy comes a greater toll on some government provided services. Social Security is a retirement plan for senior citizens that started in 1935 and lately has been a controversial topic in United States politics. The United States Social security program should be privatized because of its current financial instability and the increased positive benefits to its recipients.

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

In 2015, $895 billion dollars was spent on social security. The problem is the working people provide social security for the retired. Since people are living longer, there is not enough money from the people who are currently working to provide for retired individuals. I believe the best way to solve this problem is by changing social security. I think everyone should be required to have a social security account that they put a certain percentage of their paycheck into each year. The account should be secured and the government should not allow the individual to receive the money from the account until they reach a certain age. This procedure would ensure that everyone would have money for retirement and the government would only have to safely store the money, not provide the money to the individuals. If the individual dies before retirement, the money should be used to pay for any debt the person owes or go to a designated person as suggested in the deceased person’s

Social Security is a program is a way to make sure all Americans have a retirement and can be taken care of when they can no longer work at least that's what I was taught growing up but the more I look into it the more I think it will not be around its on the news that Social Security Is running out of money and that it might be privatized with all the information out there it is very hard to find out what is actually going on with a mandatory system

     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

Increasing life expectancy and decreasing birth rates have combined to create the crisis the system is now facing. For example, in 1950 there were 16 workers for every social security retiree, while presently there are only 3.3 workers for every retired worker drawing benefits. Estimates are that by 2030 there will be fewer than two workers for every retiree. Privatizing social security sounds extreme, but it has been done successfully in other countries like Chile.

Planning for retirement should not be based on Social Security alone, but rather by saving portions of personal earned wages and putting finances into long-term investments. Depending on Social Security as the only income after retiring is an unsafe and undependable way to prepare for retirement. People who contribute to Social Security are mandatorily putting money into the Social Security Reserve; this money is used for older generations that will file for these benefits before the younger people working, in the early 21 century, ever receive a chance. Money controlled by other’s hands will never be a guarantee for a secure future, yet money saved by an individual to put toward personal goals will reward greatly. By taking the time to