Social Security Trust Fund

current state of the social security administration has raised several concerns and led to various arguments for the privatization of social security. Several of the arguments for privatization include opportunity for greater returns, freedom to choose individual investments, reducing government oversight, inheritance of benefits, and keeping the funds from being raided by Congress or the President. While there are several reasonable points, the overall argument for social security privatization is not

An analysis of tax increases may provide some options. Employees pay into the trust at a 1.45 percent payroll tax, employers contribute to the trust at a rate of 1.45 percent payroll tax. This has been the tax rate since 1987; the rate has not evolved with the economy (Moon, 2015). Increasing payroll tax by one percentage point would add $346 billion dollars to the trust by 2019. Another option, implementing a ‘sin tax’ on cigarettes and alcoholic beverages would contribute

Social Security’s Optimal Solution At the forefront of many political and economic debates is social security’s insolvency. The number of social security beneficiaries compared to the number of workers is expected to rise 10% over the next 20 years (National Academy of Social Insurance). Specifically, solutions on how to find funding for the program from current workers are being discussed. Concerns about funding social security are not unknown. The unknown is how, if at all, social security

the program? The existence of social security has been around since the Medieval times, however primitive, this system continued to grow and eventual made its way to colonial America. Yet it wasn’t until August of 1935 when the Social Security Act was signed by Franklin D. Roosevelt, to implement social insurance during The Great Depression when poverty rates among senior citizens exceeded 50%. Originally, the Social Security Act of 1935 was named the Economic Security Act. The 1935 law only paid retirement

Many of the federal and state programs that provide income security to U.S. families have their roots in the Social Security Act (the Act) of 1935. This Act provided for unemployment insurance, old-age insurance, and means-tested welfare programs. The Great Depression was clearly a catalyst for the Social Security Act of 1935, and some of its provisions—notably the means-tested programs—were intended to offer immediate relief to families. However, the old-age insurance program—the precursor to today's

Social Security was established as a promise to the people of continuation of income into retirement. Well the road to hell is often paved with good intentions, because that promise now has the country in economic uncertainty. The guarantee that workers will be taken care of in their old age if they paid their Social Security tax, is no longer guaranteed. If we don’t come to a unanimous decision as to a plan of reform; financially our country is doomed.      Social Security has always struck me

“Accommodation for Disabled Workers: Knowledge of Rights a Good Start” at the Rand Corporation blog by author Kathleen Mullen. The article describes how employees quitting their jobs because of healthcare decline and applying for social security benefits. As a number of social security benefits increase it puts US funding at risk. The author knows several disabled workers that are faced with working with a health-related disability. Additionally, they are challenged to take care of their families in spite

Stephen Goss, chief actuary for the Social Security Administration to illustrate his claim and bring credibility to the explanation of how most undocumented workers are taxed which contributes to tax revenues and increases the overall social security trust fund. The weakness of the articles argument is the lack of substantiated statistics to support the quotes of his sources and their statistics. While having an economist and a Chief Actuary from the Social Security Administration is potentially very

Social Security A Historical View Social security, the federal retirement system, is one of the most popular government programs in United State?s history. Today, Social Security benefits are the backbone of the nation's retirement income system. The long road to the successful development of social security began in 1935. Before 1935, very few workers received job pensions. Those workers that were covered never received benefits because they were not guaranteed.

In this report, I will discuss the presently debated topic of the future of the Social Security program. I will do this by providing information on the history of the program, exploring the current standing of the program and its related uncertainty, and discussing the future of the program. The purpose of this report is to fulfill the business report assignment requirements by exploring the future of Social Security and what events have brought the program to where it is now. The problem with this