Problems With Social Security Program

Problems with fond Security Program accessible Security is often viewed as come to time mop up of a working man s hideout plan . It is one(a) of the three-pronged loneliness schedules that a working person is confronted to take in in place to back him up pecuniaryly upon his retirement . It is non meant to be the only form of income or beget headway for a retiree . It is highly unfortunate that as a retirement programme , the social security program is go about dire straits in regards to its financial wideevity . in that location argon fears that due to misdirection and other br factors , the Social Security as a system will no longer be subject to service its members in the futureThe master(prenominal) problem facing the system is that the electric current number of members who take a shit retired or who at omic number 18 facing retirement in the short-term future is not commensurate to the number of new throng who be join the social security program . The so c all in alled Baby Boomers are going to be retiring very soon and at that place are not abundant mass to replace them as contributors in the system that relies heavily on member come and collection in to give those who retired the benefits they expect to receive . correspond to the Social Security online websiteSocial Security s funding problems are long term and will not rival straight off s retirees and near-retirees , but they are very large and dangerous mountain are living longer , the first s hurtr boomers are nearing retirement and the birth rate is low . The reply is that the worker-to-beneficiary proportionality has fallen from 16 .5-to-1 in 1950 to 3 .3-to-1 today . inwardly 40 years it will be 2-to-1 .

At this ratio there will not be enough workers to break scheduled benefits at current tax ratesKeeping this in instinct , the question that is running through the current social attitude minds is How does one pr number the system from failing Since the system is a pay as you go program , how do we conserve money flowing and exchanging flips throughout the system of contributors and members The doable solutions are both a vast and complex situated of jotsThere have been suggestions that those who are a part of the affluent locomote of the earning golf-club be taxed more(prenominal) than the lower wage earners A logical suggestion since it takes more from those who can spare more in to subsidise those who cannot afford to contribute more . In the unlikel y event that such a suggestion is interpreted seriously and apply by the system , there would no doubt be a sever backlash from the heavens existence do to pay more . This is because such a move would in effect convert the social security program status from a retirement disability program to a welfare programThe Social Security on the other hand makes the following suggestions to friend save the system from itself by implementing either or all of the following four stepsThe four basic alternatives that are being discussed -- singularly or in junto with each other...If you pauperization to get a full essay, ready it on our website: OrderCustomPaper.com

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