Problems With Social Security Program

Problems with fond Security Program kind Security is often viewed as get under ones skin time dour of a working man s den plan . It is one(a) of the three-pronged privacy schedules that a working person is confronted to stimulate in place to back him up financi altogethery upon his retirement . It is non meant to be the only form of income or bedevil headway for a retiree . It is highly unfortunate that as a retirement course of study , the social security program is go about dire straits in regards to its financial doggedevity . in that location atomic number 18 fears that due to misdirection and other br factors , the Social Security as a system will no longer be adequate to service its members in the futureThe master(prenominal) problem facing the system is that the latest number of members who take a shit retired or who atomic number 18 facing retirement in the short-term future is not commensurate to the number of new throng who be association the social security program . The so called Baby Boomers atomic number 18 going to be retiring very soon and there are not abundant mass to replace them as contributors in the system that relies heavily on member numbers pool and collection in to give those who retired the benefits they expect to receive . fit in 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 deal are living longer , the first s cast offr boomers are nearing retirement and the birth rate is low . The reply is that the worker-to-beneficiary dimension has fallen from 16 .5-to-1 in 1950 to 3 .3-to-1 today . indoors 40 years it will be 2-to-1 .

At this proportionality there will not be enough workers to catch up with scheduled benefits at current tax ratesKeeping this in learning ability , the question that is running through the current social situation minds is How does one pr subject the system from failing Since the system is a pay as you go program , how do we economise money flowing and exchanging flips throughout the system of contributors and members The doable solutions are both a vast and complex situated of specksThere have been suggestions that those who are a part of the affluent locomote of the earning federation be taxed more(prenominal) than the lower wage earners A logical suggestion since it takes more from those who can spare more in to subsidi se those who cannot afford to contribute more . In the unlikely event that such a suggestion is interpreted seriously and utilise by the system , there would no doubt be a sever backlash from the heavens world do to pay more . This is because such a move would effectively 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 attend 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 extremity to get a full essay, ready it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper