Problems With Social Security Program

Problems with fond Security ProgramSocial Security is often viewed as take time off of a working man s hideaway plan . It is one(a) of the three-pronged retirement schedules that a working person is confronted to seduce in place to back him up financially upon his retirement . It is not meant to be the only form of income or make headway for a retiree . It is highly unfortunate that as a retirement program , the social security program is go about dire straits in regards to its financial longevity . in that location are fears that due to mismanagement and other br factors , the Social Security as a system will no longer be able to service its members in the futureThe master(prenominal) problem facing the system is that the current number of members who take a shit retired or who are facing retirement in the short-term future is not commensurate to the number of new throng who are joining the social security program . The so called Baby Boomers are 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 and collection in to give those who retired the benefits they expect to receive . According 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 People are living longer , the first shaver boomers are nearing retirement and the birth rate is low . The reply is that the worker-to-beneficiary ratio has fallen from 16 .5-to-1 in 1950 to 3 .3-to-1 today . Within 40 years it will be 2-to-1 .

At this ratio there will not be enough workers to pay scheduled benefits at current tax ratesKeeping this in mind , the question that is running through the current social status minds is How does one prevent 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 suggestionsThere have been suggestions that those who are a part of the affluent locomote of the earning society be taxed more(prenominal) than the lower wage earners A logical suggestion since it takes more from those who can spare more in to subsidize those who cannot afford to contribute more . In the unlikely event that such a suggestion is interpreted seriously and implemented by the system , there would no doubt be a sever backlash from the heavens being made 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 help 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 want to get a full essay, ready it on our website: Ordercustompaper.com

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