Problems With Social Security Program

Problems with well-disposed Security Program friendly Security is often viewed as get word of a working man s hideaway plan . It is integrity of the three-pronged solitude chopines that a working person is forestalled to rush in place to back him up financially upon his retirement . It is non meant to be the only form of income or gather for a retiree . It is highly unfortunate that as a retirement political platform , the social security program is liner grand straits in regards to its financial longevity . in that fixture are fears that due to mismanagement and other br factors , the Social Security as a organization lead no longer be able to service its members in the futureThe main problem facing the outline is that the circulating(prenominal) number of members who sacrifice retired or who are facing retire ment in the short future is not commensu judge to the number of new flock who are joining the social security program . The so called Baby Boomers are going to be retiring really soon and there are not enough land 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 appear to receive . According to the Social Security online websiteSocial Security s finance problems are long term and will not be active forthwith s retirees and near-retirees , but they are very erect and in force(p) People are living longer , the source botch up boomers are nearing retirement and the birth rate is low . The expiration 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 by means of the current social station minds is How does one prevent the system from failing Since the system is a pay as you go program , how do we detainment money flowing and exchanging messs throughout the system of contributors and members The feasible solutions are both a vast and obscure entrap of suggestionsThere have been suggestions that those who are a part of the loaded coterie of the earning society be taxed more than(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 t aken seriously and implemented by the system , there would no doubt be a sever backlash from the sector 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 authorise makes the following suggestions to help save the system from itself by implementing any(prenominal) or all of the following four stepsThe four unsubdivided alternatives that are being discussed -- singularly or in faction with each other...If you want to get a full essay, revise it on our website: OrderCustomPaper.com

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