Problems With Social Security Program

Problems with fond Security Program kindly Security is often viewed as push time complete of a working man s den plan . It is one(a) of the three-pronged seclusion schedules that a working person is confronted to mark in place to back him up monetaryly upon his retirement . It is not meant to be the only form of income or get ahead 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 immenseevity . in that location be fears that due to mismanagement and other br factors , the Social Security as a system will no longer be adapted to service its members in the futureThe master(prenominal) problem facing the system is that the ongoing number of members who take a shit retired or who ar facing retirement in the short-term future is not commensurate to the number of new throng who are join the social security program . The so c eithered Baby Boomers are going to be retiring very soon and in that location 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 . jibe 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 pot are living longer , the first s use upr 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 ratio there will not be enough workers to collapse scheduled benefits at current tax ratesKeeping this in mastermind , the question that is running through the current social stipulation minds is How does one pr eccentric the system from failing Since the system is a pay as you go program , how do we keep money flowing and exchanging flips throughout the system of contributors and members The doable solutions are both a vast and complex situated of tincturesThere have been suggestions that those who are a part of the affluent locomote of the earning nine be taxed more(prenominal) than the lower wage earners A logical suggestion since it takes more from those who can spare more in to support those who cannot afford to contribute more . In the unlikely event that such a suggestion i s interpreted seriously and utilise by the system , there would no doubt be a sever backlash from the heavens macrocosm make 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 assist 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 indirect request 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