Problems With Social Security Program

Problems with fond Security Program genial Security is often viewed as produce time withdraw of a working man s hideout plan . It is one(a) of the three-pronged retirement schedules that a working person is confronted to fix in place to back him up monetaryly upon his retirement . It is non meant to be the only form of income or perplex headway for a retiree . It is highly unfortunate that as a retirement curriculum , the social security program is go about dire straits in regards to its financial prospicientevity . in that location atomic number 18 fears that due to mismanagement 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 received 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 f every(prenominal) in the social security program . The so called Baby Boomers are going to be retiring very soon and in that respect are not abundant mass to replace them as contributors in the system that relies heavily on member total and collection in to give those who retired the benefits they expect to receive . gibe 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 multitude are living longer , the first s harborr boomers are nearing retirement and the birth rate is low . The reply is that the worker-to-beneficiary symmetry has fallen from 16 .5-to-1 in 1950 to 3 .3-to-1 today . at bottom 40 years it will be 2-to-1 .

At this symmetry there will not be enough workers to impart scheduled benefits at current tax ratesKeeping this in estimate , the question that is running through the current social military position minds is How does one pr vitrine the system from failing Since the system is a pay as you go program , how do we keep abreast money flowing and exchanging flips throughout the system of contributors and members The doable solutions are both a vast and complex situated of implicationsThere have been suggestions that those who are a part of the affluent locomote of the earning nightspot 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 t o 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 creation do to pay more . This is because such a move would efficaciously 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 sustain 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 hope to get a full essay, ready it on our website: OrderCustomPaper.com

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