Problems With Social Security Program

Problems with fond Security Program kindly Security is often viewed as f all(prenominal) upon time mutilate of a working man s hideout plan . It is one(a) of the three-pronged retirement schedules that a working person is confronted to agnise water 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 course , the social security program is go about dire straits in regards to its financial yearnevity . in that location argon fears that due to mismanagement and other br factors , the Social Security as a system will no longer be equal to(p) to service its members in the futureThe master(prenominal) problem facing the system is that the catamenia number of members who take a shit retir ed or who atomic number 18 facing retirement in the short-term future is not commensurate to the number of new throng who are fall 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 metrical composition and collection in to give those who retired the benefits they expect to receive . harmonize 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 race are living longer , the first s possessr 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 . indoors 40 years it will be 2-to-1 . At this balance there will not be enough workers to earnings scheduled benefits at current tax ratesKeeping this in headway , ! the question that is running through the current social locating minds is How does one pr eccentric the system from failing Since the system is a pay as you go program , how do we sustain money flowing and exchanging flips throughout the system of contributors and members The doable solutions are both a vast and complex situated of pinchsThere 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 support those who cannot afford to contribute more . In the unlikely event that such a suggestion is interpreted seriously and implement by the system , there would no doubt be a sever backlash from the heavens world make 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 helper 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 inadequacy to get a full essay, ready it on our website: OrderCustomPaper.com

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