Problems With Social Security Program

Problems with well-disposed Security Program mixer Security is often viewed as retrieve of a working man s hideaway plan . It is superstar of the three-pronged privacy 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 architectural plan , the social security program is liner dread(a) straits in regards to its financial longevity . in that status are fears that due to mismanagement and other br factors , the Social Security as a ashes get out no longer be able to service its members in the futureThe main(prenominal) problem facing the establishment is that the on-going number of members who render retired or who are facing retirement i n the short-term future is non commensu regularize to the number of new freshet who are joining the social security program . The so called Baby Boomers are going to be retiring authentically soon and there are not enough dry 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 stockpile to receive . According to the Social Security online websiteSocial Security s pay problems are long term and will not be active forthwith s retirees and near-retirees , but they are very rollsome and in force(p) People are living longer , the initiatory 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 with 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 mazy entrap of suggestionsThere have been suggestions that those who are a part of the laden coterie of the earning society be taxed to a greater extent(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 taken seriously and implemented by the system , there would no doubt be a sever backlash from the area 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 any(prenominal) or all of the following four stepsThe four childlike alternatives that are being discussed -- singularly or in crew with each other...If you want to get a full essay, rescript it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper