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Position Social Security

Justin Batalden Rahl Senior English B, 3 March 4 2009 Social Security August 14, 1935 was the start for the incline out of the Great Depression. This almost unimportant date brought along a program called Social Security that helped bring eligible citizens of this program, money for their retirement. President Franklin D. Roosevelt signed the Social Security Act in hopes that it would increase the economy of the United States of America and, in a way, make it so that the country would never have to be in a Great Depression again. With how our economy seems to be failing today, and how social security is now making it hard for many retirees to live a healthy life. The funds they gain from social security are not enough for any current retiree citizen of the United States to live prosperously. Social Security is not an effective way for citizens, of the U.S., to retire, so it either needs to be abolished out of the American government or it has to be amended in way that the funds are sufficient enough for retirees to live a healthy life. The process of Social Security was a great idea for bringing some extra money to the pockets of citizens during the Great Depression and decades to come. The reason it worked so well was the high employment rate and the huge increase in capable workers from the baby boom in that time. This increase in workers brought an increase in the amount of funds that would go to all the workers in 10 years. Social security is only eligible to workers who achieved 40 credits. Any person working in the United States can achieve one credit for working for a period of three months and gaining $900 in that Batalden 2 period. In this sense, a worker would achieve four credits if the person gained $3,600 in a 12 month period. During the 10 year period the employee is still paying for Social Security, which is an approximate 7% of the workers current paycheck. Anyone is eligible for Social Security even if the person is a non-citizen, if this is person is working in the United States; they pay for the program and gain the benefits that come from Social Security. This, in a sense, is very wrong for only citizens of the United States of America should be paying for and gaining from Social Security. Social Security was made so that the citizens of the United States were gaining from their 7% tax of their hard earned paychecks. Foreign workers do supply to the fund of Social Security but they also gain from it to when they reach the time of retirement. So regular citizens are paying for non-citizens that have reached an age of retirement, this is unacceptable and another flaw in the program that helped bringing saving to a new sense. Social Security is typically a forced savings account that can be accessed by the government and then distributed to all the retirees in the United States who are qualified for the program. Well for this to work efficiently the worker amount has to out gain the unemployment amount greatly. So as the funds coming into the savings account is enough to accommodate all the beneficiaries of the program. The program worked greatly in the 1950s because the ratio was approximately 16.5-to-1 but unfortunately today the ratio is now 3-to-1 and with that ratio it makes it much harder for the saving account to gain sufficient funds to accommodate every eligible candidate for Social Security. In the future if the ratio continues to fall at this rate it would be at 2-to-1 in 30 years. This ratio is not what the creators of the program intend for the future of America. So this of course would be a problem for the efficiency of the program. This shows that Batalden 3 something needs to be fixed for something to come out right for the future of the United States. The creators of the Social Security program intended the program to help bring more money to the pockets of the retirees. They intended for the United States to be the biggest economic power after the Great Depression if the early '20's of the 20th century. Unfortunately, this vision of the future was a little off, for now the economy isn't looking so powerful for the big powerhouse of America. The unemployment rate has increased and companies are failing. This means less jobs for the citizens of the U.S.A. That also means less money for retirees who are dependent on the funds of Social Security. For this reason we need to find a better alternative for bringing in the funds for Social Security. If we keep having our citizens pay 7% of the paycheck to some old man that is not even receiving a sufficient amount of funds for him to live a happy retirement. This causes this man to try to get back into working for some money, but of how our economy is today and how old this man is the chances of him finding a job is very slim almost impossible for him. If he is lucky he could find a job as a Wal-Mart greeter which is a sad job for some man that deserved his retirement from working hard but now is working at low job of greeting people to a super market. For these main reasons, something needs to be changed in the soon future about Social Security. Either we get a new source of funds or we move to a more reliable source of money and bring our own retirement funds that would in the end most likely cover a full retirement if planned out right. Life for a retiree should be enjoyable and the fact of how much money they have left to buy groceries should be the last of their worries. Let's make a change as the citizens of the U.S.A., for our future.

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this is a paper about how social security needs to be changed




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Date: 6/8/09
Other: Writing