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Problems Ahead
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Problems Ahead The United States of America has always prided itself on providing American with an opportunity to live a profitable life. Social Security has been one of the privileges that Americans have been given as part of their life. For sixty-eight years the American people have depended on Social Security as part of their retirement plan. As the years go by this plan will no longer be available for Americans. Changes are need in the Social Security Trust Fund. Workers need to be allowed to take part of their Social Security taxes and place them into private retirement accounts. This will prevent raising taxes, government spending, and the need to invest Social Security taxes into the stock market. Not all of these are the solutions will work, but Americans will agree that changes are necessary to save Social Security for future generations to come. As 2003 comes to a close, the future of Social Security is unclear. Franklin D. Roosevelt introduced the Social Security Trust Fund in 1935, as an insurance plan. He saw the plan as a way to help out the elderly. The original brochure for Social Security stated “We will set up a account for you, and the checks will come to you as a right.” (Glazer 10) Social Security is a pay as you go system. The funds for the beneficiary come from the worker and the employer. Their tax combined goes into the Social Security Trust Fund. Although the system has gone through a few minor changes in the years, it is still the same ‘pay as you go’ system. Now Franklin D. Roosevelt’s dream is suffering due to too many people retiring and not enough people working. The growth of the United States started with the baby boom. In 1960 there was five workers for each retiree; in 1998 there were only 3.3 workers for each beneficiary. It has been estimated in 2030 there will only be two workers for each retiree (baker3). These numbers will continue to change for many reasons. One there are smaller families. Americans no longer need to have larger families to work on the farms. This is due partly to and increase in immigration and day labor (Baker 3). Second, due to advances in medicine. The average person is living longer. In 1935 the average person lived to be sixty-one, today the average person lives to age seventy-six (Glazer 11).
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Paper Information
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Title: Problems Ahead
Words: 1920
Rating: None
Pages: 7.7
submitted by: violagod
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