The way social security is currently administered is not sustainable. The baby boomer generation has hit the point of retirement which means the trust fund has significantly more citizens taking money out than are putting in. The younger-working generation puts a portion of their paycheck in the fund but they will never get the money because it is going into someone else’s pocket and by the time they retire there will be no money left in the fund for them to have. I feel that instead of putting the money in a large trust fund, the money should still be taken out of paychecks but put into an account for that individual person, therefore you get out what you put in. Ultimately I feel that the social security system should be done away with and retirement funds should be privatized. (Edwards 454)
I think social security is sustainable as it is right now. While it looks like social security for the later generations, this is just an illusion. Right now tons of baby boomers are dipping into social security, more than there are people putting into social security. However baby boomers will not live forever. Eventually the baby boomers will pass away and won't be taking from social security and it will be our turn and this circle will continue. Actually, since there are more baby boomers taking from social security than there are putting in, once they all pass away, we will have a surplus of money because there are less of us who will need it and more money to give us. Social security may seem temporary right now but eventually there will be plenty to go around.
I disagree and think that the way Social Security is currently administered is not sustainable. As Cassidy said above, there are more people taking out of the Social Security trust fund than there are people putting in. Although there will come a time when there will be no more baby boomers, that time is far away. People are living longer than ever and it is the job of the younger generations to take care of the people who helped raise them. Also, if there are more people taking from Social Security now, there will be less money left over in the fund when all of those people taking from it eventually pass away. If there are less workers contributing to the fund and more people taking out, there will eventually come a time where there is little or no money left in the fund. We will have to solve the problem of providing enough Social Security benefits to older Americans before there will ever be a surplus of money left to the younger generations. Part of the job of the government is recognizing that there is a problem and Social Security will just become a bigger problem over time if it is not solved now. I believe that we can solve the problem of Social Security by taking a percentage of a person’s paycheck and depositing into an account for their own retirement expenses rather than everyone contributing to a trust fund that everyone takes from.
I agree with the people above, Social Security cannot last, by the time our generation can apply for social security there will be no more money left. I understand about the benefits and some people rely on the check however, there's not enough money going back into social security.
The way social security is currently administered is not sustainable. The baby boomer generation has hit the point of retirement which means the trust fund has significantly more citizens taking money out than are putting in. The younger-working generation puts a portion of their paycheck in the fund but they will never get the money because it is going into someone else’s pocket and by the time they retire there will be no money left in the fund for them to have. I feel that instead of putting the money in a large trust fund, the money should still be taken out of paychecks but put into an account for that individual person, therefore you get out what you put in. Ultimately I feel that the social security system should be done away with and retirement funds should be privatized. (Edwards 454)
ReplyDeleteI think social security is sustainable as it is right now. While it looks like social security for the later generations, this is just an illusion. Right now tons of baby boomers are dipping into social security, more than there are people putting into social security. However baby boomers will not live forever. Eventually the baby boomers will pass away and won't be taking from social security and it will be our turn and this circle will continue. Actually, since there are more baby boomers taking from social security than there are putting in, once they all pass away, we will have a surplus of money because there are less of us who will need it and more money to give us. Social security may seem temporary right now but eventually there will be plenty to go around.
ReplyDeleteI disagree and think that the way Social Security is currently administered is not sustainable. As Cassidy said above, there are more people taking out of the Social Security trust fund than there are people putting in. Although there will come a time when there will be no more baby boomers, that time is far away. People are living longer than ever and it is the job of the younger generations to take care of the people who helped raise them. Also, if there are more people taking from Social Security now, there will be less money left over in the fund when all of those people taking from it eventually pass away. If there are less workers contributing to the fund and more people taking out, there will eventually come a time where there is little or no money left in the fund. We will have to solve the problem of providing enough Social Security benefits to older Americans before there will ever be a surplus of money left to the younger generations. Part of the job of the government is recognizing that there is a problem and Social Security will just become a bigger problem over time if it is not solved now. I believe that we can solve the problem of Social Security by taking a percentage of a person’s paycheck and depositing into an account for their own retirement expenses rather than everyone contributing to a trust fund that everyone takes from.
DeleteI agree with the people above, Social Security cannot last, by the time our generation can apply for social security there will be no more money left. I understand about the benefits and some people rely on the check however, there's not enough money going back into social security.
Delete