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Persuasive Essay On Social Security

1794 Words8 Pages

Today as Americans, we suffer from many economic problems such as stock market crashes, health care spending, and social security issues. We do not realize what is happening because we are too wrapped up with everything else that’s going on in our lives so we choose to ignore it and let the problem fester to a point when it’s too far gone to fix. That’s the problem in our society, we pay too much attention to the unimportant things rather than to the problematic things right in front of our faces. The issue to cover today is the solvency of social security, will it be there fifty years from now or will our generation be succumbed to working until we die? This is an important ideal, because we need to keep our eyes open to worst case scenario. One reason to worry about our social security is because there are …show more content…

Back in the 1980s, abusing the system became a new trend and soon everyone hopped on the bandwagon. Politicians were one of the biggest contributors to this trend, they began with “temporary borrowing” which led to bad habits of not returning the money back into the fund. In the 80’s we didn’t really care about Social Security because it wasn’t a big concern, and now here we are thirty years later with a crisis of ‘Is there enough money to go around” and “If theres no money, when can I retire?” There’s also the problem of fraud. Statistics show that in 2012 fraud incidents had blown up by over one million peoples and the people committing fraud had stolen over 21 Billion dollars from our funds. (More Than 12 Million Identity Fraud Victims in 2012 According to Latest Javelin Strategy & Research Report. (n.d.). Retrieved November 9, 2014.) Another form of fraud is one done through Medicare. Medicare is

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The social security is a costing system and it occupies a big proportion in the government spending. In Barbara R. Bergmann’s article “Could Social Security Go Broke?,” she deems that there is enough fund in the social security system and the government can easily transfer the tax income from current employees and firms that employ these employees to the social security to support retirees’ lives. This point of view only can be considered as assumption, but not for the real world. After the finacial crisis in 2008, a large number of employees were laid off during that time and some employees decided to retire early, which results the labor force in American has shrunk. In the meantime, the presence of effective technology products,

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1289 Words | 6 Pages

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773 Words | 4 Pages

Younger workers are currently paying social security taxes to support the retired, and disabled. Younger workers are being cheated because the value of the taxes paid will not exceed the value of the benefits received in the future. Younger workers will never see the money they are contributing, as the Social Security system in its present form will be bankrupt. According to procon.com “The current social security program will become insolvent by 2034, so a better system is urgently required.” To elaborate, social security may result in bankruptcy because of the baby boom in 1946-1964.

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998 Words | 4 Pages

Since social security began in 1935, many retirees have depended on social security for many years. Though, according to predictions there is going to be a huge cut in the benefits of this program. The millennial generation cannot depend on the social security benefits, for when they retire in 40 years, they will need to find other ways to save for the future or to figure out a way to fix the social security trust fund from becoming expended. Social security is a foundation of economic structure for millions of Americans.

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1303 Words | 6 Pages

The article “Rich People Are Living Longer. That’s Tilting Social Security in Their Favor” written by Neil Irwin is about the high costs of Social Security for the federal government. The article focuses on the statistics of the “rich” living longer therefore their Social Security payout in the long run being larger than the “poor” who do not typically live as long. Social Security becomes perhaps wasteful, as the rich do not really need their Social Security versus the poor who are dependent on it.

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1002 Words | 5 Pages

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