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Rich People Are Living Longer By Neil Irwin: Article Analysis

1303 Words6 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. Social Security was not designed to give a bigger benefit to the rich. The benefits were intended to “replace 90 percent of a person’s first dollar of earnings but only 15 percent of their earnings over $5,157 a month (and nothing above the income …show more content…

The balanced budget amendment would prevent the federal government from stimulating the economy during an economic depression by increasing the national debt (Davis-Cohen, 2016). I believe a balanced federal budget would help the budget crisis. A balanced federal budget would require the President to submit a balanced budget for approval by Congress. The budget would put caps on spending and also at the same time allow flexibility on the budget in case a war or economic recession (Davis-Cohen, 2016). I believe the biggest pro for a balanced budget amendment is it would allow future generations to be protected for debts accumulated by previous generations. Our children should not have to live in a country that is trillions of dollars in debt from decisions their great-grandparents …show more content…

I have money taken out of my paycheck for Social Security. I hope to collect benefits in the future but I also have the worry that Social Security will be depleted soon. I would hate that the money I am paying into the program could possibly not be returned to me. My Grandmother is 93 years old and collects Social Security. Social Security gives her a little extra income but it still does not cover all of her expenses. My family has the financial burden of paying her living expenses that Social Security does not cover. This has a large impact on my family as they have to put money aside out of the paychecks to help care for my

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