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Social Security Pros And Cons

1724 Words7 Pages

It’s All About the Money
Social Security is the world's largest government run program and accounts for 26% or 906 billion dollars of total U.S federal spending (procon). Many politicians such as Donald Trump believe that social security is not a trustworthy system, while many people like Hillary Clinton think the system needs an improvement. With the presidential election coming up, social security has been a highly debated topic. With many Americans retiring in a couple years, and many new people entering the work force, can social security hold up? The mastermind behind the Jimmy Johns sandwich shop believes that this program should be abandoned. (Why?) Almost all of the wealthy people out there are against it because of the fact that …show more content…

Even though many elders have stayed out of poverty due to this system there's still more reliable and trustworthy systems out there such as the 401 K (Renn). On the other hand, there is support for social security. It has kept many people out of poverty and allows elderly to still live their life to the fullest. (How?) The money for the elderly right now is guaranteed and that's why many people believe this program should stay. 78% of people believe that this program should stay while 22% believe that it should go (“History and Debate of Social Security”). This evidence shows that the people agree with the system and that it should stay around. Still, with the money not guaranteed in the foreseeable future and younger people putting into the program without having a solid way out has created a lot of negative feedback. Families with one working parent are affected the most by social security because if they need that money now and they might not even get it when they retire could put them into poverty. The main topic around social security is should the rich be taxed more in the program, but not many people aren’t talking about keeping it or abandoning it. Social Security in the U.S should be eliminated due to the lack of funding and all the unanswered questions …show more content…

Due to the government's funding of social security's money, it has created a hole in wealth in this government run system. Money when put into the program immediately goes out to people or is invested into other government programs (bad deal for young and old). What this proves is that we don't have a blanket of money in the program so we immediately have to give out the money the program receives. Social Security not only is the program in debt but it's still investing some of the people's money into a government trust bond. “With an average of 1 to 2 people paying for every retiree the government needs all the money it can get to help keep Social Security out of debt” (Renn). This statement is accurate about the money in the program. When the program was working well people got their money with the help of 36 workers now the get it from 2, there are so many retirees in the future and with such an ineffective way of payment the program will not hold up. In my opinion, we should just get rid of the program; yes it will benefit the old but the younger people might never see their money and if they make more they might save more. Also, how can people trust their money into a system that can guarantee it back or even give it to someone else because the government is also investing the money. To continue, as the programs severe drought with money continues the

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