Social Security Essay example

Submitted By kelseyrene3
Words: 1627
Pages: 7
Open Document
Social Security
Kelsey Medina
Econ 6th
02/09/15

Introduction
For my economics paper I am going to be writing about the pros and cons of social security. In today’s economy social security is either getting abused or being benefited towards someone who needs it and there is no way of telling which one is true. Social security is a way for people to be able to live and it is also a way to get free money. The government is setting their qualifications low and many people can easily qualify for social security these days and not need it. If this continues as it is, the future of social security is going to be very hard to get and very little money received.
Americas Hidden Credit Card Bill
Improperly using social security
In the article Laurence Kotlikoff makes very valid points about the view of the people who say that they can return and they know they won’t and call it just “borrowing”. The people leave it to the future generations to pay for what they could not and that is not fair at all. Social security is going to grow and health costs and insurance is going to be increased within the next 4 years if there is no action taken. People who don’t actually need the money should not be able to receive it and waste it. The congress released its budget outlook and the only good thing is this year’s deficit is about 3 percent of gross domestic product and it is the smallest since 2007.
These kinds of problems affect the economy more than others know. People need to pay attention to important information like this because when you get older and maybe even before that, this will affect you in one way or another. Social security can change the economy and how people live and if we don’t have any money left in social security because of right now and how people are using it then the future generations are going to have major problems. The estimated debt was calculated and was increased 5 trillion and our “fiscal gap” is basically our country’s credit bill and if we were to get rid of it then federal tax will increase automatically and permanently to 59 percent. As said in the article, “What we confront is not just an economics problem. It’s a moral issue.”
6 Reasons to Delay Social Security
Better benefits of waiting The best thing to do when it comes to social security is to wait until the right age to file for your social security and the chance of having better benefits is higher. As the article states, there are only two reasons you should file for social security early, if you’re having problems and have no place to live, no money to find a place, and no help. The other reason is if you’re having health problems and need help paying bills. Other than those two reasons there is no reason you should file for social security early. The benefits of waiting are much better and the money is better. Once you hit the age 62, the price increase 8% a year and lasts up until you’re 70. If you are a married couple there is a bonus for the spouse who makes more money. This article is a good reference on why you should wait till the right age to file for social security.
Tom Sightings, the guy who wrote this article has the best reasons on why to wait. If more people were to wait and file for social security then maybe we would not be so in debt and our social security would not be used for improper reasons. Waiting to file would help our economy much more than people think because then the more people who wait, the more money they get and the more money the government can give. Also if the qualifications were higher for social security then maybe not as many people who do not need it would have the chance to have it until the right time.
Billionaires Against Social Security
Future Generations
Billionaires are trying to make a way so that college students don’t blame senior citizens for not having a better future when it comes to social security. There are two foundations that they are trying to create and make word of it so that
Show More

Related Documents: Social Security Essay example

Social Security Essay

As a result of changes to Social Security enacted in 1983, benefits are now projected to be allocated in full on a timely basis until 2037, when the trust fund reserves are projected to become drained (Annual Trustee Report, 2009). In order for Social Security to grow, and to endure in the long run, institutions must met fundamental human needs and must be aligned with fundamental human motivations. Institutions can be modified and changed, but it must emerge and conform to the experience of the…

Words 970 - Pages 4

Essay on Social Security

Social Security Tamiko Holloman Strayer University PAD 510-Intro. To Public Policy Analysis Dr. Thomas Walkington December 11, 2014 Historical Perspective on Social Security The purpose of this paper is to critique a policy across two different presidential administrations. It begins with a historical perspective, followed by the social, economic, and political environments associated with molding the program. It will also identify a couple issues across two presidential administrations within…

Words 3254 - Pages 14

Essay Social Security

days, but what if you had an almost 80 year old I Phone that was in okay condition but you knew you really needed to upgrade. That is the same issue we have with Social Security, it was developed almost 78 years ago in 1935. With the promise of being a safety net for aging Americans, people with disabilities and a death benefit. Social Security wages are taken in the form of taxes by the government, and in turn are used to fund the program, the government creates the guideline on how much each individual…

Words 959 - Pages 4

Social Security Privatization

Mitchel Spencer Macroeconomics November 11th, 2014 Final Should Social Security be Privatized? A question that has been talked about a lot in the recent years is the privatization of Social Security. This is the case because Social Security is scheduled to become insolvent by the year 2037. This means that by that time the Social Security system will only be able to pay out 75 percent of benefits to beneficiaries. This is where privatization comes in. People are pointing out that there is a 25…

Words 1429 - Pages 6

Social Security Dbq

The Social Security Act came to be because of two separate factors, the Industrial Revolution and the Great Depression. You see, before these two events which shaped the United States to what we know it as today security for the elderly came from another source. In this time prior to the 1930’s America was almost entirely an agricultural nation. A typical life in this period would be to grow up on the farm working the land until you were too old to do so. Once this occurred your extended family would…

Words 950 - Pages 4

Social Security Paper

“Is Social Security Worth Salvaging?” The social security program is a hot topic right within our political realm, and those governing our country do not know how to fix the current issues, if they should even repair the program, or if it should be scraped altogether. This is slightly alarming, although not too surprising, given the United States’ recent political and economic track record. Because a bipartisan agreement is literally something out of a fairy tale at this point in time, it would…

Words 788 - Pages 4

Social Security Threats

but if this is true, why are so many people so quick to throw their bank and credit card information at whatever website happens to have the items they want at the time, and why are we so trusting of online job applications that require our social security number and criminal…

Words 690 - Pages 3

Social Security In America

The Social Security Act was adopted in 1935, which regulated unemployment and retirement programs. “The United States was a relative latecomer in covering its employed workers with compulsory old-age insurance, and perhaps, for this reason, it is not surprising that the U.S. program was largely inspired by continental European models, particularly the German example, in the 20 or more years preceding its adoption” (Hoskins (2010, pg. 79). Social Security has become essential for many Americans; many…

Words 944 - Pages 4

Social Security Dbq

Social Security is one of the largest government programs, that provides a monetary assistance to people. Social Security pay billions of dollars to Americans over age 65, whom have worked for the county, monthly; every year. Social Security benefit can be for retirement, disability, death, or Medicare/Medicaid. This paper will discuss the position Democrats and Republicans have regarding Social Security. Social Security was passed by Franklin Roosevelt in 1936; during the Great Depression.…

Words 193 - Pages 1

Social Security Benefits

Goal: Article About Social Security Benefits Word count in this document: 367 Title: SSDI and chronic kidney disease If you are trying to get social security benefits chronic kidney disease, there are a number of things you must do and steps you must take. All genitourinary disorders that result in chronic kidney disease are evaluated. These disorders include things like hypertensive nephropathy, diabetic nephropathy, chronic obstructive uropathy, and hereditary nephropathies. You will need…

Words 385 - Pages 2