Essay Benefits Of A Social Security

1162 Words Nov 19th, 2015 null Page
An important question that is emerging related to retirement is whether or not Social Security will be active in the future. As a result, it is a question that I am beginning to ask as well for many reasons; the foremost being because my generation is one that it will have a tremendous impact on. Social Security benefits are often overlooked; most individuals solely rely on them after retirement as a replacement for income, despite the fact that the program was not created as a job replacement. Other individuals claim benefits while still working full- or part-time; however, it is becoming evident that Social Security is needed for most Americans after they retire in order to continue living a comfortable lifestyle. If it is not available in the future when I retire, what will be the outcome? Social Security was created in 1935 as a result of poverty during the Great Depression; it was originally designed specifically for retired workers, until the law changed to include survivors, benefits for retiree’s spouse and children, and for individuals with disabilities (“Frequently” n.d.). Employees currently pay 6.2% of their income into Social Security tax; this tax is then added to the funds and dispersed to people who qualify for Social Security. Over the years, there has been “about 3.3 workers per beneficiary…After 2030, the ratio will be two workers per beneficiary…” (Goss 2010). This is because baby boomers are beginning to retire and there is a substantial population gap…

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