Social Issues Of Social Security Essay examples

978 Words Feb 17th, 2016 4 Pages
When people buy a product they pay knowing they will receive a good or service in return. When people pay taxes, they pay, knowing it 's the law, and receive some type of service in return. This is not the case with Social Security. Countless young people see this tax as something they are paying for but will never obtain anything in return. There has to be a better alternative; there is, privatizing Social Security.
Social Security is a program in which the government provides money to people who are unable to work because they are old, disabled, or unemployed. Social secretary is paid based by taxes the current workforce to pay current benefits. Benefits are regulated by members of the government and also include retirement and disability benefits. Because beneficiaries don’t own their social security accounts the benefits are not set by the recipient, the government sets the benefits received. Many misinformed Americans including the elderly believe that they have "earned" their Social Security through their lifelong payroll taxes. However they are pay-as-you-go systems. Today 's taxes pay today 's benefits; little is actually saved. All works perfectly for the beneficiaries, because nearly all retirees receive benefits that far exceed their payroll taxes.
These benefits are greater than expected, according to “If workers invested 12.4 percent of their earnings in a private retirement account yielding a moderate rate of return (say, 3 percent…

Related Documents