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< I> 1) How have (and will) the numbers of payers and beneficiaries of Social Security change (d) over the decades? < /I> The numbers of payers per beneficiary has decreased over the decades and will continue to do so. This is because life expectancy continues to rise and, consequently, the number of beneficiaries increases. Costs for social security will double each decade. < I> 2) How true is it that Social Security recipients are just getting back the money they paid into the system? < /I> It is not true at all. They generally get their money back several-fold and it is not even their money.
It is the money of the younger workers currently putting money into Social Security. < I> 3) How secure is the Social Security surplus? < /I> It is not very secure because the surplus is used to pay government operating costs after it is invested by the government in U. S. treasury bonds. As there are more beneficiaries and less payers per beneficiary, the surplus will also decrease. < I> 4) What is the coming crisis in Social Security, and why isi t not easy to solve? < /I> The crisis should hit around the year 2012. The crisis is that in 30 years the average annual benefit for retirees will have increased, and by each decade, total benefits will double meaning that in the year 2010 $ 1 trillion dollars will be necessary, and in 2050, $ 20 trillion.
The surplus will run out and so will the money for the ever growing number of retirees. < I> 5) What do YOU think are the best solutions to this problem? < /I> I agree with much of what the author offers as part of the solution. a) No benefits for potential beneficiaries making over $ 50, 000 a year (remove the income cap) b) Raise the retirement age I also think that employees should be encouraged to save for retirement and businesses should be urged to offer retirement plans of some sort. I think that Social Security should only be paid to those in great need and that the public should be made in some way to think of their own retirement and save their money. I think everyones retirement should be their own concern and they should plan well enough to live at almost the same standard during retirement. People should also be allowed to seek jobs for as long as they want to. If they didnt plan well for retirement and so they still need to work thats life course Im only 17 and I honestly think Im immortal.
Free research essays on topics related to: surplus, payers, retirement, social security, beneficiaries
Research essay sample on Payers Per Beneficiary Lt I Gt Security
