Social Insecurity

1. As the "baby boomers" prepare to retire, the Social Security Program will soon be spending more money than it takes in, and our generation will be paying taxes for Social Security that we will never even get the benefits from. The Social Security Program is going bankrupt. This needs to be fixed. President Bush proposed having Americans direct their Social Security payroll contributions to private investment accounts, or Privatization of the system and cutting benefits for everyone but the Americans who are truly in need, however others are not willing to take those drastic measures. Some think that the Social Security program currently runs a surplus and satisfies many people. On the others think that Social Security can be saved by raising the cap on earning that can be taxed for Social Security(90,000 currently) and raising the retirement age over time.

2. I believe that the Americans should direct their Social Security payroll contributions to private investment accounts. With Private Investment accounts or personal retirement accounts, people would be guaranteed that they would receive the money that they invested when they retire . "Those beneficiaries whose PRAs have a higher return can share in that return, which reduces the burden on the SSI fund, and the principal balance is fully inheritable", says Alexander. I also think that some of the Social Security benefits should be cut from the people that don't need it. There are many wealthy people that don't need Social Security and that can live just fine without it. This could be a step in trying to save some of the Social Security money for our generation. I also think that our generation shouldn't depend on government alone to give us Social Security. It is not guarenteed to be there for us. We need to start investing our money now so that we can retire at a decent age with enough money without relieing on government decisions.

Article link:
http://patriotpost.us/alexander/2005/02/11/what-social-security-crisis

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Issue #1 War Dollars- http://felicia01.blogspot.com/2010/02/issue-1-war-dollars_18.html

Issue #2 Spending What We Can Afford- http://mayaseverson.blogspot.com/2010/02/issue-2-spendin-what-we-can-afford.html