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It was Republican senator Marco Rubio who said that “But heres what I would tell people of my generation. I turn 40 this year. There isnt going to be a Social Security. There isnt going to be a Medicare when you retire. Forget about what your benefit is going to look like. There isnt going to be one if we dont make some reforms to save that program now.” It is this understanding that has led many leaders to believe that in order to survive, social security must be turned into an optional program for it members rather than mandatory. This case study shall be written in terms of someone who has had previous experience with the inner working of social security, yet through provide suggested solutions to the problem based upon the feelings, understanding, and needs of the members of the system. It shall thoroughly present the situation of the company and confidently describe the future of social security if changes are not made to the program immediately.
Social Security is something that employed people from all walks of life look forward to collecting once they reach the mandatory age of retirement. It is like a forced savings account that everyone is forced to participate in so that they can have some sort of financial nest egg once they become too old to work. That is the main concept behind the existence of Social Security.
Although the system had a very premise for being brought into existence by then President Roosevelt, the system was mishandled and its programs ended up being mismanaged over an extended period of time. This led to the financial disarray and incapacity of the system to truly answer to the needs for which it was first created. However, that is not to say that the problems in the system cannot be fixed. But the solutions may be difficult to implement so other options to social security should be looked into
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Everybody wants to be social. Educational institutions are no exception. More important is social networking to the staff and students of one and the same University – a well-designed social network has the potential to improve the quality of learning and bring teachers and students closer to the desired learning outcomes.
Workers make monthly contributions to this system and receive their benefits at due time. Individual saving accounts are not maintained by this system but a group of individuals who are supposed to retire at a particular a time are put together. However, there is been a debate on whether this social fund should be privatized or not.
The programs were introduced by Roosevelt’s administration in order to curb the negative impacts of Great Depression on the US citizens and economy2. Social security is the largest federal program in the world and accounts for more then $ 3 trillion of federal budget.
In Colonial America, "Relief was made as unpleasant as possible in order to "discourage" dependency. Those receiving relief could lose their personal property, the right to vote, the right to move, and in some cases were required to wear a large "P" on their clothing to announce their status" (DeWitt, sect.
A high unemployment rate is a signal that a country is not healthy, and hence is not operating at its potential.
An economy is said to be fully employed when the number of job seekers equals the number of job vacancies. In other words, members of the labor force who really want a job have one.
I chose this topic for my paper because the Social Security System for his or her post-retirement income affects every person in the United States.
The social security system was originally founded as a program of social welfare in an effort to provide supplemental income for those individuals who are without work.
e money to really be of any impact or importance to them and hence they should just comply with the new tax policy and just give away their social security money which can be utilized by the federal and state governments in other national and state development projects of great