We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Article Review for Saving Social Security - Book Report/Review Example

Comments (0)
Summary
Social Security Social Security is coming under increasing pressure to lower costs as costs are projected to rise over the next three quarter of the century by another 2.5% of the GDP. A large number of retirees are availing their sustenance based on the social security system and these changes would put them at increased risk…
Download full paper
GRAB THE BEST PAPER
Article Review for Saving Social Security
Read TextPreview

Extract of sample
Article Review for Saving Social Security

Download file to see previous pages... Social insurance should be improved for people working for 20 years or more in lines of work covered by Social Security to ensure that elderly people do not have to face poverty. In addition, widows and widowers should be provided protection who lose up to 30% of their standard of living with the death of a spouse. Furthermore, this problem affects widows more than widowers. Social Security should also provide more attention to disabled workers who are more vulnerable to poverty (as 22% of disabled insurance beneficiaries live in poverty) than the general population. A simple method to deal with this is to remove any benefit reductions from the share of disabled workers. An estimate of the actuarial imbalance in 2004 for Social Security put it at 0.7% of the GDP for the next 75 years. This deficit needs to be eliminated in order to provide more strength to social security funding in the longer run. This could be achieved by redefining the policies used to assess deficit and by providing government intervention where required. The increase in life expectancy is also causing problems as the increased life spans mean greater load on the social security mechanism for care. The real way out is twofold – spending less before retirement and spending frugally after retirement. The government social security program can bridge up any gaps that are left behind in the spending of retirees. This could be achieved by increasing the tax base supporting social security and by increasing the normal retirement age. Widening gaps between income groups are also leading to lower tax collection supporting social security. The share of earnings above the maximum table-earning base (set at $90,000) has increased from 10% to 15% thereby leading to lower revenues. The table-earning base limits should be revised in order to increase the total tax base. Furthermore, research has pinned the link between education levels, earning levels and mortality rate so that people will higher education will outlive people with less education. This indicates that people with more income will reap more benefits from social security and so it makes more sense if they pay for it. In addition, if the benefits for high earners are lowered then the deficit for social security funds goes down by 0.18% of the payroll. A legacy debt has been established in social security funds because early contributors to the system were paid more than they invested into the fund. This legacy of overpayment continues to the present day and is expected to continue unabated as such for time to come. The overall legacy debt amounts to a staggering $11.6 trillion across generations so a method to finance this difference is required. Also certain state and local government employees are not part of the social security funding system thus causing imbalance. This imbalance needs to be restored by involving all available state and government employees at all levels and by using an actuarial system that allots 3 to 4% of payroll tax to settle the legacy debt. In addition, future workers ought to finance the difference for the legacy debt to reduce the stress on social security funds. Overall, these proposals will reduce social security benefits such that older people get least affected and similarly high earners get most affected. Furthermore, the tax base supporting Social Security will increase gradually over decades to deal ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
The pyramid of corporate social responsibility - article review
He describes three types of moral or ethical approaches and their orientation towards stakeholders. The main purpose of writing this article is to put forward a clear understanding of responsibilities and ethics expected in a business setting. Although the author states these ideas to isolate the moral components of corporate social responsibility, stakeholder management in a moral fashion is not easily acquired.
3 Pages(750 words)Book Report/Review
Article review
40). Three important facts mentioned in the article are first, that children learn through play, secondly, that it is difficult for educators fully to realise the potential of play and thirdly, that self-regulatory abilities impact significantly on learning over the longer term.
3 Pages(750 words)Book Report/Review
Social Security
There has also been an influx in older Americans have to acquire “retirement jobs” in order to maintain their income. Many low-income households utilize social security as their only income source. Women and minorities depend on Social Security due to lack of education and employment therefore leading to accepting minimum wage positions in which they are unable to save or invest to supplement social security benefits.
8 Pages(2000 words)Research Paper
Article review
This is interesting as it gives a lively opening to the article. The article focus on the cognitive impression of advertisement and the impact it have on the media. The article initiates with an advertisement where a man go for higher studies in France and get his education and marries a Parisienne woman and settles there.
8 Pages(2000 words)Book Report/Review
Article Review
But it is not happening and now people are so used to the concept of accounting irregularities that they do not care about them and therefore the stock prices just got immune to the historical effects of accounting and financial reporting blunders. The whole discussion signifies that people have accepted the presence of accounting frauds as a fundamental truth, due to this reason; they do not bother about them much.
6 Pages(1500 words)Book Report/Review
Article review
The review seeks to identify the constituents of corporate social responsibility and the ideal protocol of engaging them to acquire the set goals and objectives. Archie connotes several items in the article that are salient to deciphering the desired relevance upon the business environment.
3 Pages(750 words)Book Report/Review
Article review
In the beginning, it was not clear what corporate social responsibility entailed, except for the fact that organizations had a financial obligation to the immediate environment. However, it became clear that social responsibility entailed more than just the financial debt to the community.
3 Pages(750 words)Book Report/Review
Article Review
shed through the presentation of data that more than 46 million Americans which translates to about 16% of the population are lacking health insurance while a greater number than that are underinsured (Hawkins, 2007). The purpose of the information and data that is portrayed in
3 Pages(750 words)Book Report/Review
Article Review
Since managers are expected to perform multiple functions therefore having concrete goals and a system of achieving them allows managers to achieve their goals effectively. With sample selected from senior and middle management in hospitality
3 Pages(750 words)Book Report/Review
Article Review
Herein, it is highly imperative to understand the main objective of the article i.e. capitalism being on siege as more and more social, economic, and political problems are being given rise by
4 Pages(1000 words)Book Report/Review
Let us find you another Book Report/Review on topic Article Review for Saving Social Security for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us