Social Security Be Around in Term Paper

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Total Length: 974 words ( 3 double-spaced pages)

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It would be nonsensical to take away Social Security, as the program, for all of its flaws, gives the government the ability to tax wage earners in support of the program. If this tax revenue is stopped, and the government still has to provide for those in need as it surely will do without Social Security in place, an attempt to solve one problem will be replaced with a much larger crisis.

Replacement of Social Security with a privatized system is a popular remedy for phasing out Social Security, but this is an unlikely scenario, given the fact that private accounts would only create a feeding frenzy among Wall Street power brokers to collect huge commissions on financial transactions, while the account holders are left with nothing (Baker, 1998). The bottom line is that ending Social Security is unlikely and impractical.

Conclusion/Recommendations

In conclusion, as has been shown, from a variety of viewpoints, Social Security will be around in thirty years; however, this is not to say that the program does not need help. In researching the Social Security issue, there are recommendations that have come about as a positive by-product of the research.

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Simply put, in closing, it is recommended that Social Security benefits be revisited, and perhaps adjusted to encourage individuals to take more responsibility for their retirement finances, and qualifications for benefits are closely reviewed. Then, and only then, will the future of the program be assured.

Outline

Thesis: In thirty years, Social Security will still be around Senior citizens need the program for survival

They hold huge political clout

No pragmatic politician will oppose senior citizens on the issue

Demographics in America are leaning toward elderly population

Support for the program will only grow with time

Social Security is needed

Without the program, public welfare will be compromised

Substitutes for Social Security are inadequate

1. Privatization will not work.....

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