The Social Security SolutionOUTLINEThesis: An overview of the Social Security dilemma and what possible solutions there might be.
I.Social Security 101II.The Privatization of Social SecurityIII.How Privatization would effect the young and ethnicIV.Bush's planV.The possible solution(s)VI.Works Cited PageSocial Security 101What is social security? Social security is a retirement program that provides an income for workers and their families during their lives and especially at retirement. It can be the only source of income for many retired Americans who have not made any other provisions for the twilight time of their lives. 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.
Social security also provides income for those people who have become disabled and can no longer work and for those spouses and children whose wage earner has passed away.
Many Americans believe that Social Security is bankrupt. But in reality Social Security will be able to continue paying out full benefits until 2053, after that 70 to 80% still could be paid out thereafter for decades. So with this in mind, Social Security is facing a long-term financial problem but it is not a crisis as some are trying to lead everyone to believe. The baby boomers are beginning to retire and will be tapping the Social Security benefits in great numbers. This being the case, a reform is needed and the system needs to be strengthened to be able to pay 100% and be able to continue to provide the benefits it has...