Friday, February 19, 2010

Social Insecurity

ISSUE #3 Social Insecurity
The problem with the Social Security fund is becoming huge in the world today. Many people, under the age of 22, are complaining that they pay into this fund, a fund for the retiring older generation, but they will never receive this money back because all of it will go to years before them. This is because as years go by the number of people are living longer. This means that these people need pension for longer than they did 10 years ago and there is just not enough money being put in to this fund to provide that type of fund. Some people out there say this is an easy fix; all you have to do is gradually raise the retirement age. Then there are the people who think that you need to make major changes like private investment accounts. There are many different views on whether Social Security is a good working system or not and here is my opinion.
I think that this is a big problem because, while my generation has to continue to work until older age, the generation before us will be rolling in our social security funds. They get live life to the fullest while I'm working to support them with my social security funds? I don't think that it is fair that the money taken out of my paychecks is going to the generation before me and i'll never see it again. A lot of people think that this is a big problem. Joe Biden agrees that we need to raise the cap by $97,500, As well as raise the retirement age.

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