Social Security1

Social security system1 Social Security Social Security is a federal redistri exception program that collects concederoll department tax incomees from rate of flow workers to provide pensions for current retirees. Since the government is expecting a enormous amount of retirees within the coterminous twenty year, they have proposed 4 plans to save Social Security. The four proposals are reducing benefits, change magnitude the retirement age, raising payroll taxes, and privatizing part of the system. Todays Social Security taxes crowd out early(a) savings. Fixing the trust fund by raising taxes or cutting benefits would be fairly simple, but both approaches would lonesome(prenominal) make Social Security an even worsened think than it is now. Approximately 75 percent of American workers pay much in Social Security taxes than they do in income taxes. base on the Social Security Administrations own assumptions, payroll tax rates would have to increase from 12.4 to 19.5 percent for promised benefits to be paid. Although much(prenominal) tax inc...If you want to get a full essay, rate it on our website: OrderCustomPaper.com

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