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Social Security be privatized
Thesis on privatization of Social Security
Thesis on privatization of Social Security
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When we hear about social security we think of that number every adult and college teen should memorize as they venture on the real world. We don’t think any more of it and most people don’t know about the benefits of such a number and having one. Some migrants from other countries dream of being in America and having a social security so that they may reap the benefits of having such a number and becoming a US citizen, while most every day people just assume it’s a number. What social security is would be a program created back in 1935 and it was used to provide old age, disability, and survivors insurance and on top of that, a supplemental security income which is a income for the elderly and/or disabled people of these United States. Now lets say we privatize all that and therefore do what we did with healthcare, of course their will be good outcomes of doing such a move but where this is good, there will always be bad no matter how good something turns out to be. The stock market, pride, government, all of these are several factors that can be towards privatization of social security but also can be bad things about it as well. Without the government we lose order, with the government we have less freedom, with the stock market people could win, without the stock market (when it crashes) people lose, yin and yang, pro and con one cannot exist with out the other.
Lets discuss a pro about what would happen or in better terms, something good that would happen through privatizing social security. As we all know, some Americans do not like the government being in charge of so much of life. If Social Security became privatized, this would emancipate the American people and give each individual citizen a right to have control ove...
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...ctors could be considered, but also several worsening factors could be looked at to. Its like facing between a republican and a democrat, both have different pros and cons amongst themselves and the same with privatizing social security for us. Both it has a good portion of the facts going for it but then you also have your bad side.
Works Cited
“Should Social Security Be Privatized? –Pros and Cons” by Michael Lewis, moneycrashers.com
“Social Security Full Retirement Age” by Kaye A. Thomas, fairmark.com
“Should Social Security Be Privatized?” +Pro and Con facts, procon.org
“How Social Security Numbers Work”, howstuffworks.com
“Stock Market History The Dow Jones Industrial Average Closing History Since the Great Depression” by Kimberly Amadeo, about.com
“Simplifying Social Security Proposals Common Sense Says No to Privatization” by Deborah White, about.com
outline causes leading up to 1929 stock market crash - policy implementations to fix those errors then compare to rise of great depression in 2008. there are similarities and differences in focus when analyzing these two large crisis. explain lessons learned from both eras and raise main points
Municipal control or an alternative delivery method? This is the question that has intrigued all levels of local government and created intense debates between taxpayers across municipalities. The services that municipalities provide are often vital to the existence of a local area. The issues of accountability, cost savings, quality of service and democracy often arise when choosing the best options to deliver services to a municipal area. In recent years the concepts of privatization, alternative service delivery and public-private partnerships are often promoted as ways cut down on overburdened annual city budgets and promote a higher quality of service to citizens. Municipalities have historically always provided basic services such as fire protection, water purification/treatment and recreational facilities. However, would private companies or another municipality be able to better deliver the same services more efficiently or at a lower cost? The city or town often provides a political grass roots approach to most local problems. Municipalities are better positioned and have a wider scope to provide services to their constituents in order to ensure quality of service that does not erode accountability and transparency, or drive the municipality deeper into debt.
The stock market crash of 1929 is the primary event that led to the collapse of stability in the nation and ultimately paved the road to the Great Depression. The crash was a wide range of causes that varied throughout the prosperous times of the 1920’s. There were consumers buying on margin, too much faith in businesses and government, and most felt there were large expansions in the stock market. Because of all these...
I still remember. Things started changing on a Thursday.“Three or four days before the Depression, on Thursday, October 24, 1929 12.9 million shared traded, in excess of 7.9 million shares. The system could handle 4 million, but not 12.9 million so people got frightened they would lose their money. People panicked and started selling. The ticker tapes were an hour and a half behind the market. By the end of the day, the market had fallen 33 points around 9%.On Monday, the market bounced back a bit, just enough for people to feel a sense of security, until the end of the day when high trading volumes also put too much pressure on the market. Down spiraled the market another 13%. On Black Tuesday, October ...
There have been numerous debates within the last decade over what needs to be done about welfare and what is the best welfare reform plan. In the mid-1990s the TANF, Temporary Assistance for Needy Families, Act was proposed under the Clinton administration. This plan was not received well since it had put a five year lifetime limit on receiving welfare and did not supply the necessary accommodations to help people in poverty follow this guideline. Under the impression that people could easily have found a job and worked their way out of poverty in five years, the plan was passed in 1996 and people in poverty were immediately forced to start looking for jobs. When the TANF Act was up for renewal earlier this year, the Bush administration carefully looked at what the TANF Act had done for the poverty stricken. Bush realized that, in his opinion, the plan had been successful and should stay in effect with some minor tweaking. Bush proposed a similar plan which kept the five year welfare restriction in place but did raise the budgeted amount of money to be placed towards childcare and food stamps. Both the TANF Act and Bush's revised bill have caused a huge controversy between liberal and conservative activists. The liberals feel that it is cruel to put people in a situation where they can no longer receive help from the government since so many people can not simply go out and get a job and work their way out of poverty. They feel if finding a job was that easy, most people would have already worked their way out of poverty. The conservatives feel that the plans, such as the TANF Act, are a surefire way to lower poverty levels and unemployment rates as well as decrease the amount o...
There are millions of Americans affected by social security. These Americans rely on social security to provide them with financial security. Recently President Bush agreed to proposing a method of privatizing the social security program so that in the future the vast reserves of the social security system would not run out nearly as fast. With the always increasing rise in inflation, and the baby boomer generation reaching ages of retirement fairly soon, this is an issue that needs to be dealt with correctly and rapidly. The way the president is handling the situation is definitely the right way to do it. There are many things and ways in which to do it wrong, but the president seems to be pointing the plans of social security in the right direction. The president’s plans of reforming social security are right because the privatization is the best way to go, changing the rules for those who would apply for it increases the savings and makes the money go farther, and working with the distribution of different tax percentages would really make the money go a lot farther.
Throughout the 20th century governmental responsibility has made remarkable progress. One major milestone of the widening of the responsibility of the federal government was it’s making an obligation to care for the elderly and retired in the form of social security. In 1935, the Social Security Act was enacted by the federal government to provide financial security to the elderly, retired citizens in America. Although the federal government first took on this responsibility in 1935, it is still affecting our lives today. However, social security would not have advanced this far without many organizations and individual reformers to begin and improve social security throughout history.
Social security was designed to assist constituents during financial hardship. The program insured non-Negroes who needed unemployment compensation, met retirement age requirements, or child welfare prevention programs. Despite its forward objective, critics’ perception of the social security program was depicted as legal thievery. M.A.’s candid retort to the government’s evasive program was simply to rape the pocket’s of the people. M.A. as well as others primarily prepared for retirement or a rainy day from stock returns. Contrarily, the social security program stimulated other economic restructures, which included limited full-time workers. The shift in the economy and Roosevelt’s failed promises created a wedge between the people and the government. For instance, Mrs. OM voices her views of President Roosevelt’s campaign as a misleading trick. She further explained
During 1928, the stock market continued to roar, as average price rose and trading grew; however as speculative fever grew more intense, the market began to fall apart around 1929. After the stock market crash, a period began that lasted for a full decade, from 1929 to 1939, where the nation plunged into the severest and the most prolonged economic depression in history - the Great Depression. During this inevitable period, the economy plummeted and the unemployment rate skyrocketed due to poor economic diversification, uneven distribution of wealth and poor international debt structure.
On Tuesday, October 29th, 1929, the crash began. (1929…) Within the first few hours, the price fell so far as to wipe out all gains that had been made the entire previous year. (1929…) This day the Dow Jones Average would close at 230. (1929…) Between October 29th, and November 13 over 30 billion dollars disappeared from the American economy. (1929…) It took nearly 25 years for many of the stocks to recover. (1929…)
Social Security is a system that was set up in 1935 after the Great depression to help people get through tough times. "Social Security is now used by nearly 44 million Americans"(policy.com). Only people who payed into social security are eligible to collect when they retire. Many people think that they receive the money they pay in but that is not total true. The money that you pay in is used for the people that are receiving it now. "In 1950 there were 16 workers for every beneficiary; today there are only three workers per beneficiary"(policy.com). There is more money going into social security then coming out now. The extra money goes into a trust to be used when it is needed. By the year 2032 those numbers are going to drop. By this time most baby boomers will be retired and collecting social security. This will put a big strain on the funds. There will be more money going out then coming in. And it will not take long to use all the money that is in the trust. By the year 2034 they will only be able to pay 75 percent of the beneficiaries. "The projected average monthly Social Security benefit in 2032 of about 1,100 (in 1998 dollars) would fall to about $800, and would drop further in later years. Average benefits for low-wage earners would drop from $670 to $480"(www.ssab). Theses cut would effect the people just starting to receive benefits and those who are already receiving benefits. And with each year these benefits will decrease. As these benefits continue to decrease "the percentage of aged people living in poverty would rise"(www.ssab).Most people believe this is happening because of the baby boomers generation. There will be more people taking from social security then giving in. By the time my generation is eliable to receive social security there may not be any money to give.
Davis, Kennith. “The Birth of Social Security.” In Visions of America’s Past, edited by William
"Social Security Should Be Run by the Government" by Institute for America's Future.Capitalism. Noël Merino, Ed. Current Controversies Series. Greenhaven Press, 2010. Institute for America's Future, The Perils of Privatization: Social Security Privatization Cuts Lifetime Benefits; Makes Senior Citizens Vulnerable to Poverty: The Impact in the United States. Washington, D.C.: Institute for America's Future, 2008. Reproduced by permission. .
On October 29, 1929, the roaring twenties ended. The U.S. stock market crashed and the
"Great Depression in the United States." Microsoft Encarta Encyclopedia 2001. CD-ROM. 2001 ed. Microsoft Corporation. 2001