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Social Security

“That if anyone is not willing to work, neither should he eat.” (2 Thessalonians 3:10) Social Security should be abolished, and should be replaced by a voluntary insurance system with incentives for individuals to provide for their own financial futures. No one today argues with the statement that the Social Security system has major problems. It is known that sometime around the year 2037, the “cushion” of money in Social Security will be exhausted and it will return to a pay-as-you-go system, where taxed revenues will be used to support recipients of the program directly. It will not mean that Social Security is bankrupt, but it will be susceptible to catastrophic, unforeseen events. On a pay-as-you-go system, all funds are paid out. If there is a mass influx of new claims, or a major event where new benefits will be paid out, there may not be enough tax revenue to cover all the expenses. Any deficit will have to come from other sources such as the General Fund, or some other agency’s budget. Social Security’s main problems are: it is compulsory, it is unfair to younger workers, and it decrea


In conclusion, Americans, historically, do not like to be told what they can and cannot do. With Social Security, they are being forced to do something that many don't believe in and don't want to contribute to. To make matters worse, they are being told to do something that is not fair for most of the individuals involved. Social Security should be abolished and the contribution that companies currently make to the social security system should be given to the employees to invest as they see fit. Let each person decide how to best invest their money to provide for their own future. The government should give this freedom back to the people.

Social Security has led to a decrease in savings by Americans. Historically, America has the lowest amount of savings, per capita, in the industrialized world. The guarantee of a retirement check leads many workers to become complacent and not plan for their futures. The amount you will receive from Social Security upon retirement is not enough to keep a person above the poverty level. To plan on living on this income alone, is to plan on receiving welfare and other

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Approximate Word count = 755
Approximate Pages = 3 (250 words per page double spaced)


  

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