In today's society there is a problem that has been progressing worse as the days go bye. There are many possible approaches that can be concluded, the two main ideas are either getting rid of Social Security also known as "privatization", or merely cutting back on it. I recently read in article by Jeff Nygaard who is a free lance writer and activist in Minneapolis, and the founder of the social security project of Minnesota. His points are clearly stated throughout this short paper on Social Security Reform. .
Social security is a program in the Unites States that pays cash benefits to workers and the families of those workers, who suffered loss of wages from death, disability or retirement. Savings and pension are two other ways of retirement that are supposed to be used with social security, however people often rely on social security to take care of all of there expenses. 537 dollars a month is the average benefit for a low wage retiree, which is clearly not enough money to live comfortably with. Another sad fact is that social security leaves one out of every nine persons poor. Another reason why social security doesn't work is because the U.S lacks a national system of universal health care and maternity leave, whereas many other wealthy countries such as Sweden do.
One of the new proposals is called "privatization", which is getting rid of social security in a whole, and instead setting up Personal Security Accounts, wherein each worker would put money aside for retirement in stocks. Each person would be using just as much money as they usually pay for their social security taxes and possibly more money. The bad news about privatization is that the ones who would suffer the most would be the poor and working class people. .
Another more liberal approach to social security reform is cutting back on the current system, which would include raising the retirement age, and reducing the cost of living adjustments.