The Future of Social Security

Paper Summary:

This paper basically begins with a brief introduction to social security and how the money is distributed. It then gives a list of stakeholders (people interested and effected by the outcome of social security), with explanations of why they are stakeholders. The paper then describes the three main alternatives to the present system (raising taxes, cutting benefits or privatization). The author of the paper then proposes a solution to the social security problem (with costs, benefits and reasons for choosing the solution).

From the Paper:

"The future of Social Security has become an important topic of debate around the nation. Social Security, a pay-as-you-go system, is expected to start paying out more in benefits than it collects in taxes by 2017. The program is financed by 12.4% payroll tax which is divided between the employee and the employer. Social Security needs to be reformed, and it needs to be done quickly. America will face a crisis in the upcoming decade if nothing is done to improve the system."

More papers on The Future of Social Security:

• Research Paper # 3135 : "Funding the Future of Social Security"
• Research Paper # 7064 : "Funding the Future of Social Security"
• Essay # 38243 : "The Future of Social Security"

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