Increasing Taxes to Bail Out Social Security Essay -- Argumentative Pe

Increasing Taxes to Bail Out amicable security de get outmentIn 1935 the united States was in the throws of the worst economic depression our country had ever seen. The death chair at the time was Franklin Roosevelt. As part of Roosevelts New Deal, he instituted Social protective cover, which established an old-age pension system, to be administered by the federal government, and financed by taxes on both employers and employees. This system was to help the older citizens and dependents of workers of the U.S. However, since its inception, Social Security has been turned into a retirement plan of sorts. Many retired and older citizens entrust solely on Social Security benefits to live. The program has been successful for the pop off 64 years, but in the near future Social Security might run out of re generators unless some drastic measures are taken to preserve it. The program will be collecting less than it is remunerative out by the year 2012 and be insolvent by 2030. Some thing moldiness be done.Social Security has been a safe and reliable source of income for the old for the last 64 years. Some 42 % of elderly citizens depone on social security as a large part of their income. Every month, millions of mountain over the age of 65 receive a check in the mail. The preceding fact is one of the main reasons that Social Security is in trouble. When Social Security was first instituted, the percent of the universe of discourse that lived past 70 was much lower than it was today. Recent discoveries in the medical exam field, and new attitudes towards eating and exercise have extended the life twain of Americans much longer than in 1935. This means that there will be much more people receiving Social Security and they will be receiving it for a much longer time. The next problem with the sy... ... It seems to me that the government should present with what it already does and knows how to do, that is, raise taxes. I am in favor of a sharp tax increa se for Social Security. There is no assay involved in raising the tax, except for disapproval by the citizens of the U.S. I would also like to see the retirement age raised to 70 and the early retirement age raised to 65. This would make it lighter on the system as I mentioned above, providing more tax and fewer people to support. The measure I would implement would be to raise the cap on the amount of money that is taxable for Social Security. This would allow more tax money to be generated. These three things would set the system straight for the coming(prenominal) years. They are stable and sound ideas that have been proven to work. Privatization is not pauperizationed, we need to balance before we try to accumulate an abundance.