The Social Security fund has become a big problem in today’s world. Many people, under the age of 22, are complaining that they pay into this fund, a fund for retiring baby boomers, yet they will never receive this money back because all of it would have gone to the retired of years before them. This is because as years go by the number of years people live go up or in other words people are living longer. This means that these people need retirement money for longer than they did 10 years ago and there is just not enough money being put in to provide that type of money. However there are people out there that say this is an easy fix; all you have to do is gradually raise the retirement age. Then there are the people who think that you need to make major changes like private investment accounts. There are many different views on whether Social Security is a good working system or not and here is my opinion.
I think that major changes need to be put in place. My paychecks are small enough and yet I get taxed on a social security fund that I will never see. Now I know that this fund is for the elderly which include my grandparents but you know what, my grandparents agree with me in that I shouldn’t have to pay money to support the enormous amount of baby boomers so they can take fancy vacations; especially when I do
n’t get the same treatment when I’m ready to retire. Me and my grandparents are not the only ones who agree with this idea. Vice President Joe Biden also agrees that there needs to be a change in social security. He believes that we should raise the cap of $97,500. However he agrees that raising the retirement age would help but he also says that by simply raising the cap you could solve the problem.
http://mayaseverson.blogspot.com/2010/02/issue-2-spendin-what-we-can-afford.html
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