social security
... Hitt 2 income. According to the Constitution, it is the government’s duty to “promote the general welfare.” Following the outbreak of the Great Depression, poverty among the elderly grew dramatically. Many of the elderly had no other choice but to go on welfare. There was a great need for Social Security among the poor elderly. Some people needed help with dealing with one’s own health, retirement, disability, aging, or death. Having Social Security makes these people feel secure and protected against what happens in their future. Thanks to Social Security the extended families do not have to financially rely on each other with this program to support them. If people choose to do away with Social Security, they are putting their money at risk. The same as people who put their money into stock markets: they are gambling with their financial future. President George W. Bush announced his intentions to reform Social Security and Medicare during the early months of his presidency. If President Bush discontinues the Social Security program for eighteen to forty year olds, it would cause some serious problems. People between those ages are already paying for Social Security that they may not ever receive. Having a back up plan for the future gives people reassurance and hope for their future. Social Security helps individuals help themselves manage their income throughout their lives. Some people like the idea of the government being in charge of their income, so they do not have to take on the responsibility themselves. Social Security is something that is expected and always has been. Another alternative to President Bush’s proposal would be to support his decision to discontinue mandatory Social Security participation for ages eighteen to forty. One needs to make wise choices and start saving his or her cash of retirement in the future. Hitt 3 By that time, you could have a large sum of money invested in the bank plus all of the annual interest. Having discipline and being responsible is a must if society chooses no Social Security in America. Americans do not need the government to handle their hard earned money and take it out of their paychecks. Each individual should have a choice whether or not he/she wants Social Security. How much can one expect in benefits? This depends on how high your earnings are under Social Security. The more one makes, the more benefits he shall receive. But the lower one’s replacement rate, the less benefits. Benefits are weighted to favor the lower earner because he has less opportunity to save of invest. Supporters for Social Security can sometimes make one feel vulnerable in society. Doing away with Social Security gives a person freedom to invest whenever and however much money they want. It might be taking a risk but society has to show the government that they can manage their money and be successful without the government’s help. Family members and relatives usually feel some degree of accountability towards one another. The government is not always there in times of need, so when there is a problem, family is usually there to protect and be supportive of them. The government can only do so much at one time before any laws are passed. The future of the Social Security system rests ultimately on the commitment of the American people to future generations. The...