social security/govt

Name
Instructor
Course
Date
Social Security Effects in the U.S.A
The federal government of the United States of America operates a social security plan, which obliges employees to make regular disbursements to a government reserve.Social security benefits are significant because they provide a continuation of financial assurance for an individual or family when regular income is no longer available. The social insurance program reduces poverty and protects the unemployed against inflation of the economy and financial market. Citizens who are incapable of working due to old age, disability, and retirement receive these payments. Children and spouses of deceased workers also benefit from the social security scheme, guaranteeing them economic wellbeing (Worth 3).
Slow salary growth, high rates of unemployment, birth rates, and a decrease in life expectancy are among factors likely to affect social security plans in the future (Worth 126). If I had government power, I would propose an increase in the social security tax to sustain the welfare program, in addition to removing the wages cap to ensure the wealthy contribute more into the social fund. Reducing payouts by at least 15% would warrant more people receive benefits for a more extended period. I would propose an assessment to abolish welfare payouts to American citizens who have taken up personal insurance to save for their retirement, hence assisting those who solely rely on the Government social fund.
The aging population in the U.

S face more issues than any other segment of the population. The old people are prone to mental and health complications due to biological effects in comparison to young people. Senior citizens living in the countryside experience high levels of poverty than their counterparts in urban regions. Young people leave rural areas in a quest for employment, to gain economic freedom.
Social security continues to benefit millions of American since it’s establishment in 1935. The program economically empowers people who are not able to work to keep living with financial independence.
Work Cited
Worth, Richard. Social Security Act. New York: Marshall Cavendish Benchmark, 2011. Print.