If A Social Security Act Were Being Built Today - 904 Words

If a Social Security Act were being built today, I think it would look much different from the version that was created in 1935. There are many factors that have changed dramatically, and while there have been updates along the way in an attempt to address them, the program has still lagged behind to cause some to question its effectiveness and longevity. The very idea that government would be intervening in something that has such a large economic impact on the economy is frightening, but I do not feel we can rely on a system without Social Security. Today people live longer, has less saving, and right or wrong, have a higher expectation of living than people did decades ago. We live in a civilized country that contributes to helping others throughout the world, would we turn on back on our elderly or hope that someone else will find a solution? The idea of keeping government out and allowing a private solution sounds great, but ultimately I feel the problem will shift onto the citizens. In order to have the security we desire, some of our freedoms need to be given up. There are specific roles for which government action is unavoidable which Ryan Messmore points out, such as protection, national security, and federal social programs. On the contrary, he also points out that with that, the government holds too much power to influence citizens. He states, â€Å"The powers to pass laws and collect taxes entail the power to define, to some extent, the terms of publicShow MoreRelatedSocial Security And Economic Security1311 Words   |  6 Pages In 2033 a retiree with the average Social Security benefits of $1,294 will only receive 77% of this number or $996. This average retiree pays the average monthly costs for a single adult in Grand Rapids, Michigan of $1,323. This shows Social Security benefits today are sinking below the amount necessary to live. In the case the benefits are cut further, living on benefits will be impossible. This stays true to the 20% of retirees who rely on Social Security for all of their income. To make a trulyRead MoreSocial Security And Economic Security1582 Words   |  7 PagesIn 18 years, Social Security benefits could drop so that millions will not have the money to survive. On the other hand, it could not exist entirely. Social Security funds are sinking due to its history, its inability to obtain funds, and the retirement of the Baby Boomer generation. To make a truly accurate evaluation of Social Security one must look at the past, present, and future of the program which is depicted in the following paragraphs through the program’s history, its costs, and finallyRead MoreThe Main Features Of The Welfare State1638 Words   |  7 PagesA welfare state is a system in which the government provides benefits and services to its citizens intended to improve their well being, by providing for the social and economic security of the population. (Jary and Jary, 1995) This essay will explore the key features of the Welfare State from 1945 to 1970, analysing how effective they were at combating the ‘five giants’. The Second World War had a large effect on society. The whole nation had experienced such a terrible and traumatic time. ThereRead MoreThe New Deal And Social Security Act Of 1935 Essay1715 Words   |  7 Pages Poverty, Rehabilitation, and Legislation: The New Deal and Social Security Act of 1935. Jacquelyn R. 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This out-group faces many hardships and many different policies have been put into place both helping and harming their overall wellbeing.â€Æ' Policies Implemented For Homeless Many social welfare policies have been put into place throughout the course of history to attempt to deal with the ever present problem of homelessnessRead MoreReform for the Social Security System Essay872 Words   |  4 Pages The Social Security System is in need of a new reform; our current system was not designed for the age stratification we have at this time. The U.S. Social Security Administration Office of Policy states, â€Å"The original Social Security Act, signed into law on August 14, 1935, grew out of the work of the Committee on Economic Security, a cabinet-level group appointed by President Franklin D. Roosevelt just one year earlier. The Act created several programs that, even today, form the basis for theRead MoreThe Social Security System For The Elderly Citizens Essay1164 Words   |  5 PagesThe Social Security System is in need of a new reform; our current system was not designed for the age stratification we have at this time. The U.S. Social Security Administration Office of Policy states, â€Å"The original Social Security Act, signed into law on August 14, 1935, grew out of the work of the Committee on Economic Security, a cabinet-level group appointed by President Franklin D. R oosevelt just one year earlier. The Act created several programs that, even today, form the basis for the governmentRead MoreTaking a Look at The New Deal1763 Words   |  7 Pagesmajority of American people with policies such as Social Security. Banking and finance regulation The New Deal was economically radical; it gave the government a lot of power to regulate the banking system and finance system. The Glass-Steagall Banking Act of 1933 and the Emergency Banking Act of 1933 were among the first the New Deal policies. Both acts were aimed to regulate the banking system and to restore people’s faith in banks. The Emergency Banking Act â€Å"gave the secretary of the treasure the power