What does Social Security do and why does it face problems in the future?

Answer 1

Social Security is a ponzi scheme that takes money from workers, promising to 'give it back' when they retire, but, in fact, uses that money to pay current retirees. As long as there are substantially more workers than retirees (that is, as long as birth rates are high and/or lifespans short) the scheme works. But, lifespans have been increasing for most of the last century, and birthrates dropped dramatically starting in 1966. Thus, the scheme has been on the verge of collapse for some time now - the SS tax has been increased from 2% at it's inception to over 15% today, to keep it from collapsing.

Answer 2

Social Security is like a retirement plan for people in the USA! Once you turn a certain age you are entitled to a payment from social security based on what you have paid into the system while you were employed. I dont understand why SSI faces problems because I know plenty of people who pay into it and not all them receive the benefits. The government mis-uses those funds and that is why it faces problems in my opinion.

Answer 3

Social Security is a system implemented years ago to help older people when they retire or people whom become disabled. It's a great program. The problem is there are more people living longer and more pay-out to people who are handicapped, retiring and disabled. Social Security was never meant to replace retirement benefits or pensions. It is only meant to supplement retirement funds the individual has already required. And another problem with Social Security is politicians in Washington have access to it when they have run out of funds set aside for special projects. S.S. to them is a slush fund and they have abused it since it was first started. If S.S. had been used only by the people it was intended for it wouldn't be in so much trouble now or in the future. Even the parks and wild life is supported by S.S.. S.S. is paid in by individuals who see it as help when they are disabled or retire and it should be for that and nothing else AND paid only to those individuals who paid into it or are handicapped --PERIOD And justinM doesn't know spit. My dad paid in S.S. for over 40 years and probably drew 10 times more than he paid in when he became eligible. He quit working when he was 97 and died when he was 98. And S.S. helped him and Mom live a comfortable life. And you are not forced to pay in S.S.. It's a volunteer program, justinM.

Answer 4

social security is a number( the mark of the beast) and what it does is allow you to pay into something that you will never be allowed to collect a full one hundered percent on, the government feels this is a satifactory fringe benefit to please most federal us citizens. What social security does is tie you into a very tangled web, when you are born your parents sign a birth certificate( not a certificate of live birth.....There is a huge difference) which is actually a contract with the federal government, then the government says, joe schmoe was just born, in his life time he should make about 1.5 million dollars in his life time, then the government goes to the federal reserve(which is a group of private bankers, who exhert total control of america through the use of debt money) and gets a loan on your life and actions of it , then you become a sort of collateral to the federal reserve on the loan, and you as well become an asset to the federal government, which means that they OWN YOU!!!!!! sounds like the great, free america the we have all come to know, and that we have all lost, so thats what a social slave number is and thats why its bad. if social security is a topic of interest to you then you should check out Aaron Russos: America Freedom to Facism, a very awesome movie and it explains alot of stuff, keep asking questions bud, you are on the right road, and remember to always question authority,not in a bad way ,just question how they do all that they do and then you will uncover things that i know and would take far to long to put into a simple answer, just remember always question authority my fellow freedom fighter

Answer 5

Social Security is a supplemental income for those that have retired.
The problem is the "baby boomers" are all going to retire at the same time. Not enough money to take care of people that are now living to their nineties.

Answer 6

it was a scam thought up 50 or so years ago to increase taxes without calling it taxes..
designed to fail like any other pyramid scam
if the private sector did this they would be in jail
if you put in a mutual fund the same money they take out of your check you would have 10x the money at retirement they you would get with ss
which is what some republicans wanted to do..
but heavens no said most democrat if we do that then people will be able to live good and not vote for us

Answer 7

the appropriate difficulty is the infant boomers going from payers to payees ... and purely like each and every pyramid schemes .. they finally fall apart while no longer sufficient payers could be chanced on I additionally think of our fool politicians ridiculously believe the illegals are by some ability those new payers ... yet they are undesirable .. with little motivation to assessment english and able to earning sufficient to flow off of authorities courses to pay substantial taxes ... so as that they are going to in effortless terms upload to the authorities underfunding .. and not help Virginia .... there is not any SS fund! this is a FICA TAX .... TAX .... TAX ... What area of TAX do you no longer get? there is not any longer something interior the FICA TAX that asserts you ought to be paid something ... and while the money going out starts off exceeding the money entering into .... actual quickly ... those outgoing money will ought to be curtailed in some vogue

Answer 8

It was meant to pay a monthly benefit to retired people after years of working and paying into it, along with their employers. Also people who are disabled, and can no longer work, also their children. The biggest problem I can see down the road, is that too many young people who are able to work actually, are getting a lawyer, and hanging on until they finally are allowed to draw benefits. Along with several children, sometimes. So more people drawing benefits out, less paying into it. Just like a bank account, it will eventually run dry.

Answer 9

social security is a pension check from the gov't when you hit 62.

the reason it is facing problems is that there are more and more people collecting it (and not just retirees) than are putting into it.

Answer 10

the social security administration, distributes monies to people who are eligible for said monies,.....but soon there might not be enough money to cover those expenditures,.....