I am home schooled and I am suppose to ask people their ideas on how to solve the Social Security problem. It says in my book the population of working Americans is not growing quickly enough to fund continued increases in Social Security spending. At some point after the year 2000, the amount paid to retirees will exceed the amount collected to finance the program. Social Security will become an unsupportable burden unless something is done.

Question

Some solutions that have been proposed are: raising the retirement age, cutting annual increases in Social security, raising the taxes that finance Social Security, and paying Social Security benefits only to people who earn less than a certain amount of money, or to replace Social Security with a system of individual retirement accounts. Do you agree or disagree with any of these, or have any of your own solutions ?

Answer 1

I agree with these:

~raising the retirement age
~paying Social Security benefits only to people who earn less than a certain amount of money

What do YOU think?

Answer 2

I agreed most with paying social security benefits only to people who earn less than a certain amount of money. Because that will save the government money, and the rich and middle class people can save up money easier than low income families, so they don't really need as much help. I also agreed on raising the retirement age, because that's another good way to save money. I didn't agree with the others so much because I felt like if they raised the taxes, then the economy would hurt in other ways, etc.