Privitization Essay -- essays papers

PrivitizationEvery working American citizen contri furtheres to mixer protective covering. Anyone who has everheld a furrow has felt the frustration of seeing how much money the g every last(predicate) overnment takes step forward of their passcheck. Being told that we will all be equal to stack away friendly security when we can no longerwork does non moderation the frustration of having 6.2% of our hard earned money taken from us sepa gradelypayday. If individuals could have control of their retirement funds, this frustration could beeased. Being able to control our own retirement funds is an option that is being support moreand more by American workers.Currently, nearly 44 one thousand thousand Americans receive Social auspices benefits. Of these 44million, 61% are retired workers, 17% are survivors of deceased workers, 12% are spouses andchildren of retired workers, and 10% are disable workers. Obviously, the major group of SocialSecurity Beneficiaries is ret ired workers. Since the number of working Americans has notgrown along with the number who are retiring, Social Security has draw a black hole to thecurrent generation of workers. We will pay into it most of our lives, but will not be able tocollect unless a drastic change is made.Everyone has heard the ongoing debate over the past few years about what should bedone to clear Social Security. The Social Security Board of Trustees estimates that by the year2032, Social Security funds will be fully spent. There are several reasons for this, including theretirement of the baby boom generation and the assumption that the U.S. miserliness will growat a slower rate than it has been. firearm republicans and democrats fight over whose plan isbetter, there is a simple resource to Social Security privatization. By making social security aprivate matter for individuals, everyone can benefit. One of the plans the government isconsidering includes partial privatization, but it is sti ll centered around a flat tax deducted fromthe paychecks of American workers.The idea of Social Security is a good one. There are many retired workers who wouldnot make it without Social Security. I have seen it myself. My cause has been in banking formore than 20 years, and during that time I have seen all kinds of people coming in to deposittheir Social Security checks. The bulk of them are middle class, retired workers, a... ...s. Since 1996, they have received an averageannual rate of return of more than 14%.There are some who would turn over that too many people might make poor coronationchoices, and end up going to the government for assistance upon retirement. There is no sureguarantee that this would never happen however, this has not happened in Chile, Galveston, orSan Diego. The purposes of mutual funds is to make a profit with very short risk. By investinginto these and other low-risk programs, there is very little misadventure of people making poor choicesth at leave them with nothing.The simple fact is that in private owned retirement accounts would produce an incomemuch greater than Social Security provides, and we wouldnt have to face the problem ofrunning out of money. hearty life programs like the ones in Chile, Galveston, and San Diego showhow successful Social Security privatization can and would be if only the government wouldgive us the emancipation to choose how to protect our future. The current system has failed. Its justa matter of time until Social Security is bankrupt. It is time for the government to let the peopledecide how to provide for their own futures.