Reform Social Security Essay

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Reforming the Way Americans Think About Social Security Will Social Security be around for all retirees? This has become a recently popular question over the past decade with working Americans. Concern for the system is growing. The Social Security Administration has stated, “ About 160 million people work and pay Social Security taxes and about 52 million people receive monthly Social Security benefits,” (Social Security: A simple concept, para. 1). Even though Americans pay into Social Security each year they should not solely rely on the program for retirement income due to the depleting resources, lack of reform, and its original purpose only to aid in retirement. In Social Security Act (2010), according to Encyclopedia Britannica, The Social Security Act of 1935 was an original U.S. legislation establishing a permanent national old-age pension system through employer and employee contributions; the system was later extended to include dependents, the disabled, and other groups. Over the years there has been a common misconception is that Social Security is a guarantee for all retirees. Unfortunately, retirees can be denied benefits if they fail to meet requirements for the program. Social Security works on a system of credits. To qualify for benefits retirees born in 1929 or after must have 40 credits or 10 years of work. To earn one credit with Social Security you must make $1,120 in earnings with a maximum of four credits in a year this is the current amount for 2010, and every year it increases. Prospective beneficiaries; must be US citizens and resident of one of the 50 states, 65 years or older, disabled, or legally blind (Social Security Administration, 2010). For example, if a retiree residing in America does not fit all of these requirements, they cannot expect to qualify for Social Security benefits. A retiree may have
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