What are the features of Social Security and the income security programs in the United States? Why was this structure created, and what are the benefits? Specifically, what are the problems with Social Security, and what solutions are available to
government to solve them?
What will be an ideal response?
An ideal response will:
1, Discuss income security as the idea notion that the government should provide a safety net for the most vulnerable members of society.
2, Specify the features of Social Security and the income security system, including funding sources such as the payroll tax and the provision of Social Security, Medicare, Medicaid, and income assistance programs for families.
3, Discuss the benefits of existing income security measures/programs and Social Security, including guaranteeing a minimum retirement benefit, health care assistance for the poor and elderly, and unemployment insurance.
4, Explain that the biggest problem with Social Security is finding mechanisms to ensure its overall solvency over time.
5, Discuss the competing proposals for dealing with the solvency issue, including raising the Social Security tax, reducing retiree benefits, partial privatization, and increasing the minimum retirement age.
6, Make an argument for which of these individually or in combination would be the best solution for government to pursue.
7, Provide a concise and effective conclusion.
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