Question

400-500 words that respond to the following question.

“Social Security should serve as a foundation for employee retirement programs. Therefore, Congress should explore more extensive revisions to the program to ensure that the next generation of retirees will receive the benefit.” Do you agree or disagree with this statement? Explain your response

Answer 1

If we look at the present status it is quite evident that the existing social security plan only covers the financial protection to the elderly individual once they get retired from their jobs. From the stats provided by Social Security Administration, it is stated that more than 97% of the individual who has the age of 60 years to 90 years are enjoying the different types of benefits that are being ordered by the social security plans. Thus there is no doubt in stating that the effectiveness of the social security plan is quite efficient as it is providing the benefits to the maximum number of retired individuals.

Yet, despite having a lot of success and efficiency of this social security plan, it is important for the Congress to make sure that as soon as the individual retires from his or her job becomes eligible to enjoy the benefits of the social security programs rather than waiting for a certain number of years to have the eligibility and this can be done by modifying the current laws or enacting some new laws. As this program is universal in nature, thus it has a lot of popularity among the public and in fact, all the political parties are also providing their political support to these programs. Any law that has to be made or passed in congress, it must be ensured that the focus of the new proposed law should be on having greater efficiency of the plan and covering the greater number of people.

The living cost in the United States is relatively higher in comparison to the other countries and it becomes more difficult for the individuals once they retire from the job. The social structure is also quite different in the USA than in Asian countries where the elderly are taken care of by their younger ones by their children. Therefore it is important to have the greater coverage of these plans so that greater financial liberty can be facilitated to the people once they retire from the job. However, Congress has to keep in mind that there are chances of fraud and corruption too and appropriate action must be taken by the formation of strict rules and regulations. The coverage of social security plans must be increased and the limitation of fulfilling a certain number of years after the retirement should be either reduced or removed to include more people.