Sunday, November 16, 2014
The system was supposed to be a service in which the qualifying parties paid into. Then if became used for welfare. This has lead to the funding of the welfare of mentally disabled people, and those that are of retirement age that may not have paid into the social security system. The problem with the system is that there was too much money in there for a debt ridden government such as the USA. The misapplication of funds was legally bound in the fine print. The government isn't always honest, therefore people will suffer. I do believe it is unfair to the potential recipient who has paid their dues and got shafted on the deal. I do believe that welfare helps people, but social security was not meant to be the way it is. I think if you were born after the 1970's your chances of receiving the retirement fund are very slim. Taking THE GOVERNMENT TO COURT SHOULD HAPPEN MORE OFTEN. There is a serious opportunity cost being thrusted upon the tax-payers. This is because people could have saved their money privately or in a trust fund. guaranteeing them benefits. however its like a raffle where everyone is buying tickets, but not everyone will win. The negative externality is that elders who have no family around are living in poverty, limited mobility, and no one is assisting them. The independence and safekeeping in which they invested can and in some cases, has dissipated. The system sounded great, but the reality has left people without a way to live after their dues to society and to the social security fund have been paid.