Should Social Security Be Privatized
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Title: Should Social Security Be Privatized

Essay Details:

Subject: Miscellaneous
Author: James S
Date: May 6, 2012
Level: University
Grade: A
Length: 7 / 2001

Essay text:

This is not true. Most people are unaware of the fact that our current Social Security system is a "pay-as-you-go" program, which means that the revenue the federal government raises each tax year for Social Security benefits is paid out that same year to beneficiaries. Many economists believe that our Social Security system is in need of a major overhaul if today's workers are to receive future benefits. Thomas R. Saving, Director of the Private Enterprise Research Center at Texas A&M University says, "What is wrong is that the Social Security system was never set up to be a sound investment-based retirement system...

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