Social Security
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Title: Social Security

Essay Details:

Subject: Social Issues
Author: Judy P
Date: December 2, 2015
Level: University
Grade: A
Length: 14 / 4093

Essay text:

This 12.4 percent is not put in a savings account and given to you when you retire. Your money is being paid to those who are already retired. By the time that you retire, you will only get what you put in plus about two percent. You could earn that by putting your money in an account at the bank. The 6.2 percent plan allows the worker to take their portion of the Social Security tax and set up personal accounts in which they can invest their money into secure markets that pay back traditionally between 6 and 12 percent. Your employer's 6.2 percent would still be sent to pay Social Security costs such as disability and survivor's benefits as well as to pay the transition costs associated with changing to this new plan...

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