One aspect of that plan is to allow individuals to invest most, if not all, of their own money into investments, rather than into the Social Security System.
Given recent economic events, discuss whether this plan will be effective.
How would this plan affect you?
Do some additional research on this topic (how Social Security can be changed or if it should remain as is) and include it in your discussion.
Since the end of Roosevelt’s reign and the end of the great depression, the social security program has not worked like it was intended, nor was it meant to last. The program should have stopped once America was out of the depression and back on its feet again. The program has been altered over the years to help benefit people who are undeserving of the benefits. I know the amount of money people are paid once they are able to receive social security benefits does not come close to what they put into it. How is that fair? I personally want all, if not more, of the money that I paid into social security over my lifetime back in my bank account. If people were able or allowed to stop paying the small percentage of their pay checks into social security but were required to pay that small percentage into some sort of investment account, the economy would definitely not be where it is today. Not only would putting the money into a retirement fund help secure everyone’s financial future if they invested properly, but about 99% of all investment type accounts have some sort of tax write off every year. This not only puts more money into your pocket, but it gives you more money to invest if you are smart with your money. If the program were to change and people are smart about what investments to make and use this plan effectively, they can work full time at their jobs, while working part time at their fortune.
If our current President or any of our future Presidents would really push the issue of social security and come up with a plan...