1/2) Who do you think is poor, both in the United States and globally?Why do you believe people are poor in the United States and globally?
As we have discussed earlier there are many things that can attribute to people falling below the poverty line. Covering Social Security it is easy to assume that the very people who live below the line, would be those that depended solely on Social Security. I know that it is frustrating every week that are paychecks are dissolved to taxes. A question I ask myself is, I am having all of this money taken out to Social Security, but is it worth it? Will I even see it? I wonder if I would be better off choosing to not have it taken out and take the money and invest it into some stocks, or CDs. Now that I think about it....Hmmm....It is very important for our generation to realize this will be a major problem for us in the future. Because, imagine the struggle people are having now, and when we are older, the idea that there will be even less to depend on (if any of all...projected exhaustion- 2041!)I am fortunate enough to have a 401k plan that I consistently add to. I am also very disciplined in not touching that money. Another problem that many people struggle with that hit hard times. Pulling out from your 401k plans will lead you to being double taxed, and minimize what is there to rely on later when Social Security doesn't cut it.
3/4) What do you think is being done about poverty (e.g., specific policies and programs in the United States and globally) and how well do you think poverty is being addressed?What do you personally think should be done about poverty in United States and globally (e.g., specific private and government policies, programs, etc. that you would recommend)?
Unfortunately, there is alot on the government's plate here in the US. Wars, foreign issues, poverty levels, a dissipated economy....I think Social Security isn't a priority. While Social Security is a program that helps those in need, along with Disability, and Medicare trust funds, they problem still at hand is there is just not enough. I find it ironic that the suggestion for people to work into their 70s to help decrease the problems, yet last week we learned that we have one of the lower life expectancy rates in comparison to other industrialized nations! I remember my grandfather, an oral surgeon, pulling teach into his 80s! I used to think, while he was fortunate enough to not need to continue working, that he was lucky that he was still healthy enough to work if he had to! Think of how many people aren't that fortunate? How will we provide for them in 2041 and beyond? I think that it is important to evaluate other ways to ensure that people will have assistance in those decades and beyond. And ideally, be receiving more than they are now.
I also think the government's focus is not on Social Security. It scares me that the beneficiary to recipient ratio is declining due to the number of baby boomer recipient's and the small number of our generation beneficiaries. I hope I can retire at a decent age but unless I win the lottery its not going to happen! And who knows if all the money taken from my paycheck for social security tax is going to be there when I need it. Hopefully the government can tie up the loose ends in our social security programs.
ReplyDeleteI definitely understand your fear! It saddens me to watch my mother who will be 60 this year worry about her Social Security. She continues to work 60 hours a week to ensure she can get as much as she can. I think the best thing for us to do is hope for the best but prepare for the worst. If we focus on our retirement and our savings, then we will be ok. It will be truly sad for all of those who didn't acknowledge these down the road problems,and sad for those who have no power in changing them.
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