Social Security Needs Reform

Social Security is a program for eligible workers and their dependants that provides income when they reach retirement age (65), become disabled or die. The US government's Social Security account is funded by taxes garnered from working men, women and their employers. The tax is 6.2 percent of a workers gross wages and the employers match that for a total of 12.4 percent. The money gains interest throughout the worker's life and in theory will be an additional …showed first 75 words of 1578 total…

…showed last 75 words of 1578 total…Security," Congressional Budget Office, (30 September 2004) [online]. Available from <http://www.cbo.gov/showdoc.cfm?index=5666&sequence=0>; accessed 12 March 2005. President's Commission to Strengthen Social Security, [online]. Available from <http://www.csss.gov/>; accessed 13 March 2005. "Strengthening Social Security and Creating Wealth for All Americans," Report of the Presidents Commission, (December 2001) [online]. Available from <http://www.csss.gov/reports/Final_report.pdf>; accessed 12 March 2005.