The current system has disproportionate burdens for current and future youth, if not changed immediately. 1. There are simple reasons as to why the system is projected to be unable to pay future benefits. A.) Social Security involves today’s workers to pay for retirements of today’s retirees. B.) When Social Security began there were 16 workers paying in for every retiree. C.) In the future there will be 1 or 2.
D.) The benefit formula is increasing above inflation but it is not enough to cause the problem. E.) The ratio of working to retired is the problem.
The debate isn’t whether we will go broke it is when.
2. If projections are correct, we will be dipping into a surplus in the Social Security taxes. A.) This is not fair and the “surplus” does not exist, the government borrows against our own money. B.) At this rate the system will be short on money by 2042. C.) This will make for higher taxes, and cuts in government spending. D.) Worse case scenario, benefits will be also be cut.
I sequenced my paragraphs as such to show my audience the severity of Social Security benefit decline in the near future. Most people are not aware of how Social Security even works. I had chosen this topic because I do not agree with the idea, that there is no need for retirement plans because Social Security pays for itself. That thought process is false. I am here to disprove that claim and show my audience that is imperative to have a retirement plan as soon as you are employed. The earlier the better and having more than one is ideal. I plan to be able to educate my audience as well. I will be researching the best retirement plans. Showing my audience how and where to invest is key in persuading them to believe what I am saying and eventually gain their trust. This will be somewhat easy, because I feel that not everyone has a plan. I will not only win my audience but educate them as well.