With baby boomers beginning to retire in 2008, I have put a lot of thought in the problems Social Security will be facing for the next several decades. The problem is that there simply is that baby boomers did not produce enough children themselves and therefore there is simply not enough taxpaying adults per retiree. Statistics show that currently around 3.2 taxpayers per retiree, but that number is expected to drop to 2 taxpayers per retiree by 2030. Addtionally, if something is not done to resolve the problem, it is suggested that by the year 2040 Social Security and Medicare will consume around 60% of the national budget. That's 60 cents per $1 the government receives in taxes, leaving only 40 cents per dollar to run everything else. The problem cannot be ignored and that is why I thought of a solution to the problem and here is what I think could help solve the problem.
1. The Government provides tax incentives to keep people working longer.
What I mean by this is let's say for example that after a person reaches the age of 62, the government allows this person to work and receive tax breaks for working to a longer age. The break would increase as the person continues working into higher age.
2. Allow taxpayers to privatize part of their Social Security.
This allows taxpayers to potentially increase their retirement benefits while also releasing some strain on the federal government. There should however be a limit as to how much a taxpayer can privatize to protect them in case of an economic recession.
3. Create a long term bond that would directly suppor the Social Security System.
Unlike most bonds, this bond would directly go to fund the Social Security System. The bond would be long-term but would also be a high-yield bond to encourage invesment. It is clear that the baby boomer generation will be putting a large strain on the system but after that the strain will be loosened which is when the government will repay the bond.
• 
• 
• 
• 
• 
• 
• 
I think were screwed. I mean honestly the way the system was set up, a flaw has been found, and not an easy one to fix. Someone is going to get pissed cause they wont get thier money.
We may not be TOTALLY screwed, we can just not be the kind of people who grow old and pull money out of SS, that was never what I intended to do even before this problem arose. All we need to remember will help us is simply opening some savings account as soon as we open a bank account, throw in a measly amount of money at certain intervals of time, and on the long run, have some cushion just in case. It never was my interest to feed off other people when I retire.
so these illegal immigrants....why dont we make them perment residents make them pay into the system and since they are citzens they can't withdraw from the system.
Maranda Ash