Since the Social Security Program started way back in 1936, life expectancy has gradually increased, from 50 years old to above 80 for men and 57 years to 85 for women. Hence, the government has nothing to do but to raise retirement age from 65 to 67.
Another issue that may affect Social Security is lower mortality among infants. Yet, Social Security confirmed that the case is completely irrelevant. They just consider these people did not exist at all.
For an instance, if an individual dies at the age of 4, he/she will not be able to collect benefits rather he/she will not be able to pay payroll taxes.
Lower mortality rates may be attributed to those medical and technological advances. Infants and children would have less chances of dying because scientists were able to formulate the cure for these common diseases.
One thing that also helps in stabilizing Social Security is lower teen mortality. As we all know, most Americans start working and paying Social Security taxes at this age. Having safer and more efficient automobiles to prevent fatal accidents is the main reason for this.
Raising the age of retirement, I guess, favors the middle class and the wealthy people. The poor and the working class will definitely be affected by this act. Since the majority of the poor are inclined to work under tougher conditions, they tend to die earlier than those doing office works.
Social Security, as our economy, is dealing with financial crisis. Hence, the government must examine all the possible strategies to resolve the problems they are facing. It will definitely be unfair to keep on raising the retirement age and preventing our workers from acquiring their benefits earlier.
If you need to file your Retirement benefits and Social Security disability benefits, it is advisable to seek assistance from a qualified Social Security lawyer.
Another issue that may affect Social Security is lower mortality among infants. Yet, Social Security confirmed that the case is completely irrelevant. They just consider these people did not exist at all.
For an instance, if an individual dies at the age of 4, he/she will not be able to collect benefits rather he/she will not be able to pay payroll taxes.
Lower mortality rates may be attributed to those medical and technological advances. Infants and children would have less chances of dying because scientists were able to formulate the cure for these common diseases.
One thing that also helps in stabilizing Social Security is lower teen mortality. As we all know, most Americans start working and paying Social Security taxes at this age. Having safer and more efficient automobiles to prevent fatal accidents is the main reason for this.
Raising the age of retirement, I guess, favors the middle class and the wealthy people. The poor and the working class will definitely be affected by this act. Since the majority of the poor are inclined to work under tougher conditions, they tend to die earlier than those doing office works.
Social Security, as our economy, is dealing with financial crisis. Hence, the government must examine all the possible strategies to resolve the problems they are facing. It will definitely be unfair to keep on raising the retirement age and preventing our workers from acquiring their benefits earlier.
If you need to file your Retirement benefits and Social Security disability benefits, it is advisable to seek assistance from a qualified Social Security lawyer.
