American Government Personal Statement Example | Topics and Well Written Essays - 250 words

American Government - Personal Statement ExampleIt is feared only a percentage of payment of benefits ordain be raised from FICA taxes, thence causing an imbalance that will need to be found from the Social Security Trust Fund, which as years go by will diminish. late(a) economic events have increased levels of unemployment meaning less people are paying into the Social Security system. Some may invest into an unsuitable common soldier system or none at all this raises questions as to what would happen to them and their surviving relatives in the event of disability/retirement or death, thus the forte of privatisation is doubtful. For those who invest snobbyly, this may mean better benefits are paid, than the Social Security system offers (Shipman, 1995). However, an element of risk concerns private investment, whereby people could lose out if private companies collapse/become bankrupt due to the economy (or due to dishonest investments), and that amounts paid could vary accordi ng to stock markets (Campbell and Feldstein, 2001). If Social Security is privatised, I will need to give greater thought to the future, much earlier. Private plans need to be put in place to ensure financial stability in retirement, and in case of long-term disability or death.