because such transfers would just replace transfers that would already take place in society even without the tax. [Your answer here should be either necessary, unnecessary, harmful, or beneficial.] 8. To the extent most of the children in society are like the child in panel (b) above, then the transfers involved in the Social Security and Medicare systems would be to society on net because such transfers put these people on a less desirable indifference curve while leaving his parents in the same position they would have been in had he chosen to transfer money to them on his own. [Your answer here should be either necessary, unnecessary, beneficial, or harmful.] 9. As gently alluded to in one of the questions above, the analysis in this assignment assumes that there are no transaction costs associated with the extraction of the Social Security and Medicare taxes in society. Is this likely to be the case? [Your answer here should be either yes or no, but not both.] 10. In the space below, provide a short explanation of why you think the Social Security program is so popular even while it is either unnecessary in the one case and/or positively harmful in the other case, as noted above. [Your answer should be just a few sentences indicating why you think Social Security is so popular even when it is clearly harmful to society on net as indicated by this chapter of our textbook and this assignment.1