The social security system has been a topic of political debate for over 25 years. Various positions have been taken on its ability to meet its objective of providing a minimum level of economic security for retiree's, the need for drastic changes in the system, and the possibility of allowing for alternative private funding arrangements forsocial security.

This chapter discusses the mechanical process required to compute and collect the taxes that fund social security. Because the health and future of the social security system is important to all of us, I would like your views on whether you feel the current system is adequate (is it meeting the needs of retirees), whether you feel it will be able to meet the demands of the next generation of retirees (the baby boomers), and what, if any, changes could be made to the system to improve it. 

What do you think will be the impact of President Trumps executive order to Defer Payroll Taxes between September 1st and December 31, 2020?

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The social security system is a federal insurance scheme providing benefits for pensioners and those who are unemployed or disabledIn simple terms it helps retirees unemployed and disabled from financ... View the full answer