Where do you see the social security program heading in the

Where do you see the social security program heading in the next decade? How does income redistribution affect our society in a positive or negative manner?

Your opinion of social security, other agencies have borrowed all of social security funds and people are still pay into social security. What do you think should happen?

Solution

Social security programs are the Federal government and / or state sponsored programs, run for the social welfare of different classes of society. At present it is more focused upon:

In next decade, Social security program will be correlated with justice (Hardy, 1987) and it will be spread to all class of society to fulfil all their social security needs. This program will be managed by the government. Though, corporate will also contribute towards the social security programs.

It will also require increased contribution to cover the cost / financial part of social security program that will become a corner stone of wellbeing of the society.

In my opinion, Social security funds should only be dedicated to social security programs with proper budgeting of different nature of social security. Needs of other agencies should be ascertained separately and designated contribution can be taken to fulfill the funding requirement. It will make them more accountable in nature. Transparent policies help in building confidence and social security is also protected from abuse.

Reference:

Hardy, D.R. (1987). The Future of Social Security. Social Security Bulletin, August, Vol. 50, No. 8.