Ssn Reform

A Much Needed Change

Benjamin Franklin was the very wise man that stated, "In this world nothing is certain but death and taxes." Paying taxes is something that we can not get around, no matter how hard we try. We pay taxes on food and clothes. We pay luxury taxes when we go on vacation. There is even a death tax. However, one of the greatest controversies dealing with paying taxes is the social security tax. The social security tax is one of the payroll taxes that many of the working Americans miss from their paychecks. The social security program was developed with great intentions. It was designed to help supplement people's retirement, but over the years this turned into a great problem. The debate has gone back and forth as to weather or not the program needs to be eliminated or reformed. The people that argue that the social security program needs to be eliminated say that the money needs to be trusted to the people to save for their retirement. This is not an effective way to solve the problem. The program needs to be reformed in order to fit the needs of a growing society while empowering and educating people on how to prepare for retirement.

The social security program was developed as a result of the great depression. The stock market crashed in October 1929. "Before three months had passed, the Stock Market lost 40% of its value; $26 billion of wealth disappeared. Great American corporations suffered huge financial losses. AT&T lost one-third of