Take the simple case of the retired Americans, who live on social security. Their income -- in the context in which it is limited to social security -- is not sufficient to ensure a decent life style. In other words, the system is unable to adequately support the individuals, and these need to also ensure their pension funds from other sources.
"To have a comfortable retirement, Americans need much more than just Social Security. They also need private pensions, savings and investments" (Federal Citizen Information Center, 2005).
The current social securities system is complex and inefficient and, as the editors at How Stuff Works point out, it is no longer applicable in the current context of the dynamic and modern day society. This is explained through two elements:
1. The aging of the population. In the time when it was created, the working population was significantly higher than the retired population, meaning as such that it was easy to finance those in need of social assistance. The contributions of both employee and employer to the social securities system were not larger than 2 per cent. Today, as the proportion of the working people continues to decrease in contrast with an increasing proportion of retired people, this contribution is of 15 per cent. And in the context of the retiring baby boomers, it is expected for it to further increase in the future, generating additional instabilities and increasing federal deficits.
2. The means in which the retirement income is computed under the norms of the social securities system is inefficient and ineffective. The final result is also financially unappealing,...
Privatization of Prison Privatization Privatization of the prisons stands out as an objective by the government to change or extend its obligation in running prisons. Change in this operation calls for state policy changes where the government contracts private operators in elements relating to construction, design and security of prisons. In some states, some private companies undertake full ownership of the prisons inviting the government to evaluate the facility and offer to
Privatization of prisons has become an important consideration for the governments of all the developed countries including the United States, United Kingdom and Canada. The one major reason for this consideration is that the prisons are becoming overcrowded and therefore their management by the state is becoming difficult. Moreover, the involvement of the private sector also has the potential to decrease the economic burden that the management and running of
Privatization Appropriateness of the Presentations In evaluating the two research papers presented for this assignment, it will involve determining the appropriateness of the papers, the literature review presented in the papers, the methods employed, the quality of the data analysis, along with readability, relevance and the contribution each paper makes towards the question at hand: is privatization the best solution in Nigeria? Owolabi Bakre from the Brunel Business School in the UK argues
Privatization has been an issue if much debate during this presidential election. In particular, privatization as it relates to social security reform has been the primary focus. The purpose of this discussion is the provide arguments for privatization and against privatization. The discussion will also cite situations and examples both in America and abroad as to why or why not privatization is a good idea, and why it may or
Privatization is a process that is frequently met in countries with developed market competition. It is used by governments in order to transfer some of the state owned assets or services to private investors. The process of privatization has its advantages and its disadvantages. In my opinion the process of privatization should be viewed from extreme points-of-view. In other words, we should not view privatization as either good or bad. I
Four years later, the average federal drug sentence for African-Americans was 49% higher." (Vagins and McCurdy, 2006) Additionally stated by Vagins and McCurdy is: "In 2000 there were more African-American men in prison and jails than there were in higher education, leading scholars to conclude that our crime policies are a major contributor to the disruption of the African-American family. The effects of mandatory minimums not only contribute to
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now