Persuasive Essay On Social Security

Every time a baby is born in the U.S. they are given a social security number. This number will continue to be important until the day that they die. Young people often do not know the importance of Social Security except the fact that it is used often for identification purposes. In recent years there has been a lot of talk surrounding the Social Security system and the current crisis that it is facing. Of course there are many possible solutions to combat this crisis, but none without their faults. As a society we need to accept that it is up to our generation to fix this issue. Reforming Social Security will benefit everyone living in the U.S. in the long run. Restoring Social Security to its once former glory is a necessity to benefit our further generations and to create a better future for the next generation of workers. In order to accomplish this lofty goal I propose that we increase the payroll tax cap to boost Social Security’s funding and reduce benefits for the higher income earners who do not need Social Security as much as others do. The majority of Social Security’s income originates from the Social Security payroll tax. Currently, “The Social Security payroll tax applies to annual earnings up to $118,500 (Updating Social Security for the 21st Century). This means that earnings above $118,500 are not subjected to the payroll tax at all. Seeing, as the tax cap covers only about 83 percent of all total earnings in the nation there is a lot of money that is