Changes

===Social Security and African-Americans===

===Social Security and African-Americans===

When Social Security was first passed most blacks worked on farms or as domestics and were not covered.  Nearly all have left the farms—and the the few remaining domestics are now covered.  

When Social Security was first passed most blacks worked on farms or as domestics and were not covered.  Nearly all have left the farms—and the few remaining domestics are now covered.  

The amount of social security benefits received depends on how long one lives after retiring. African-Americans generally have lower life expectancies than other groups. When a black man reaches age 65, he is expected to live only another 13.9 years, almost 2 years (24 payments) less than a white male. The RAND Corporation concluded that, because of differences in life expectancies and marriage rates, on a life-time basis the income transfer from blacks to whites is as much as $10,000 per person.  However, blacks aree more likely to receive disability benefits.

The amount of social security benefits received depends on how long one lives after retiring. African-Americans generally have lower life expectancies than other groups. When a black man reaches age 65, he is expected to live only another 13.9 years, almost 2 years (24 payments) less than a white male. The RAND Corporation concluded that, because of differences in life expectancies and marriage rates, on a life-time basis the income transfer from blacks to whites is as much as $10,000 per person.  However, blacks aree more likely to receive disability benefits.

===Present liabilities promised to [[Baby boom]]ers===

===Present liabilities promised to [[Baby boom]]ers===

[[File:Editgrf11.jpg|thumb|241px|right|Graph: ''USA Today'']]

[[File:Editgrf11.jpg|thumb|241px|right|Graph: ''USA Today'']]

The cost of Social Security benefits that were promised to 70 million Americans of the "baby-boom" generation exceeds $53 trillion dollars ($53,000,000,000,000).<ref>http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm</ref><ref>http://www.usatoday.com/news/graphics/debtcalculator/flash.htm</ref><ref>http://fiscalsolvency.com/the_3_parts_of_our_fiscal_crisis.htm</ref> To understand the magnitude of this figure by contrast, the [[World Bank]] estimates the [[GDP]] of the planet (total economic output) for the year 2008 as $61.063 trillion.<ref>http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:USA&dl=en&hl=en&q=gdp#met=ny_gdp_mktp_cd&tdim=true  See also CIA World Fact Book [https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html]</ref> The sum total of promises made to all working age adults in the U.S population is estimated at over $106 trillion,<ref>http://www.cnbc.com/id/38979552</ref><ref>http://www.forbes.com/2009/05/14/taxes-social-security-opinions-columnists-medicare.html</ref> more than one and half times the total annualized economic activity of the planet.  An editorial in ''[[USA Today]]'' claims "Without action, outlays on benefit programs such as Medicare and Social Security, combined with interest on the [[national debt]], are projected to grow so fast that they will devour all tax revenue in as soon as 20 years. That means every government department and agency, except for those that pay benefits and service the debt, could be eliminated — and Washington would still run a deficit."<ref>[http://www.usatoday.com/news/opinion/editorials/2010-11-11-editorial11_ST_N.htm Our view on government inaction:] Gridlock's just another word for lack of leadership, ''USA Today editorial, November 11, 2010.</ref>

The cost of Social Security benefits that were promised to 70 million Americans of the "baby-boom" generation exceeds $53 trillion ($53,000,000,000,000).<ref>http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm</ref><ref>http://www.usatoday.com/news/graphics/debtcalculator/flash.htm</ref><ref>http://fiscalsolvency.com/the_3_parts_of_our_fiscal_crisis.htm</ref> To understand the magnitude of this figure by contrast, the [[World Bank]] estimates the [[GDP]] of the planet (total economic output) for the year 2008 as $61.063 trillion.<ref>http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:USA&dl=en&hl=en&q=gdp#met=ny_gdp_mktp_cd&tdim=true  See also CIA World Fact Book [https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html]</ref> The sum total of promises made to all working age adults in the U.S population is estimated at over $106 trillion,<ref>http://www.cnbc.com/id/38979552</ref><ref>http://www.forbes.com/2009/05/14/taxes-social-security-opinions-columnists-medicare.html</ref> more than one and half times the total annualized economic activity of the planet.  An editorial in ''[[USA Today]]'' claims "Without action, outlays on benefit programs such as Medicare and Social Security, combined with interest on the [[national debt]], are projected to grow so fast that they will devour all tax revenue in as soon as 20 years. That means every government department and agency, except for those that pay benefits and service the debt, could be eliminated — and Washington would still run a deficit."<ref>[http://www.usatoday.com/news/opinion/editorials/2010-11-11-editorial11_ST_N.htm Our view on government inaction:] Gridlock's just another word for lack of leadership, ''USA Today editorial, November 11, 2010.</ref>

===Reform===

===Reform===

==Spain==

==Spain==

[[Spain]] has the highest worker-pensioner ratio in the world. Four workers currently contribute 21.3% of thier income to support one Social Security recipient.<ref>http://siteresources.worldbank.org/INTPENSIONS/Resources/395443-1142535808399/2329423-1170369479400/Pensions_in_Aging_Societies_Galasso.pdf</ref><ref>http://spanishinsight.blogspot.com/2010/10/when-will-spanish-pensions-system.html</ref> These numbers are particularly alarming given Spanish [[Unemployment]] has risen to a record high of 20%<ref>http://www.google.com/publicdata?ds=z9a8a3sje0h8ii_&met=unemployment_rate&idim=eu_country:ES&dl=en&hl=en&q=spanish+unemployment</ref> after the [[global Financial Crisis of 2008]].

[[Spain]] has the highest worker-pensioner ratio in the world. Four workers currently contribute 21.3% of their income to support one Social Security recipient.<ref>http://siteresources.worldbank.org/INTPENSIONS/Resources/395443-1142535808399/2329423-1170369479400/Pensions_in_Aging_Societies_Galasso.pdf</ref><ref>http://spanishinsight.blogspot.com/2010/10/when-will-spanish-pensions-system.html</ref> These numbers are particularly alarming given Spanish [[Unemployment]] has risen to a record high of 20%<ref>http://www.google.com/publicdata?ds=z9a8a3sje0h8ii_&met=unemployment_rate&idim=eu_country:ES&dl=en&hl=en&q=spanish+unemployment</ref> after the [[global Financial Crisis of 2008]].

By 2050 the worker-pensioner ratio in Spain is projected to shrink to 1.4 workers for every recipient.<ref>http://www.un.org/esa/population/publications/worldageing19502050/</ref>

By 2050 the worker-pensioner ratio in Spain is projected to shrink to 1.4 workers for every recipient.<ref>http://www.un.org/esa/population/publications/worldageing19502050/</ref>

Social security has been called a "Ponzi Scheme" that "shifts wealth from private individuals to government."<ref>http://www.americanthinker.com/2011/03/the_politics_of_social_securit.html</ref> The Social Security tax (aka the payroll tax or the FICA tax - Federal Insurance Contribution Act) has been called a [[regressive tax]] by the [[liberals|political left]] because the effective tax rate decreases as income increases (because there is a taxable maximum).<ref>[http://www.ssa.gov/OACT/COLA/cbb.html "Contribution and Benefit Base." Social Security Online]</ref> Social Security has also been widely (and wrongly) criticized for contributing to the United States's [[National Debt]] even though the Social Security Trust Fund is separate from the Treasury's general funds and the Social Security Trust Fund has actually financed a large portion of the national debt.<ref>"The Truth About Who Really Owns All of America's Debt." Business Insider. http://www.businessinsider.com/who-owns-us-debt-2011-7#social-security-trust-fund-17</ref>

Social security has been called a "Ponzi Scheme" that "shifts wealth from private individuals to government."<ref>http://www.americanthinker.com/2011/03/the_politics_of_social_securit.html</ref> The Social Security tax (aka the payroll tax or the FICA tax - Federal Insurance Contribution Act) has been called a [[regressive tax]] by the [[liberals|political left]] because the effective tax rate decreases as income increases (because there is a taxable maximum).<ref>[http://www.ssa.gov/OACT/COLA/cbb.html "Contribution and Benefit Base." Social Security Online]</ref> Social Security has also been widely (and wrongly) criticized for contributing to the United States's [[National Debt]] even though the Social Security Trust Fund is separate from the Treasury's general funds and the Social Security Trust Fund has actually financed a large portion of the national debt.<ref>"The Truth About Who Really Owns All of America's Debt." Business Insider. http://www.businessinsider.com/who-owns-us-debt-2011-7#social-security-trust-fund-17</ref>

Most notably, the first recipient of Social Security, [[Ida May Fuller]], paid in less than $25 dollars while she received well over $20,000 in return over the course of 35 years.

Most notably, the first recipient of Social Security, [[Ida May Fuller]], paid in less than $25 while she received well over $20,000 in return over the course of 35 years.

==The future of Social Security==

==The future of Social Security==