Social Security

1. This paper must be about a 1000 words in length, which is about 3 to 5 double spaced pages.

2. This paper is due at mid-night Sunday August 8.

3. This paper should contain a minimum of 12 paragraphs. Paragraph one should be an introductory paragraph, discussing what your paper will be about.

4. Paragraphs 2- 12 should be a paragraph each about the 11 items listed below. Here are the 11 items that you need to explain about social security.

a. Discuss the backboard and history of social security.

b. What other federal programs are funded by social security?

c. How is social security funded? What is today’s total cost to the employer and employee?

d. How is Medicare? How is it funded? What is today’s total cost to the employer and employee?

e. What are the problems facing today’s social security program?

f. How much money has the federal government borrowed from the social security trust fund (and owes the trust fund) to pay for other federal programs?

g. What are some of the proposals to fix social security’s funding problems?

h. What do you think is the best way to fix social security?

i. What are the eligibility requirements to start drawing social benefits? What are the 3 different ways one can start collecting their social security benefits?

j. What are your concluding thoughts about the future of social security?

k. Using the Social security calculator found at socialsecurity.gov (Links to an external site.), assuming an inflation rate of 3%, and using your today’s salary, calculate your three options for starting to draw your future social security benefits. If you are not a full time employee, estimate that you have a salary of $35,000 today.

5. Your paper should have a minimum of five references that need to be listcixed at the end of your paper.

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