Social Security and Corporate Welfare Essays -- Papers Clinton Medicar

Social Security and Corporate Welfare 'Social Security—the nation's largest, costliest, and most successful domestic program has reached a critical juncture in its development. As its creators anticipated, nearly every wage earner now pays taxes into the system. In principle, all citizens may be eligible for "entitlements" at some point in their lives. Yet...senior citizens worry that their benefits will be cut; younger Americans are skeptical—if not cynical—about their own benefits upon retirement.' — W. Andrew Achenbaum This summation of the state of Social Security was written more than a twenty years ago. Looking back, it seems as though the Social Security system frequently reaches a state of crisis in which predictions of its end arise. Since it was enacted in 1935, Social Security has been amended often, most recently in 1983, when Congress imposed a tax on the benefits of high-income retirees, raised the retirement age, and revised the tax-rate schedule. Today, the future of Social Security is in the news again. The reason Social Security is of such concern is that the extremely large group of citizens born in the post-World War II period—the much-discussed baby-boom generation—is retiring. The generation that will take its place in the workforce is far smaller in proportion to the number of retirees, raising fears about the sustainability of Social Security. In the past, proposed solutions to the various problems facing Social Security aroused great debate. Each time, however, the arguments were stilled, repairs were made, and the system continued to fulfill its mandate. That uncertainty about the future has resulted in suggestions for change that range from minor adjustments to complete privatization of the ... ...6. Fisher Center for Information Technology & Management, University of California in Berkeley. June 1995 3. Mark E. Nissen. Commerce Model & the Intelligent Hub. CommerceNet CALS Working Group Presentation. November 1995 4. Michael Bloch, Yves Pigneur. The extended enterprise, a descriptive framework, some enabling technologies and case studies in the Lotus Notes environment. Ecole des HEC INFORGE, University of Lausanne, Switzerland. 1995. Jun. Report No.: TR-YP-91. 5.Don Tapscott. The digital economy. McGraw Hill, 1995 6.Brian A. Johnson, John H. Ott, Jack M. Stephenson, Paal K. Weberg. Banking on multimedia. The McKinsey Quarterly 1995. 7.Gregory Wester, Stephen Franco. The Internet Shakeout 1996. Interactive Commerce Research Bulletin. the Yankee Group, Boston, MA. December 1995 8. http://www.emarketer.com/eStats/welcome.html