Solution to the Social Security Problem

There has been a lot of talk over the past few months about the Social Security system. The President is destroying/saving the system depending on who you talk to and people are trying to figure the whole situation out. The one thing that both sides of the debate agree on is that the system will run out of money down the road, about 2041 is the current estimate, and something probably needs done but what to do is where the real debate lays.

The stated reason that Social Security is going to run out of money is that there is not enough young people coming along paying the bills for the older people that are retiring. Keeping this fact in mind I think Australia has the solution for our Social Security problem. Pay people to have more kids.

In announcing the payments in May 2004, Treasurer Peter Costello told the country: "You go home and do your patriotic duty tonight."

The father of three suggested that two children per couple was not enough to combat the effects of an aging population: "You should have ... one for your husband, one for your wife, and one for your country."

Instead of having "one for your country" though we could make it "one for the Social Security system" or "one for those who can't anymore" or some such thing. Does anybody else have a better slogan? This sure sounds like a plan to me

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Any solution to a problem changes the problem. R.W. Johnson

	March '10
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March '10

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The number of children you have is kind of a Catch-22 scenario. If you just have 1 or 2, it is easier to save enough money for retirement without relying on social security. Each additional child costs more to raise, thus reducing potential retirement savings, and increases the necessity of social security. Now if we could allocate the amount of social security each child brings into the system to the parents who raised them, then it would be more worth our while to have more. As it is the parent of 1 child gets the same as the parent who had 6 even though the parent of 6 brings more into the system.

#1 Linn on 2005-03-31 06:35 (Reply)

Maybe it would work.....but the way we keep exporting all the jobs, we might just end up with a bunch of unemployed people which wouldn't help.

#2 bonnie on 2005-03-31 06:53 (Reply)

Thoughts from the Middle of Nowhere

Thursday, March 31. 2005

Solution to the Social Security Problem

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