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1. STRAYER PAD 540 Week 9 Discussion Social Welfare Programs
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Social Welfare Programs” Please respond to the following:
“Social Security, established in 1935, is the most costly item in
the federal budget. After the income tax, it also provides the
largest source of tax revenues. The program provides senior,
survivor, and disability insurance protection to most people
who work in wage and salary jobs and to the self-employed.
Workers and their employers each pay taxes equal to 6.2
percent of covered wages. The self-employed pay 12.4 percent
of taxable self-employment earnings. Taxes are collected by the
Internal Revenue Service (IRS), and deposited in government-
administered accounts called the Old-Age and Survivors and
Disability Insurance (OASDI) Trust Funds” (Bosworth &
Burtless, 1997).
The privatization of the Social Security system is spreading
from Chile to Argentina, Spain, England, and Australia. Mexico
and Italy are the most recent to jump on board. Examine the
major pros and cons of privatizing the Social Security system in
the United States. Speculate on who would benefit and who
would lose. Provide a rationale for your response.
Complete one (1)of the following statements regarding
privatizing Social Security and provide at least two (2)

2. references to support your response.
If the U.S. privatizes the Social Security system, African-
Americans, Hispanics, and women stand to lose the most
because…
If the U.S. privatizes Social Security, the amount of your
retirement benefits will depend on whether you retire when
the market is up or down because…
Privatization can raise the rate of return workers obtain on
their retirement contributions because…
Privatization has practical political advantages in comparison
with the current Social Security retirement plan based on high
payroll taxes because…