Social Security Alternatives

Alternatives to Social Security One proposed solution to the problems of the current pay as you go plan is to impose a system that would privatize the contributions of individuals (Aaron, 1999). The plan presented would be to shrink Social Security by enough to permit part of the payroll tax to be put into individual accounts, and let individuals control the accumulation until they reached retirement age. Several different ideas for privatization have been introduced to …

…viable alternative. There are too many factors that could cause a failure in the system. So improving the current plan is the only alternative to ensure future, long-term and equal benefits to all US citizens. References Aaron, Henry J. (1999). Should the United States Privatize Social Security? Cambridge, MA: MIT Press. Ferrara, Peter. (1995). Private Alternatives to Social Security in Other Countries. Found on the World Wide Web at http://www.ncpa.org/studies/s200/s200.html