Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Solve Social Security! Pretend like you are elected representatives in Congress. Consider some of the proposed policy solutions from the list below. Reach a consensus
Solve Social Security! Pretend like you are elected representatives in Congress. Consider some of the proposed policy solutions from the list below.Reach a consensus by passing legislation using only TWO of these solutions to help seniors avoid (or alleviate) the Social Security crisis.
Increasing Revenue Approaches | Reducing Cost Approaches | Third Options |
Raising payroll taxes | Reducing benefits (smaller check) for wealthier retirees | Replacing Social Security/Medicare with a different program (describe) |
Make other income or wealth subject to taxation (which ones?) | Reducing benefits (smaller check) for all retirees | Do nothing. Let 23% benefits cut happen |
Raising retirement age | ||
Eliminating Social Security/Medicare with no replacement |
But there's a catch! You MUST balance the following three concerns:
- Obviously, try to prioritize policy solutions do you think will bemost effective in averting or alleviating the Social Security problem.
- Older adults are the most reliable voters. You can't afford to upset them and lose their support, or you might be kicked out of office.
- The United States is in debt. You are concerned about adding to the national debt due to out-of-control spending. Social Security already makes up 21% of the federal budget.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started