Taxing Young for Social Security Essay
The topic I decided to write about was, “Instead of taxing youthful for social security, the us government should repair food, apparel, and shelter prices to benefit the poor”. I actually happen to argue with this kind of statement. Even though the government fixing prices upon food, apparel, and shield to advantage the elderly seems like a nice thought, it will eventually cause the economy to in a tragedy with larger problems. Repairing the price of anything below the industry clearing selling price may seem to benefit consumers, but this creates a lack since the price mechanism can be not allowed to react by law of Source, which in this kind of instance might raise prices.
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If the govt were to repair prices upon food, apparel, and shield to advantage the elderly, the economy would become a mess. Fixing prices is exactly what they do in socialist countries, and it has not recently been working out well for them. Soviet Union was a controlled economic climate (socialism). It became so dodgy and unsustainable it collapsed in the late 1980’s.
China was there seeing this taking place and chose to relocate to a more market-based economy (capitalism). Those countries that are even now holding on solid to socialism, such as North Korea and Cuba, will be in an economic sorry express. Young people pay out into cultural security with hope that they can too benefit later on in life.
If you are older, it will have enough the younger generation who can pay for your social security. When George Watts. Bush was president, this individual tried to transform social secureness. He wanted each person to become responsible for saving for their own pension rather than relying on the government. The change acquired shot straight down by people in Our elected representatives because it would definitely hurt the elders.
Therefore , having youthful people spend on social protection rather than elders is just how things have been completely chosen to do. However , we may have a huge problem purchasing social security as the quantity of people taking it develops and the number of individuals putting in it gets small. We will most likely have to enhance the amount people put in and lower the quantity people sign up for. Some may possibly see this as a sort of socialism, however it is the program we handed down and it most likely is not going to go away.
In summary, whenever rates are set by the govt, a scarcity is created. Sooner or later someone or something has to pay for it. Manufacturers lose motivation to produce and the production drops.
Cost to create eventually increases, and less production is happening. Soon, creation and supply will collapse and cost to fund the financial mess is huge.
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