Social Security in the 21st Century

Misconceptions about social security are widespread because predictions about the distant future based on multiples assumptions are reported as facts”, frequently distorted,and almost always considered out of context.

In addition, some organizations and individuals committed to privatizing it are driven by ideology or hope of profiting from the billions of dollars in investments fees that a privatized system could generate.

The majority of American would be worse off financially under a privatized system, all would be far less secure,and creating a new system would cost trillions of new tax dollars. Therefore, undermining faith in the existing program has been a major strategy private organizations have used to promote their agenda.This report provides background information on how social security works, explains how it is that Americans can easily afford it in the long run even as our population ages, and points out fundamental problems with proposals to privatize the program.

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