Students for Saving Social Security

Students for Saving Social Security is a grassroots network on college campuses across the country. The group represents the interests of their generation by advocating for genuine Social Security reform through personal ownership.

The organization states, "It has become obvious that the controversy over the future of Social Security lacks balance: the opinions and welfare of young Americans have been relegated to the fringe of the debate. As college students, we are preparing to enter the workplace as contributors to the Social Security program. Our very first paychecks will be taxed for a system that cannot fulfill its promises to us."

"This is not merely a distant crisis concerning retirement benefits. The immediacy of the problem for our generation is pressing: Social Security reform affects us now. On Social Security reform hinge numerous issues of vital and immediate importance to us: the ability of employers to hire us as we graduate, the opportunity to save for our future, and economic growth and prosperity in the years ahead."

"Students for Saving Social Security will lead the charge to inform, organize, and mobilize today's college students to engage in the Social Security debate. Through honest, non-partisan debate we hope to represent the interests of young Americans. We want politicians to understand that an entire generation of voters can be won – or lost – on an issue with lasting implications for our future."

Keep up the good and very important movement!

Social (In)Security

The Social Security Act was signed by FDR on 8/14/35. Taxes were collected for the first time in January 1937 and the first one-time, lump-sum payments were made that same month. Regular ongoing monthly benefits started in January 1940. Under the 1935 law, what we now think of as Social Security only paid retirement benefits to the primary worker. A 1939 change in the law added survivors benefits and benefits for the retiree's spouse and children. In 1956 disability benefits were added.

Social Security Act itself was much broader than just the program which today we commonly describe as "Social Security." The original 1935 law contained the first national unemployment compensation program, aid to the states for various health and welfare programs, and the Aid to Dependent Children program.

In 1950 the ratio of individuals paying into Social Security was 16.5 to 1 recipient. In 2000 the ratio was 3.4 to 1 and the projection for 2030 is 2.1 to 1.  This trend IS NOT the definition of a program being financially sound.  Sadly the only way to keep Social Security solvent in the years to come would be to raise the tax  -- funds taken from your paycheck (6.2 percent) and from your employer (6.2 percent or 12.4 percent in total going toward Social Security.  Self employed pay the total 12.4 percent to Social Security.)  From the inception of Social Security to the year 2001, Social Security taxes have been raised 20 times!

Today Social Security is the major source of income for most of America's elderly.  More than 9 out of 10 individuals age 65 and older receive Social Security benefits.  About two-thirds of aged Social Security beneficiaries receive 50% or more of their income from Social Security and Social Security is the only source of income for approximately 22% of the elderly.  Instead of being a safety net as its original intent it has and is becoming the sole source of income for our Nation's retired.

For any politician to stand up and say the system is fine is just wrong and a lie to the American people.  The ratio trends of payers to recipients over the years and the continual tax increases indicate other wise.  And the fact of the matter is that it will only get worse.

The question is "Do we fix the system today?" or "Do we dump a system that has problems into the laps of our children?"

For any politician not to address Social Security from a standpoint of a government program in trouble is (1) dishonest, (2) out right lies, (3) playing partisan politics, and (4) incompetent.

Democrats and Republicans need to fix Social Security NOW rather than offering 15-second sound bites that mean nothing on the evening news.  It may be Social Security today but tomorrow it will be Social Insecurity.