Social Security Privatization And Its Impact On Society

3816 words - 15 pages

Social Security Privatization and its Impact on Society

II. Introduction

Each day that goes by there is a politician or journalist arguing about social security, the plans for saving it, and the repercussions of said plans. These topics are constantly flowing through newspapers, internet sites, online journals, and economic journals as well as many other forms of media. The major topic of discussion is the plan put forth by the current administration to reform social security, or more specifically, privatize it. There is no correct argument or correct opinion on how the situation with social security should be handled. Unfortunately, the government has the power in their hands to do with it as they see fit. Presented in this paper are numerous articles stating the condition of social security and specific problems with the way social security stands today.

III. Summary of Article #1

Social Security and the African American Male is an article written by Eddie Davis out of Buffalo State College. It was published in the Journal of Sociology and Social Welfare, March, 2005, Volume XXXII, Number 1. In this article Davis starts with offering an explanation of what a "just" law is. A just law is one that is made by a person who has no knowledge or who will be advantageous as a result of the law, but instead be under a "vale of ignorance." The author then goes on to explain why the laws created to govern the way social security is run is not just. How the euro-referenced politicians promulgated the laws on planned structural discrimination, class exploitation, and inter-group antagonism. The exploration of this issue began with an assumed relationship between the different life expectancy of African American males and white males in the US. It does not delve into pension funds, 401ks, or other private sector retirement funds. Instead, it focuses entirely on the benefit distribution of Social Security. It is evident that an overwhelming amount of African American males die before they reach the age set forth by the government to receive Social Security disbursement, yet are still required to pay in the same amount as every other hard working American. When the Social Security act of 1935 was passed, sixty to seventy percent of African Americans were excluded from receiving benefits based on occupation alone. The occupations excluded were the ones in which women and African Americans were most likely to work, such as education, government, agriculture, domestic service and charitable nonprofit institutions. It is understandable as to why the Social Security act was built this way. President Roosevelt faced a solid block of white southern congressman who refused to support any social security legislation that included blacks. What is amazing is that no subsequent amendments to these laws have done anything to change this. According to present and past census data, the African American male is actually underwriting...

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