The potential to eliminate poverty among retirees. Greater retirement security. Provides a death benefit to loved ones in the event of premature death. Gives workers the ability to pass down wealth directly to their children. An unprecedented burst of economic growth.
Workers deserve the best possible deal for their dollar.
Theoretically, this could be accomplished by raising taxes or cutting benefits. But Social Security faces a second crisis as well. Young workers will receive a negative rate of return from the program, less back in benefits than they pay in taxes. This low return, and other inequities, particularly disadvantages women, the poor, and minorities. Any Social Security reform must reverse this trend, raising the rate of return and providing higher retirement benefits.