Social Security: Starting Early and Retirement Planning
Social Security
(From Wikipedia)
The phrase third rail is a metaphor in politics to denote an idea or topic that is so "charged" and "untouchable" that any politician or public official who dares to broach the subject would invariably suffer politically.
The third rail in a railway is the exposed electrical conductor that carries high voltage power. Stepping on the high-voltage third rail usually results in electrocution. The use of the term in politics serves to emphasize the "shock" that results from raising the controversial idea, and the "political death" (or political suicide) that the unaware or provocative politician would encounter as a result.
1. Why do you think that modifying our social security program, along with the accompanying benefits, is considered a "third rail" topic for politicians?
2. Discuss some of the methods that might help to "reinforce" the program and make it last our lifetimes.
3. What are some counter arguments to your methods to reinforce the program?
Answer all of these questions. Number each of your answers and DO NOT repeat the question text in your answers. Always answer each of the numbered questions in a paragraph form. Avoid plagiarism.
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Chapter 18 Discussion - Starting Early: Retirement Planning
QUESTION 1
Social security is a controversial issue in the United States (U.S.). Although it has led to reduced poverty levels in the country, it continues to be a hot-button topic. The social security topic is considered a third rail topic because it elicits opposite responses from the American public. Among low-income earners, social security is viewed as a supportive mechanism. Therefore, any politician who promises to reform social security to fit their needs attracts a significant following from this group. However, this same politician is likely to face extreme opposition from middle and upper-income earners because this group view social security as a derailment to the country’s growth. Therefore, unless the politician retains a moderate view on the topic, they will undoubtedly not succeed.
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