Social Security, created in 1935 during President Franklin D. Roosevelt's administration, has helped millions of older Americans avoid poverty. But today, the system faces serious financial problems. Critics warn that the system cannot survive unless it is reformed. The leading proposal for reform would allow workers to invest part of their Social Security taxes into personal retirement accounts. Reformers insist that these accounts would avert Social Security's collapse, make workers more self-reliant, and spur economic growth. Defenders of the current system insist that Social Security does not need major restructuring. In their opinion, adjustments to the payroll tax, benefit structure, and retirement age, along with greater savings by workers, would preserve Social Security and ensure future generations a secure retirement. Read more about the key issues in this important ongoing debate in Social Security.
Author Paul Ruschmann, J.D., is a legal analyst and writer based in Canton, Michigan. He received his undergraduate degree from the University of Notre Dame and his law degree from the University of Michigan. A member of the State Bar of Michigan, he specializes in legislation, public safety, traffic and transportation, and trade regulation. He is also the author of several other titles in the Point/Counterpoint series, including Legalizing Marijuana, The War on Terror, Media Bias, Tort Reform, and Miranda Rights.