Monday, March 7, 2011

Ethics: Social Security

We all pay roughly 1/6 of our gross income into Social Security and Medicare. (7.65% off the top with no chance to avoid it, which is matched by our employers). This goes to a variety of recipients including the unemployed, the needy, children, and the disabled. But the bulk of the money by far goes to people above a certain age both in the form of monthly payments and medical coverage. Created with the New Deal (FDR) and then modified substantially over time and by the Great Society (Johnson), these programs constitute a massive proportion of federal spending and are widely believed to be at the heart of our current and future budgetary problems in this country. However, they are also intended to serve and assist millions of people. Most everyone agrees that seriously reforming these programs would be politically impossible. Nevertheless, putting aside what can actually be done, we should first ask the question whether these programs are, broadly speaking, ethically justified.

Resources:
Social Security (Wikipedia)
Medicare (Wikipedia)

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