What are the disadvantages of social security?

Social Security was introduced in 1935 to make sure the country's elderly would have an income after they finished working. The same system is still in place today, with 64,384 million people receiving social security benefits as of February 2015, according to the Social Security Administration,. read more

Social Security was oversold, beginning with the name. By far the greatest disadvantage is that it’s a pay-as-you-go system. In other words, that F.I.C.A. tax in your pay check is “fueling” the benefit of some retiree, disabled person or survivor—with some help from the fast disappearing Social Security Trust Fund. read more

Advantages & Disadvantages of Social Security by Nancy Wagner ; Updated May 01, 2018 Social Security was introduced in 1935 to make sure the country’s elderly would have an income after they finished working. read more

Social Security Disability Insurance (SSDI) provides income support to those completely unable to work due to a disability. Despite the benefits of SSDI it has certain limitations that must be taken into consideration when preparing to apply for and be on the program. read more

The same system is still in place today, with 67 million people receiving social security benefits as of March, 2018, according to the Social Security Administration. The system provides income, a huge advantage to those who receive benefits, but it also has some disadvantages. read more