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Philosophy Essay

818 words - 4 pages

Future Financial problem of Social Security and Mill’s Greatest Happiness Principle
Perhaps one of the most pressing issues that confront the future of the Social Security is its financial health. The recent 2014 Social Security report indicates that both the retirement and social security trust fund of the agency threatens to become exhausted by 2033. According to the report, while the retirement program of the Social security is fully funded for the next 19 years, its surplus fund will start to deplete as the retirements of the baby boomer accelerate. At which point, the agency’s current revenue would only be enough to sustain only 77 percent of the retirement benefits; while its ...view middle of the document...

That is, the right action or choice is that which produces the optimal benefit for everyone. Social Security, in this case, is an agency in which many people rely on. Its benefits are mainly used to protect and support numerous of retirees, elderly, disabled workers and their families, as well as families whose breadwinner has died or those who are suffering from severe poverty. This accounts to over 40 million individuals who are all counting on Social Security to help them.
One possible solution for this problem is to require all employers to sponsor a retirement plan for their workers. A recent report in 2011, indicates that less than half or about 45 percent of private sector employees worked for an employer who offers a retirement plan. This leaves nearly 66 million laborers without any option to enroll in one. What the government can do is to require private employers, particularly large businesses and companies, to offer a retirement plan as it could dramatically alleviate the load being shouldered by the Social Security. While many companies would disagree with such proposal, it is important to note that such policy would yield the greater happiness of the majority. In fact, this policy not only benefits that Social Security but it alternately allows a great number of individuals to have their own retirement plans.
While some companies may question this policy, it is essential to cite Kant’s concept of Categorical Imperative. According to Kant, we should...

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