If the Social Security retirement system were a private retirement system, it would be declared bankrupt.Explain why this is so and why the Social Security system can continue to pay benefits despite the fact that it can be considered bankrupt.Explain why the Social Security tax rate has increased so much in recent years.What measures could be taken to reduce the Social Security payroll tax rate?

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The Answer of If the Social Security retirement system were a private retirement system, it would be declared bankrupt.Explain why this is so and why the Social Security system can continue to pay benefits despite the fact that it can be considered bankrupt.Explain why the Social Security tax rate has increased so much in recent years.What measures could be taken to reduce the Social Security payroll tax rate?

If the Social Security Retirement System Were a Private Retirement