Social Security is a federally administered social insurance program. The program was created in 1935; it was designed to mitigate the financial damage caused by the Great Depression. Social Security provides monthly cash stipends to disabled and elderly people. As of December 2013, 58 million people were receiving Social Security (Social) payments. Social Security is financially unsustainable because there is a significant difference in the number of retirees and the number of workers paying contributions into the system. This high retiree-to-worker ratio is putting a strain on Social Security's financial stability. Fixing Social Security would require an increase in the Social Security tax, stricter disability eligibility requirements and an increase in the payroll ceiling. Social Security currently receives funding from the Social Security tax; this tax is currently 6.2% for employers and workers. Social Security spends $1.3 trillion a year on benefits for the disabled and the elderly (Reischauer). To keep the Social Security deficit from skyrocketing, taxes must be raised. The current tax rate above represents $731 billion in annual revenue accrued by the Social Security Administration. A 1.4% increase in the Social Security tax would maintain Social Security funding indefinitely. This proposal was reiterated in a report by the National Academy of Social Insurance, if tax rates were increased from the 6.2% paid by both workers and the employer (for a total of 12.4%) to 7.7 % each (or 15.4% total). In other words, the deficit would be eliminated if workers and employers each paid 1.5 percent more of wages in Social Security taxes. Congress stops engaging in debilitating partisan disputes. Works Cited Miller, Mark. “It's time to relaunch.” Reuters. Thomson Reuters, March 15, 2014. Web. April 16, 2014. Reich, Robert. “What is 'Shackled CPI,' Why It's Bad for Social Security, and Why the White House Shouldn't Publicize It (VIDEO).” The Huffington Post. TheHuffingtonPost.com, April 4, 2013. Web. April 16, 2014.Reischauer, Robert D. and Charles P. Blahous, III. "Social security." Summary of the directors' report. Social Security Administration and Web. April 14, 2014. Service, Jayna Omaye Medill News. “Senate Committee Uncovers Millions in Disability Fraud.” United States today. Gannett, October 8, 2013. Web. April 16, 2014."Social Security." Benefits for people with disabilities. Np, nd Web. April 16, 2014."Social Security." Benefits in current payment status. Social Security Administration and Web. April 16. 2014.