Benefits And Benefits Of Benefits

On August 14, 1935 in Austin, Texas, President Franklin D. Roosevelt inked his signature on the Social Security Act. It was originally implemented to resolve problems with unemployment, old age insurance, and public health and welfare. The Great Depression was the catalyst for the creation of the Social Security program, and the basic structure was very similar to Germany’s social insurance programs from the 1880s. Today, social security is mostly used for retired senior citizens starting at the age of 62. At 62, American citizens can begin to collect, but will only receive 35% of their monthly benefit due, rather than the maximum amount of 50% when they reach the full retirement age of 66. (cite) In addition, social security is dispersed to about 14 million disabled people under the age of 62, who can no longer work in the labor force for various reasons. The people who qualify as disabled are just a small percentage of those collecting compared to senior citizens, and are often not mentioned when social security issues are brought up because of their minute effects on social security distribution.

Lastly, the Social Security Act was one of many reform efforts that sprung from the New Deal. This act was an attempt to provide general welfare for women and their children, those with disabilities such as blindness, older individuals, and public health, and helped financially support them while they were looking for work elsewhere. It was most common with elderly individuals, as they received what is known as “old-age pensions.” This was one of the few reforms that has stayed with us since the New Deal, and was economically successful in bringing America out of the Great

The Social Security Administration is a great government administration that provides retirement and disability benefits to a large portion of the U.S. population. It was created by Franklin Delano Roosevelt (FDR). He created many new administration during the great depression to combat poverty such as the Works Progress Administration. Unlike the Works Progress Administration, on the Social Security Administration fights poverty through planning for the future rather than the now. The Administration themselves views themselves high as well, on their website they stated that the Social Security Administration is “one of the most successful anti-poverty programs in our nation's history”. The SSA could not have come at a better time than when it did during the great depression. It was crucial to the nation's future as to whether it would fall back down to its knees right as it got back up. The SSA protected us with retirement benefits which allow and help us plan for our retirement safely ensuring that we will have money when we can no longer work. This need for a retirement plan is exemplified by FDR’s speech to the N.Y. state legislature where he states “No greater tragedy exists in modern civilization than the aged, worn-out worker who after a life of ceaseless effort and useful productivity must look forward to his declining years to a poorhouse.” This is arguably the most useful part of the SSA.

The social security act was created by President Franklin D. Roosevelt so that he could put in place provisions in order to help the elderly. The social security act a document that helps impoverished citizens, such as the elderly and physically impaired receive benefits after retirement. Citizens’ in America during the great depression where expected to work weather elderly or physically disabled. These citizens weren’t afforded the financial stability to retire so work was a necessity to acquire money. “Prior to social security, the elderly routinely faced the prospect of poverty upon retirement” (U.S SSA). This effect of the great depression led to a lot death and homes turning into singled parent homes with no income. “The widespread

Social Security Act (SSA) provided pensions, unemployment insurance, and aid to the disabled. It financed its programs through deductions from workers' paychecks, but in reality, slowed economic growth by restraining consumer purchasing power. The programs and benefits of the Social Security Act were not distributed evenly among all Americans and since many of these Social Security programs were run by state governments, the size of benefits varied widely. Overall, the WPA failed to lift the country out of its economic

     Several federal agencies today support and administer the various Social Security programs. The programs associated with Social Security include Old-Age, Survivors, and Disability Insurance (OASDI), Medicare, Unemployment Compensation, and Supplemental Security Income (SSI). For people who have worked for a living, OASDI and Medicare provide support during their older years and when they have stopped working. Unemployment Compensation provides temporary financial help during periods between jobs. SSI provides income to people who cannot work for various reasons. The OASDI

The Social Security Act of 1935 was an important milestone in United States history to protect the elderly and disabled. It was the first and largest social safety net created to aid the vulnerable. Current workers pay taxes in order to provide for those currently drawing benefits. This system works fine when things are in balance but runs into a shortfall when a larger portion of the population is drawing

The Social Security act was signed into law by President Franklin D. Roosevelt on August 14, 1935 (Traditional Sources of Economic Security, n.d.). The Social Security Act was put in place to not only help with general welfare, but also created a social insurance program designed to pay retired workers that were age 65 or older continued income after retirement (Traditional Sources of Economic Security, n.d.). The Social Security program is a program that so many people depend on not only after they retire, but also if they become disabled and are not able to work. The Social Security Act and laws that are related to it were established for the following purposes: to provide for the material needs of individuals and families, to protect aged and disabled persons against the expenses of illnesses that may use up their savings, to keep families together, and to give children the chance to grow up healthy and secure (Intro to Social Security, n.d.). All of the purposes listed allow individuals to be able to live their lives and not be a poverty level, while still having access to other benefits that will help them. Under the Social Security Act there are many different programs available to assist those that qualify for social security, which is what I will discuss next.

The money to fund Social Security comes from almost everyone who receives wage or salary (Moody, 2012). An individual pays Social Security taxes on their earnings up to a certain amount, in 2013 it was $117,000. Hence, it is a “pay as you go” system in which individuals pay into the system and upon their retirement they are able to begin collecting (Social Security, 2014). With the older population there is one problematic issue surrounding Social Security-- dependence on it. While Social Security is meant to help the aging population ensure financial security, enabling them to retire with dignity, it is not meant to be the only source of income for individuals who retire. It is important to understand this because one issue surrounding Social Security is the very idea that there are people who reach the age of retirement without saving money-- with

Many of the federal and state programs that provide income security to U.S. families have their roots in the Social Security Act (the Act) of 1935. This Act provided for unemployment insurance, old-age insurance, and means-tested welfare programs. The Great Depression was clearly a catalyst for the Social Security Act of 1935, and some of its provisions—notably the means-tested programs—were intended to offer immediate relief to families. However, the old-age insurance program—the precursor to today's Old-Age, Survivors, and Disability Insurance, or Social Security, program—was not designed specifically to deal with the economic crisis of that era. Indeed, monthly benefit payments, under the original Act, were not scheduled to begin until 1942.

The United States Social Security Administration (SSA) was founded in August 14, 1935 as an outcome of President Franklin D. Roosevelt's Second New Deal. As an attempt to prevent future destituion such as the one the nation was experiencing currently in the Great Depression, the program guaranteed an income for the unemployed and retirees 65 or older. Franklin D. Roosevelt created this in an "executive order.” The President put this into action by issuing an Executive Order. In the years following, the only changes to the program have been to expand the coverage for workers and increase benefits provided. To this day, the SSA still functions as a major dependency of Americans.

In the midst of the worst financial crisis in modern history, President Franklin Delano Roosevelt signed the Social Security Act in August of 1935 to combat high unemployment and poverty, especially among the elderly. In the process, he laid the foundation for a modern safety net. The act has been amended over the years and consists of several welfare and social insurance programs including the State Children’s Health Insurance Program (SCHIP), Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), among other medical assistance programs.

The Social Security Act (SSA) of 1935 was drafted during the Great Depression as part of President Franklin D. Roosevelt’s New Deal. The SSA was an attempt to limit what were seen as dangers in the American life, including old age, poverty, unemployment, and the burden of widows and fatherless children. The SSA was intended to provide a minimal level of sustenance to older Americans, saving them from poverty. By signing the Social Security Act, President Roosevelt became the first president to advocate federal assistance for the elderly. The SSA provided benefits to retirees and the unemployed, and a lump-sum benefit at death. Payment to current retirees are financed through payroll taxes on current workers’ wages, half directly as a payroll tax and half paid by the employer. The SSA also gave money to states to provide assistance to the elderly, health care, maternal and child welfare, and assistance for the disabled and blind. In 1965, Congress expanded the system to include

     Social Security is the federally administered insurance system. Under current federal laws, both employer and employee must pay into the system, and a certain percentage of the employee’s salary is paid up to a maximum limit. Social Security is mandatory for employees