Social Security Fairness Act Essay

The Social Security Act of 1935, signed by Franklin D. Roosevelt, created a program that included social insurance programs, as well as public assistance. Both programs came about due to the depression and were created as part of the New Deal to benefit the citizens who needed assistance. While both programs were created to assist the public, each program had different eligibility requirements and accomplished different tasks.

Perhaps no group has as much at stake in the debate over Social Security reform as African Americans. Elderly African Americans are much more likely than their white counterparts to be dependent on Social Security benefits for most or all of their retirement income. Yet Social Security benefits are inadequate to provide for the retirement needs of the elderly poor, which leaves nearly 30 percent of African-American seniors in poverty.

“pay as you go” system. This changing of the original system called for younger citizens

A landmark change in providing for the elderly came in 1935 with Franklin D. Roosevelt 's Social Security Act. While this provided aid to people with disabilities and mothers with children, aid was also mainly intended for the elderly. The premise of the act was that an individual would pay into the government through the years that they worked and upon retiring that person would receive benefits. Elderly Americans relied on this system to help pay for expenses that they might incur after they reached an age where they could no

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

Roosevelt and his Economic Crisis Committee, in 1935, came up with the simple idea of providing benefits to the generation of retired workers from tax money of currently working generation. Roosevelt put this straightforward idea into the system to make it work, and it surprisingly has worked out well so far. When the bill became a law in 1935, there were many people who were affected by the Great Depression and sought financial aid. Unlike the bank money that goes in loans and still depositor have access to the money; Social Security System passes out collected money immediately into benefits (“Social Security System”). This way, the working generation will always provide enough money to the fund. Rather than providing money from government fund, idea of benefiting citizens from their own money didn’t receive

The Social Security Trust Fund is underfunded, and so is destined to run out of money by 2035 if current trends continue. Please discuss the major problems affecting the financial underpinnings of Social Security.

The Social Security Act passed was one of the programs implemented by the New Deal in 1935. The program created a structure of retirement pensions for citizens, unemployment insurance, and welfare benefits for the country’s poor and

The existence of social security has been around since the Medieval times, however primitive, this system continued to grow and eventual made its way to colonial America. Yet it wasn’t until August of 1935 when the Social Security Act was signed by Franklin D. Roosevelt, to implement social insurance during The Great Depression when poverty rates among senior citizens exceeded 50%. Originally, the Social Security Act of 1935 was named the Economic Security Act. The 1935 law only paid retirement benefits to the primary worker but a 1939 change in the law added retirees along with their spouse and children benefits. In 1956, disability benefits were then added. However, the Social Security Act itself was

During 1930s, the Great Depression caused the economic turmoil and had an impact on the unemployment, and the poverty among elderly. This created sense of insecurity over future among the citizen of the U.S. and government. There were several advocates, who passionately campaign for national pension plan such as Huey Long proposed Share our Health Plan, and Dr. Francis Townsend proposed the old age revolving plan. Although, Townsend proposal of providing $200/month to 60 years and older was a failure the popularity of Dr. Townsend plan pressurized the Roosevelt Administration to take action and deal with the issue of social insurance in America. Although the depression emphasized on the unemployment insurance and “old age” benefits, the health insurance was omitted from the priority among the Congressman and focused shifted on old-age pension. The law known as Social Security Act (SSA) was enacted on August 14th, 1935 to provide benefits such as unemployment compensation, old age pension, and services for the protection of children.

The Commissioner of Social Security is responsible for administering the OASDI program and service delivery. They are not there to collect FICA taxes. FICA taxes is performed by the Internal Revenue Service of the Department of the Treasury. The Secretary of the Treasury supervises the preparation and mailing of benefit checks or direct deposits on debit cards and banking accounts. They also provide management and investment of the trust funds. Social Security numbers is an identifiable method used for posting and maintaining the earnings and employment records of persons covered under the Social Security program. Employers are in charge of withholding FICA taxes from their employees’ paychecks. They must forward these amounts, along with an equal amount of employer tax, to the IRS on a regular schedule (Old Age, Survivors, and Disbiilty Insurance, 2016).

Social Security is now the largest government program in the world as it accounts for 24% of total US federal spending. Since 2010, its money has been depleting due to paying out more benefits than it collects in taxes. A proposed solution is switching over to a Private Pension system, which has workers managing their own retirement funds through personal investment accounts. While some countries have adopted this system, I believe it benefits us to keep the current Social Security system and not replace it with a Private Pension one.

During the early 1900s, people had to walk and travel extended distances just to communicate and interact with other people. Now in the present, we can easily contact someone and see what they are doing with a few movements of our thumbs. This is all thanks to the revolutionary invention of the phone and the evolution of our phones throughout time. Yes, the phone provides us with countless benefits but there are also some slight disadvantages to the phone such as the lack of privacy that comes from using the phone. Fortunate for us, there are ways that we can prevent this loss of privacy and keep our privacy tight and secured. Ways such as keeping your passwords at a high level of difficulty, keep track of everything on your phone, and protecting your social security number.

The Internet of things can be prodigiously subsidiary for students, edifiers, and virtually anyone in the world in an immensely colossal way. This is because of the extreme accommodation it has on individuals in a generally sizably voluminous way. However, there definitely is a security quandary that interferes with people’s daily lives in a major way. This is the trade off that individuals face when utilizing IOT.

     As I write this term paper, I will discuss the following topics, related to Social Security: