Social Security In America

Social Security has been a very beneficial government program for elderly people, and those whom they support, when being an active member in the workforce is no longer an option for reasons such as old age, disability, or death. Destruction of the program, or worse, lack of the aid, would be catastrophic. Without it, it could leave many senior citizens that can no longer

The Social Security system is perhaps the most successful government social insurance program in the nation 's history; and began with the Social Security Act in 1935. Social Security is a needed federal system that encourages income stability to millions of people across the United States. This is accomplished by giving a stable flow of income to replenish lost wages that occur as a result of disability, retirement, or death of a family member. There are about 59 million people in the U.S. that receive Social Security. Most of them are the required 65 years of age or older. Sadly about half of the 59 million people rely solely on Social Security to pay their bills and everyday necessities.

We all can agree that in the past years there has been many events that has impacted America. One ever lasting effect was left by the Social Security Act of 1935. The Social Security programs are designed to protect individual families from income loss due to unemployment, sickness, old age, death, and to improve citizens ' welfare ("Why Social Security?"2015).

Established by the federal government in 1935, the social security system is currently one of the most costly items in the federal budget. The purpose of the system is to provide for Federal old-age benefits, and to enable social insurance and public assistance. The proposal of moving to an entirely new system would give the people living in the United States their own individual authority of controlling their own investments. If social security does not become privatized; the system itself will turn unsustainable, the retired and disabled will not fully receive their earnings; and the people of the United States will continue to have no control over their investments.

For over 80 years social security has provided Americans with money after they reach the minimum age requirement. This money has provided retirement money for millions of people across the country but is now in jeopardy. To get an understanding of the current and future situation of social security it’s important to understand what social security is, when it was created, why it was created, and also how it has performed since it was created. After getting an understanding of social security I will then talk about the current state of social security including problems with it and the different arguments that are being made about what should be done with social security. The problems and current situation of social security will also be

Social Security is a system that is prevailing in several nations for their citizens’ welfare, which was initiated in the US in 1930’s. It is interesting to see how it has transformed in the hands of some of the US presidents. Ever since it was originated, it has been on the ramp getting modified constantly in such a way that it meets the needs of the Americans.

portion of the retiree’s income. In order to provide these benefits to retirees a 6.2% tax

Social Security was introduced into law by Democratic President Franklin D. Roosevelt. Social Security was a program which would provide financial protection to our most elderly of citizens. The program over the course of time has evolved and added new branches of protection such as child, survivor, and dependent benefits. Social Security was never created to be an answer for a comprehensive retirement package for people retiring. However in our current society with plastic cards and increasing debit to income limits, many people do not save for the future. Many citizens live for today and expect the government to take care of them when they are old and cannot fend for themselves. In 2011 the first wave of baby boomers began reaching retirement age and in turn qualifies them to begin drawing from the Social Security System. The baby boom generation makes up 25 percent of the total United States population (SSA, 2014). The projected number of people from 2011 to 2030 who will become eligible to receive Old-Age benefits from the Social Security Act will increase by 65 percent (SSA, 2014). This data is crucial in terms of determining the stability of a system that relies on the paying masses to care for the elderly few. Many Presidents in the last two decades have created and formed elaborate panels of specialized individuals to tackle the problem of the long term sustainability of the Social Security System. In order to take care of our most elderly

However, it is just more than a retirement plan; it is a form of life insurance, and disability insurance for workers and their families. The reason it has become the single most important source of income is that people are saving less, and pensions are on the downfall and unreliable. However, with that being said, I still believe that Social Security is a great government program and it should not be so heavily relied on for income by Americans. It is our own responsibility to save/invest money for our retirement. Some may say it is impossible to save, but there will always be ways to save money. Social Security policies should not be amended again so that it increases the amount people receive unless they up the cap limit on how much one can contribute to the fund. This program protects the elderly from receiving income that is below the poverty level; nearly 40% of elderly would be below that level (Quadagno: 100). The policies in place for Social Security have saved many elders from being below the poverty level. In my opinion, this statistic proves that the policies within Social Security are

Social Security has helped the elderly receive income during their retirement years, and has helped those who have disabilities from accidents and other disabilities to supplement their income sources. Social Security takes a portion of income from workers paychecks each month, and pay those individuals a retirement income based on when they elect to retire and receive this income. “This income makes up of more than half the retirement income of more than 75 percent of retired Americans,” and continues to help households with their daily living expenses by injecting funds back into the economy (Osterland, 2014).

Plagued by a persistent barrage, an influx of incoming baby boomers who have sparingly parceled out a portion of their hard-earned fortunes year by year to support their preceding generation, so that their elders may continue to live free, prosperous lives as these elders had ensured for the generation before theirs, the United States Social Security program has acted as a self-financing aid to the nation’s retiring populations since its inception in 1935 as part of a plan to revitalize our nation under the New Deal- a program run by America’s incumbent workforce. Indeed, through stabbing Social Security tax increases, and the uncertainty of The Great Recession in 2008, it was finally their turn to receive the benefits they had paid into for so long; America’s largest

Enacted in 1935, the Preamble of the Social Security Act stated that it was: An act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment compensation laws (Official Social Security Website, N.D.). These are the people who have the most difficulties supporting themselves, and if we are to be a “just society”, we should help those in need.

There is much-heated debate on the issues of Social Security today. The Social Security system is the largest government program of income distribution in the United States. People are concerned that they won't see a dime of what they worked so hard to contribute into the Social Security system for so many years. Social Security provides benefits to about forty-three million Americans. Not only to retired workers, but also to their spouses and dependents of the workers who die prematurely. It also provides benefits to disabled workers and their dependents. Social Security appears to most people like a simple retirement saving's account. After all, you generally contribute through payroll

     There is much-heated debate on the issues of Social Security today. The Social Security system is the largest government program of income distribution in the United States. People are concerned that they won't see a dime of what they worked so hard to contribute into the Social Security system for so many years. Social Security provides benefits to about forty-three million Americans. Not only to retired workers, but also to their spouses and dependents of the workers who die prematurely. It also provides benefits to disabled workers and their dependents. Social Security appears to most people like a simple retirement saving’s account. After all, you generally

Another article related to this topic is “Understanding public attitudes towards Social Security” (Yang & Barret, 2006). Even though, the observation reflected a calm environment, the Social Security Administration office has been struggling in terms of its economy for many years. According to Yang and Barret’s case study, “ the Social Security system in the United States has served tens millions of Americans” and “finding of a positive relationship between age and support for Social Security also challenges much of the established knowledge, pointing to inter-generational discord over Social Security.” (Yang & Barret, 2006). Likewise, during the observation, people at the Social Security Administration office included great diversity.