Social Security Is The Most Popular Government Program

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.

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.

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

Social Security Provides Important Retirement Benefits: According to the Social Security Administration, nine out of 10 Americans over the age of 65 receive retirement

Social security was created in response to the Great Depression. The purpose of it is to protect aged and disabled persons from illness expenses, to give children a chance to grow up healthy and secure, keep families together, and to augment the material needs of individuals and families. The Social Security Act was first passed in 1935 and later amended in 1956 to provide disability benefits. Some programs included under the Social Security Act are: retirement insurance, survivor’s insurance, disability insurance, and some public assistance and welfare services. The Social Security program is meant to provide benefits,social security numbers, and generate its own finances.

The Social Security program is based on contributions that workers pay into the system. While you are working, a portion of

Social Security is more than a retirement program because you may receive Social Security if you are disabled, a spouse or a child of a worker whom passed away, a dependent parent of someone whom passed away. Depending on the situation you may be eligible for Social Security at any age. Social Security in fact pays more benefits to children than any other government program (2015, June 1). The benefits of Social Security are retired worker, survivor benefits , disability and Medicare. Average monthly benefits for retired worker is $1,328, retired couple $2,176, disabled worker $1,165, disabled worker with a spouse and child $1,976, widow $1,274 and widow with two children $2,680. Medicare has several parts to it, hospital insurance helps pay for inpatient hospital care and certain follow ups (Part A). Part B helps pay for doctors’ services, outpatient hospital care and other medical services. Part C is Medicare advantage plans that are available in many areas, people with parts A

     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

There are many types of Social Security benefits available for people in different situations and of all ages. There are Social Security Child’s Insurance Benefits that go to children with disabled or retired parents that are also taking Social Security benefits. Disabled widower’s insurance benefits are paid to disabled widows or widowers of a deceased worker. Divorced spouses of workers that are receiving benefits are eligible for Divorced Spouse Benefits. And the Supplemental Security Income is intended for blind or disabled applicants over the age of 65 (Benefits.gov, n.d.).

The Social Security Administration (SSA) is a U.S. government office made in 1935 by President Franklin D. Roosevelt, the SSA directs the social protection programs in the United States. The organization covers an extensive variety of standardized savings administrations, for example, inability, retirement and survivors' advantages. Already working under the Department of Health and Human Services, the SSA has worked as a completely free organization since

President Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935. The main intentions of this act were to provide benefits for the elderly population that was retired and not able to work. This act helped to protect the elderly against poverty if they were not able to save for retirement during their working years. At the time of the signing, only retired people of 65 years or older were eligible for these benefits. This act also included unemployment insurance, old age assistance, aid to dependent children, and grants to states to provide various forms of medical care. Things such as disability coverage and medical benefits would come later. Today we have many issues with our social security program, largely to

Social Security is one of the many government programs put into action by President Franklin D. Roosevelt because at the time the poverty rate among senior citizens exceeded 50%. The act was put in place to help people get past unforeseen or unprepared dangers in life such as old age, disability, poverty, and many other things. Basically if you fall into one of those categories you are eligible to get money from the government to help you get by. Money to fund the program is taken out of your check along with taxes, currently 6.2% of your check goes towards Social Security. The program needed to be set in place immediately so it does not work the same way a 401k or other retirement plans work. In a regular retirement plan money is saved individually

Social security, the federal retirement system, is one of the most popular government programs in United State?s history. Today, Social Security benefits are the backbone of the nation's retirement income system. The long road to the successful development of social security began in 1935. Before 1935, very few workers received job pensions. Those workers that were covered never received benefits because they were not guaranteed.

A. Social Security is a Federal program where they take a percentage from all of the wages earned by workers in this country.

It is possible for an individual who dies or becomes totally disabled at an early age to be classified as fully insured with less than 40 quarters. To receive old age insurance benefits, covered individuals must also meet the test of retirement. To meet this test, persons under 70 cannot be earning more than an established amount through gainful employment. This limitation of earnings does not include income from sources other than gainful employment such as investments or pensions. Social security retirement benefits consist of those benefits which individuals are entitled to receive in their own behalf, called the primary insurance amount, plus supplemental benefits for eligible dependents. These benefits can be determined from a prepared table. There are also both minimum and maximum limits to the amount that individuals and their dependents can receive.