Social Security A Federal Insurance Program - 1507 Words

Social Security Argumentation Essay Social security is a federal insurance program that provides benefits to retired people and those who are unemployed or disabled. Social security is, in other words, earned benefit with dedicated funding from payroll contributions paid by workers and their employers, known as the FICA tax. Generally, to be covered a worker must have worked for long enough; recently enough, and earned enough to have sufficient FICA credits, typically about 10 years. Benefits are based on the worker’s earnings history and are generally modest, averaging a little over $1,100 per month for all beneficiaries. There are three types of social security: retirement, disability, and survivor insurance. Social Security does not cover some state and municipal employees and those who are self employed. It also does not cover some foreign workers admitted temporarily to the United States. Most workers who are not covered by social security contribute to other retirement and disability funds. In recent yea rs, there has been a study that shows America will soon not be able to pay for social security and essentially will have to give it up; however, there are also many ways to prevent from the supply of social security from running out, but some people may have problems with them. Raising income tax, taking away benefits, and having to risk paying for retirement even though they may not receive as much as they invested. Social security is paid by a payroll tax sharedShow MoreRelatedSocial Security During The United States1518 Words   |  7 PagesSocial Security in the United States I. Introduction Social security in the United States is a federal system run by the Social Security Administration to provide monetary benefits, or welfare, to citizens who are retired, unemployed, or disabled. In 1935, President Franklin D. Roosevelt enacted the Social Security Act which limited the dangers of old age, unemployment, disability, and families with dependent children within the United States during the great depression. In order to obtainRead MoreThe History Of Medicare And The Social Security Act1686 Words   |  7 Pagescreating the Medicare and Medicaid programs. The passage of Medicare and Medicaid had a storied history before it crushed the walls that had separated the federal government and the U.S. healthcare system. Historically, the prevailing thought of many Americans up until the 1920’s and 1930’s was that medical care was largely a private transaction between a medical practitioner and a patient. This doctor-patient relationship was sacred and there w as no need for the federal government to intervene in thisRead MoreSocial Security Paper1002 Words   |  5 PagesHistory The U.S. Social Security program is designed to aid residents in need through welfare subsidies. The programs are provided by organizations on federal, state, local, and private levels; and help to provide eligible residents with food, shelter, healthcare, education and money. Aid is provided through financial aid for college education, unemployment disability insurance, food stamps, pensions for eligible low-wage workers, subsidies for housing, and health insurance programs for public employeesRead MoreThe Social Security Act Of 19351623 Words   |  7 Pages The Social Security Act of 1935 brought about several changes in the world. The Social Security Act of 1935 bill was passed on April 14, 1935 and signed into law on August 14, 1935 with President Franklin D. Roosevelt in office. The Social Security Act was established to assist the elderly, old-aged workers, individuals involved in industrial accidents, unemployment insurance, the blind, and the physically and mentally disabled. Efforts in getting the Social Security Act of 1935 passed involvedRead MoreSocial Security Act Essay686 Words   |  3 PagesThe 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. Social insurance programs were designed to provide continuing incomeRead MoreAnalysis of a Stakeholder1293 Words   |  6 PagesRobinson 5/29/16 HCA255 Orazie Slayton Social Security Administration During the Great Depression of the early 1930s a form of Social Security was created but the federal government was not involved in the support of elderly people and their families, those concerns were considered to be handled locally or by the state. According to the America’s Historical Documents (n.d.), that changed on August 15, 1935 when president Roosevelt signed the Social Security Act, this act established a system ofRead MoreWelfare And Health Care Reform1527 Words   |  7 Pages Chapter 17 of the textbook We the People: An Introduction to American Politics covers the topic of social policy. The two main issues of social policy in today’s society are welfare and health care reform. They are considered the main issues because they require the most government spending, and are the two most controversial and debated parts of social policy in America. America has always had some sort of welfare state. Before the Great Depression, a time of great economic hardship inRead MoreEssay on Social Security1184 Words   |  5 Pages Social Security nbsp;nbsp;nbsp;nbsp;nbsp;Social Security is a public program designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment. In the United States, the word social security refers to the programs established in 1935 under the Social Security Act. Societies throughout history have devised ways to support people who cannot support themselves. In 1937 the government began issuing Social Security identification cardsRead MoreFederal Old Age Insurance System1035 Words   |  5 Pages1935 a social security act as established as system to help with old age benefit, benefit for accident victims, unemployment insurance, aid for independent mothers and children, and physically handicapped. Before this bill was passed the support of the elderly was a local, state and family problem rather than federal. The suffering caused by great depression allowed numerous proposals for a national old age insurance system. President Franklin D. Roosevelt proposed to the congress for social securityRead MoreSocial Security Act And Related Laws845 Words   |  4 PagesIn January 1935, President Franklin D Roosevelt presented his Social Security Act to Congress. The draft of the Administration bill was the beginning for the legislative attention to the Social Security in 1935. Social Security was introduced to help retired workers receive retirement payments. The Social Security Act and related laws establish a number of programs that have the following basic purposes: (Social Security Administration, 2006) A. To provide for the material needs of individuals and