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Social Security. Social Security The Social Security system taxes individual
Americans so as to build a platform for their retirement. ...
Social Security. ... This year Social Security assistance accounts for over 20% of the
federal budget and will make up even more for the years to follow. ...
Social Security. Issues about the state of social security have come to light in
the past few years. ... Social security has a long history in our country. ...
social security. Social Security Social Security has been around for a long time. ...
A lot of people view the Social Security plan as an American concept. ...
Social Security. Social Security The purpose of this paper is to analyze social
security so as to show the reader what makes it beneficial to us today. . ...
Submitted by bigb5545 on December 12, 2005
Category: Social Issues
Words: 4201 | Pages: 17
Views: 173
Popularity Rank: 70,321
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Social Security is much more than a retirement program. It is universal guaranteed retirement money for everyone and is the primary source of income for most retired people in the United States. "It is a family in come protection program that reflects the commitment of the country to the economic security of workers, retirees and their families." Social Security protects workers and their families through their retirement. "Sixty percent of today's beneficiaries derive more than half of their income from Social Security. In most low income households of retirement age, Social Security represents eighty percent or more."
In addition to paying benefits to retires and their families, Social Security provides a foundation of income for workers who become disabled, and for spouses and dependent children of wage earners who die or become disabled. In fact, "one in every three beneficiaries today is not a retired worker." Women and minorities are most likely to depend on Social Security. Minorities because their employment opportunities are sometimes limited and they are more likely to work for lower wages and in jobs without retirement programs such as pensions. Women are sometimes in the same predicament, working in lower wage jobs without pensions or retirement programs. Since women on average work fewer years at lower pay, they contribute less in payroll taxes over their lifetimes than do men. In their various roles as spouses, and widows, women collect Social Security benefits for more years than men. The result is that women get more net benefits in their lifetimes than do men. "Since the Social Security system pays retirees, widows, orphans, and the disabled and their families each year out of the funds collected from current workers' payroll checks and some of the income taxes paid on benefits, it is sometimes referred to as a pay-as-you-go system."
Social Security was signed into law on August 14, 1935 by President...
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