The Benefits of Social Security - 1031 Words

Social security is any government system that provides monetary assistance to people with an inadequate or no income. The United States government program was established in 1935. Social security is important in the U.S. because it lifts 20 million people out of poverty. Social security has changed drastically in the past few years of our society. Today, 37 million people get social security benefits of more than $15 billion a month. One way of getting a social security is to gain employment. The law requires every employer to give social security counterparts for their employees, is they qualify. There are proven benefits of having a Social Security membership. It aids in protection during retirement age, which is often a time of lowered income and benefits. Social Security also helps during cases of permanent or temporary disability. In case of death of the principal member, burial assistance will be tendered for the grieving family. When loss of the principal member occurs, children aging from 18 and below will get subsidy from the government for their educational needs and sustenance. The living spouse will also receive monthly pensions. Furthermore, in cases of emergencies like hospitalization due to sickness or accidents, the policy is applicable. If you are also in dire need of additional amount because of poverty it can help too. More and more talk recently about the fact that Social Security is on the fast decline has left many people, especially those around theShow MoreRelatedBenefits And Benefits Of Social Security1546 Words   |  7 Pagespassionately defends her mother after Social Security refuses to grant her death benefit check. Yackel does not realize that Social Security fairly distributes benefits to contributing Americans. Social Security was reasonable to not granting benefits to a woman who never contributed as a wage earner. Hence it would not be fair if benefits are granted to a fraud who never paid wage taxes compared to wage earners who do. Americans who abuse Social Security benefits by committing fraud is unethical andRead MoreRetirement Benefits And Benefits Of The Social Security Program1469 Words   |  6 Pagesemployers. With the uncertainty of the future of the Social Security program in the United States and its inadequate benefits for many, a lot of people find themselves having to rely on their own savings to prepare for income beyond retirement through savings and retirement accounts such as 401(k)s and IRAs. In order to lessen the burden of finding their own source of post-retirement income, employees need to consider not only wages and other current benefits when choosing between employment opportunitiesRead MoreBenefits Of Funding For Social Security2037 Words   |  9 Pagesespecially when it comes to future financial security. With the recent recession crippling most Americans ideas of retirement, a proposal has been presented with hopes of lessening the burden to senior citizens when it comes to retirement.1 The proposition that NIFI.org advances is increasing the Social Security Income Tax on households, asking for a raise from the current 6.2% to a future 7.2%. NIFI.org contends that this tax will enable funding for Social Security to remain unhindered for the next twentyRead MoreSocial Security Benefit Program Implementation1276 Words   |  6 PagesSocial Security Benefit Program Implementation Introduction A social security benefit is a program that aims at helping the workers save money for the future and enjoy medical attention both while working and when they will have retired and are unable to work. The employees of any company or the government have the role in investing their future today so as not to suffer in the future when they will not be working (Smith Couch, 2014). This write-up will develop a proposal for the implementationRead MoreSocial Security Benefits Of The United States1825 Words   |  8 Pagesuneconomical to them (Mitchell, 2013). The various invented forms of mediation led to many problems, such as increasing prices and incomprehensible complexity, and many people blamed that the private and free market healthcare (Mitchell, 2013). Social Security benefits enactment will be a big boost to the workers welfare and saving on the taxes they pay with the elimination of the other existing inefficient schemes (Smith Couch, 2014). Obama care, endorsed in 2010, perceived to course paradigm-shiftingRead MoreHuman Resources Specialist ( Social Security And Benefits2275 Words   |  10 Pagesenrolled in Human Recourses Management at York University. Finally, graduation is around the corner. It is overwhelming to sit to write about what the future holds after graduation. The position I have chosen is Human Resources Specialist (social security and Benefits) at ICAO. I prefer to work at this organization because it creates better opportunities if a career actor decides to leave the groups at any point. Just like going to Harvard University speaks for itself, working at ICAO, makes a job seekerRead MoreSocial Security currently extends benefits to about 61.9 million people. In 1935, when it was first2100 Words   |  9 PagesSocial Security currently extends benefits to about 61.9 million people. In 1935, when it was first created, under 225,000 people received benefits. President Franklin D. Roosevelt created the program during the Great Depression. This was during a time period of economic instability and extreme poverty rates. It was created to help reduce the amount of retirees living in poverty. This program significantly helped to keep retirees off the street who lost their retirement fund during the Great DepressionRead MoreThe Economical Issu es With Social Security1700 Words   |  7 PagesUnderstanding the Economical Issues With Social Security and How to Fix Them The original intention for creating social security was to act as a safety net for retirees, but as time past, there seems to be a great deal of economic issues relating to the program. Social Security was created to help benefit retired workers, spouse and children of deceased workers, as well as workers who have become disabled before retirement. This insurance program provides retirees with a steady income once theyRead MoreSocial Security : A Federal Insurance Program1507 Words   |  7 Pages 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 areRead MoreEssay about Privatization of Social Security1318 Words   |  6 Pagesbelieve that Social Security is a doomed Government Program and that Privatization of Social Security would allow for a more secure retirement plan for all Americans. Social Security was first created to help aging Americans in their senior years so they would not end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940. Originally a retirement program, but Social Security now includes survivor benefits, disability