Wednesday, May 6, 2020

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. 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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

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