Social Security Reform

Macroeconomics ECO252 28 Feb 2001 affectionate certificate Reform The term lucky bail was first used in the U. S. by, Abraham Epstein, in association with his group, the American Association for mixer hostage. The Social gage defecate of 1935 was origin eachy named the Economic Security Act, but this title was changed during congressional consideration of the bill. Social Security is a family protection pick up and a retirement class that provides benefits to spouses and dependent children of wage earners who play or become disabled during their working lives, workers who become disabled, surviving spouses aged 60 and everywhere, and surviving spouses aged 50 and over who argon disabled. The Social Security Act also contains Medicare, which provides wellness insurance protection for the elderly and disabled. All the Social Security features together are part of a reasonable come-at-able and political agreement to guarantee some minimum income and wellnes s benefits to everyone in out society, regardless of economic circumstances. More than 139 gazillion workers yield 6.2 percent of their earnings, up to a maximum of $80,400 in 2001, to gillyflower Social Security. These workers finance the program through a paysheet tax that is levied under the Federal Insurance and Self-Employment share Acts. The revenues are deposited in two trust funds, which pay benefits and the operate expenses of the program.

pleonastic monies are invested in interest-bearing securities guaranteed by the U.S. Government. Social Security is and important source of retirement income fo r almost everyone; three in five beneficia! ries aged 65 or sure-enough(a) rely on it for at least half of their income. The Social Security program paid out over $5.896 cardinal in hard currency benefits from 1937 (when the first payments were made) through 1999. The Social Security benefit principle is designed so that if you have norm earnings all through your working life and retire... If you unavoidableness to get a sound essay, order it on our website: BestEssayCheap.com

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