Saturday, August 3, 2019
Social Security Essay examples -- essays research papers
SOCIAL SECURITY      The purpose of Social Security is to provide for the material needs of individuals and families, to protect aged and disabled persons against the expenses of illnesses that may otherwise use up their savings; to keep families together; and to give children the chance to grow up healthy and secure.      As I write this term paper, I will discuss the following topics, related to Social Security: 1.     A brief history of Social Security. 2.     Types of Social Security benefits. 3.     How Social Security is financed. 4.     How you earn Social Security work credits. 1.     A brief history of Social Security: 06/08/34     Federal legislation to promote Economic Security was recommended in President Franklin D. Roosevelt’s message to Congress. 06/29/34     President Roosevelt created the committee on Economic Security to study the problems related to economic security and make recommendations for a program of legislation. 01/17/35     The Committee on Economic Securities’ recommendations were introduced in the 74th Congress. 04/19/35     The Social Security Act was passed in the House of Representatives by a vote of 372 to 33. 06/19/35     The Social Security Act was passed in the Senate by a vote of 77 to 6. 08/14/35     The Social Security Act became law with President Roosevelt’s signature. 08/23/35     The Senate confirmed the president’s nomination of the original members of the Social Security Board, John G. Winant, Chairman, Arthur J. Altmeyer, and Vincent M. Miles. 10/14/36     The first Social Security field office was opened in Austin, Texas. 11/09/36     The Baltimore Office for Record Keeping Operations opened in the Candler Building. 11/24/36     Applications for Social Security account numbers were distributed by the post office. 01/01/37     Workers began to acquire credits towards old-age insurance benefits. 01/37     First application for benefits f... ...efits, How Social Security is Financed, and How you earn Social Security Work Credits. The clock is ticking for the Social Security System with a gigantic baby boom generation approaching retirement age, Social Security faces a funding crisis. By about 2012 more money will be going out to Social Security recipients than will be coming in from workers payroll taxes. The system’s trust fund can cover the difference for a while, but by about 2032 the trust fund will be empty and the program will no longer be able to meet all of its obligations. Historically, politicians have had a simple, consistent position on Social Security, do nothing. However, a spirited bipartisan debate is raging in Capital Hill and across the nation, over a handful of possible changes, all of which were considered unthinkable a few years ago: 1) Cutting benefits across the board (or just for the wealthy). 2) Raising the payroll tax across the board (or just for the wealthy). 3) Raising the age at which retirees become eligible. 4) Investing the trust fund more aggressively. 5) Letting workers contribute to personal security accounts that the government would manage (or that workers would manage themselves).
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