Social Security Reform

Macroeconomics ECO252 28 Feb 2001 affectionate certificate Reform The term favourable bail was first used in the U. S. by, Abraham Epstein, in consort with his group, the American Association for mixer security. The Social certificate elbow grease of 1935 was origin aloney named the Economic Security Act, but this title was changed during congressional consideration of the bill. Social Security is a family protection warmness and a retirement course of instruction that provides benefits to spouses and dependent children of wage earners who micturate or become disabled during their working lives, workers who become disabled, survive spouses aged 60 and everywhere, and surviving spouses aged 50 and over who are disabled. The Social Security Act also contains Medicare, which provides health insurance protection for the elderly and disabled. All the Social Security features together are part of a reasonable hearty and political agreement to guarantee some m inimum income and wellness benefits to everyone in out society, regardless of economic circumstances. More than 139 gazillion workers support 6.2 percent of their earnings, up to a maximum of $80,400 in 2001, to inventory Social Security. These workers finance the program through a payroll department 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.

overabundance monies are invested in interest-bearing securities guaranteed by the U.S. Government. Social Security is and important source of retire ment income for almost everyone; three in ! five beneficiaries 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 bills benefits from 1937 (when the first payments were made) through 1999. The Social Security benefit recipe is designed so that if you have norm earnings all through your working life and retire... If you unavoidableness to get a in effect(p) essay, order it on our website: BestEssayCheap.com

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