Social Security Reform

Macroeconomics ECO252 28 Feb 2001 affectionate certificate Reform The term complaisant bail was first used in the U. S. by, Abraham Epstein, in relate with his group, the American Association for mixer trade protection. The Social security system bear of 1935 was origin ally named the Economic Security Act, but this title was changed during congressional consideration of the bill. Social Security is a family protection tenderness and a retirement syllabus that provides benefits to spouses and dependent children of wage earners who countenance or become disabled during their working lives, workers who become disabled, hold up spouses aged 60 and everywhere, and surviving spouses aged 50 and oer who be 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 affectionate and political agreement to guarantee some mini mum income and wellness benefits to everyone in out society, regardless of economic circumstances. More than 139 gazillion workers expect 6.2 percent of their earnings, up to a maximum of $80,400 in 2001, to pedigree Social Security. These workers finance the program through a payroll 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. profusion monies are invested in interest-bearing securities guaranteed by the U.S. Government. Social Security is and important source of retirement 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 specie benefits from 1937 (when the first payments were made) through 1999. The Social Security benefit practice is designed so that if you have norm earnings all thr ough your working life and retire... ! If you unavoidableness to get a large essay, order it on our website: BestEssayCheap.com

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