The Social Security Program in the United States Essay

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The Social Security Program in the United States

For over 60 years, the Social Security program has been one the most successful domestic government program, providing economic protection for US citizens of all ages. The Social Security is a set of programs designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment. Such programs were originally enacted in 1935. As Americans we know what Social Security is very important for people with disabilities, people with families and for children who have lost a parent. However there is a negative part or disadvantages from the Social Security Program. This program prevents hard working people from becoming rich. If there
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This trust fund, that receives .85% of the Social Security tax, has provided with hope to a lot of citizens that are in a misery as a result of a their disabilities or other reasons. According to the one of the policies, the benefits are given to those who have enough credits and have a severe physical or mental impairment that prevents them from working for at least one year or that would result in death. Usually this people would receive earnings of $500 or more per month. More than six million workers and family members get disability benefits and the statistics also show that 3 out of 10 younger Americans will become disabled and 1 out of 6 will die before reaching the retirement age.

Other advantage of the Social Security is that other members of a family can qualify for benefits too. If someone is eligible for retirement or disability benefits, a member of this person's family might also receive benefits. For example a spouse that is at least 62 years old automatically qualify for family benefits. Such a benefit helps especially to those people who don't get a high amount of money as a retirement or disability benefit.

The federal Old Age and Survivors Insurance (OASI) is the other trust fund that is used to pay for retirement and survivor benefits. This trust receives 5.35% of the Social Security tax. An example of how the survivor benefits can help is a family of a deceased worker.

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