Social Security Reform Free Essay, Term Paper and Book Report
Social Security in the United States is a social insurance program funded through dedicated payroll taxes called FICA (Federal Insurance Contributions Act). The Social Security Act was drafted by President Roosevelt's committee on economic security, under Edwin Witte, and passed by Congress as part of the New Deal in August of 1935. Then sooner became most popular program in the American Government program. The Act is formally cited as the Social Security Act and became the Old Age Pension Act as we known now.
Benefits of the Social Security
The Social Security provided benefits to retirees and the unemployed. Payments to current retirees were financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer. Social Security provides more than half of the total income for almost sixty percent of beneficiaries. It is an important component of financial security in United States for million of retirees, especially for future generation of the nation¡¯s elderly poor. Rich and poor still had a big distance in the United States so......
Word Count: 650
Page Count: 2.6 (250 words a page / double spaced)
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