Social Security

Examples of Social Security in the following topics:

• Social Security Legislation

  • The population to whom social security programs are addressed demonstrates how anomalous the meaning of social security is in the United States.
  • Prior to 1935 and the passage of the Social Security Act, social security did not exist in the United States.
  • But how does social security work?
  • If the laws governing social security are not changed by 2017, social security will pay out more funds than it takes in.
  • Discuss the development of Social Security to benefit elderly Americans, and the implications for the future of Social Security if it remains the same

• The Elderly

  • Within the United States, senior citizens are at the center of several social policy issues, most prominently Social Security and Medicare.
  • Social security is a social insurance program consisting of retirement, disability, and survivors' benefits.
  • The Social Security Administration was set up in 1935 as part of President Franklin D.
  • Roosevelt's "New Deal. " Social Security is currently the largest social welfare program in the United States, constituting 37% of government expenditure and 7% of GDP.
  • In 2010, more than 54 million Americans received approximately $712 billion in Social Security benefits

• Aging and Wealth

  • Prior to the introduction of Social Security, the elderly were the poorest age group in the United States.
  • Thus, Social Security has features of both a redistribution system and a savings account.
  • In addition to Social Security, the other primary social support for the American elderly is Medicare.
  • Social Security could soon be in crisis if current trends to not change.
  • Medicare faces even more dire financial problems than Social Security.

• Social Security and Tax Reform

  • The United States was the only modern industrial country where people faced the Depression without any national system of social security.
  • The most important program of 1935, and perhaps the New Deal as a whole, was the Social Security Act, drafted by Francis Perkins.
  • It established a permanent system of universal retirement pensions (Social Security), unemployment insurance, and welfare benefits for the handicapped and needy.
  • With those taxes in there, no damn politician can ever scrap my social security program. "
  • Compared with the social security systems in western European countries, the Social Security Act of 1935 was rather conservative.

• Social Insurance

  • In the United States, Social Security, Medicare, and unemployment insurance are among the most well-known forms of social insurance.
  • Social Security in the U.S. is primarily the Old-Age, Survivors, and Disability Insurance (OASDI) federal insurance program.
  • Tax deposits are collected by the Internal Revenue Service (IRS) and are formally entrusted to the Social Security Trust Funds.
  • Social Security provides monetary benefits to retirees, their spouses and surviving dependent children, and disabled workers .
  • Social Security is one of the best-known social insurance programs in the United States.

• Age and Income

  • Prior to the introduction of Social Security in the U.S. and other programs for the needy, the elderly were the poorest age group in the U.S.
  • With the introduction of Social Security, the poverty rates of the elderly in the U.S. dropped dramatically, as illustrated in the figure below.
  • The chart below illustrates the problems with Social Security payments for retirees in the U.S.
  • Currently, more money is received from Social Security taxes than is distributed to retirees.However, that will change if Social Security is not modified by 2017.
  • While the Social Security program in the U.S. is in trouble, the situation of Social Security is not as dire as is that of Medicare, which is a healthcare program for the elderly.

• The Benefits of Socialism

  • Socialism has a number of theoretical benefits, based on the idea of social equality and justice.
  • Social security schemes also provide security in old age, while minimum wages, employment protection, and other labor rights ensure a fair wage and safety at work.
  • Social security schemes in which workers contribute to a mandatory public insurance program.
  • In theory, based on public benefits, socialism has the greatest goal of common wealth;
  • Demonstrate how the nationalization of key industries, redistribution of wealth, social security schemes and minimum wages are beneficial in socialist economies

• National Security Policy

  • National security policies, designed to protect the state, include military security as well as non-military security.
  • Political security concerns the stability of the social order, and refers to policies related to diplomacy, negotiation, and other interactions.
  • Economic security is also a part of national security.
  • Economic security today is, arguably, as important a part of national security as military security.
  • Many are concerned that if national security policies are not subject to good governance, the rule of law, or strict checks and balances, that there is a risk that "national security policy" may simply serve as a pretext for suppressing unfavorable political and social views.

• Privacy Rights and National Security

  • National security practices impact privacy rights for the well-being and domestic security of the United States.
  • Truman signed the National Security Act of 1947 on July 26, 1947.
  • The Act did not define national security.
  • The realization that national security encompasses more than just military security was present early on.
  • The concern is that where the exercise of national security laws is not subject to good governance, the rule of law, and strict checks and balances, national security may simply serve as a pretext for suppressing unfavorable political and social views.

• Accounting Methodologies: Amortized Cost, Fair Value, and Equity

  • If a business holds debt securities to maturity with the intent to sell are classified as held-to-maturity securities.
  • Held to maturity securities are reported at amortized cost less impairment.
  • actual utility at a given level of development of social productive capability;
  • Debt and equity securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities.
  • Debt and equity securities not classified as either held-to-maturity securities or trading securities are classified as available-for-sale securities.