econ.odt - Kellam 1 Jennifer Kellam Miller Econ 210 Ms...

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Kellam 1 Jennifer Kellam Miller Econ 210 Ms. Miller Social Security Social Security is taxes yuu pay to be able to use when you retire, disabled, dependent, and survivor benefits. Social Security came about in 1935, supposed to help retired workers. :In 1940 over 35 million employees were paying taxes for social security but only 222,000 were receiving benefits, that's 150 employees to each retiree.” (p. 531) Demand curve is quantity of labor required by directors at different pay, and supply curve is the quantity of labor supplied by employees at different pay. Taxes are split between employee and employer 15.3 percent and each party paying 7.65 percent. The graph below explains that even though the taxes are split the employee has the most burden.
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The pros of having social security are it helps the elderly, helps the disabled, retired at full age you get
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