ssa - THE FACTS ABOUT SOCIAL SECURITY AND YOUR FUTURE The...

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THE FACTS ABOUT SOCIAL SECURITY AND YOUR FUTURE The ongoing changes in the Social Security System will make it almost impossible for many Americans to plan wisely for their retirement. According to the Merriam-Webster dictionary, Social Security is “the principle or practice or a program of public provision (as through social Insurance or assistance) for the economic security and social welfare of the individual and his or her family; or a U.S. government program established in 1935 to include old-age and survivors insurance, contributions to state unemployment insurance, and old-age assistance.” A child growing up on a farm, provides for him/her to gain knowledge on farming techniques and certain “tricks of the trade” that others would not understand without the opportunity of living on the farm. As these children grew older they would begin to take on the role and jobs that the parents used to do and, as the years passed, they would become in charge of the farm. This family enterprise would continue and the farm would be handed down from generation to generation, and because of this no child on the farm would have to worry about finding work, provided that the farm did well. This sense of security began to change as the Industrial Revolution began.
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The Industrial Revolution created a society where “workers found themselves dependent on outside forces to provide their families with the necessities of life, forces over which they had little influence. Any misfortune that interrupted their current income could mean destitution and Social Security was a plan enacted on August 14, 1935, by President Franklin D. Roosevelt. This program provided people in a need base situation with survivor benefits, disability benefits, health-care benefits and automatic cost - of - living adjustments. To fully understand Social Security one must understand how and why it came about into our economy and society and the effects it has had on our nation. The new act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement. In order for the Social Security act to take off the ground the government needed to register employers and workers by January 1, 1937. They used the aid of the U.S. Postal service to distribute applications in
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ssa - THE FACTS ABOUT SOCIAL SECURITY AND YOUR FUTURE The...

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