Thesis on Social Security
Social Security was a acceptable abstraction but about forth the way it was not anticipation out to last. The Amusing Security Act was active in to law by President Franklin D. Roosevelt on August 14, 1935. It included several accoutrement for accepted abundance and created a amusing allowance affairs advised to pay retired workers age 65 or earlier a continuing assets afterwards retirement.
There two above accoutrement accompanying to the elderly, Title I- Grants to States for Old-Age Assistance, which accurate accompaniment abundance programs for the aged, and Title II-Federal Old-Age Benefits.It was Title II that was the new amusing allowance affairs we now anticipate of as Amusing Security. In the aboriginal Act allowances were to be paid alone to the primary artisan back he/she retired at age 65. Allowances were to be based on bulk tax contributions that the artisan fabricated during his/her alive life. Payment of account Amusing Security allowances began in January 1940, and were accustomed not alone for age-old retired workers but for their age-old wives or widows, accouchement beneath age 18, and actual age-old parents.The aboriginal account retirement analysis was issued on January 31, 1940 to a adult by the name of Ida May Fuller of Ludlow, Vermont, in the bulk of $22. 54.
Miss Fuller, a Legal Secretary, retired in November 1939. She started accession allowances in January 1940 at age 65 and lived to be 100 years old, dying in 1975. (http://www. ssa. gov/history/briefhistory3. html) Over the years there were abounding changes to the aboriginal Amusing Security Act (SSA). One of these changes happened in the backward 1960’s and aboriginal 1970’s.
The SSA became amenable for a new program, Supplemental Security Assets (SSI).In the aboriginal 1935 Amusing Security Act, programs were alien for beggared age-old and dark individuals and, in 1950, beggared disabled individuals were added. These three programs were accepted as the "adult categories" and were administered by Accompaniment and bounded governments with fractional Federal funding. Over the years, the Accompaniment programs became added circuitous and inconsistent, with as abounding as 1,350 authoritative agencies complex and payments capricious added than 300% from Accompaniment to State. (http://www. ssa. gov/history/briefhistory3.
html) From its bashful beginnings, Amusing Security has developed to become an capital angle of avant-garde life.One in seven Americans receives a Amusing Security benefit, and added than 90 percent of all workers are in jobs covered by Amusing Security. From 1940, back hardly added than 222,000 bodies accustomed account Amusing Security benefits, until today, back over 50 actor bodies accept such benefits, Amusing Security has developed steadily. The SSI affairs has developed as able-bodied from its birth in 1974. In 2008 it was estimated that 50,898,244 Americans accustomed $615,344,000,000 in Amusing Security and about 7,520,501 Americans accustomed $43,040,000,000 in SSI benefits. (
gov/history/briefhistory3.html">http://www. ssa. gov/history/briefhistory3. html)
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