Thursday, April 28, 2011

Social Security

<b>What is Social Security?</b>

Social security is a financial safety net for Americans.   Whether or not you can get anything is highly reliant on the details of the situation.

<b>When did Social Security Begin?</b>
Social Security began in 1935.

<b>How is it funded?</b>
Tax dollars!  Like most of these Government run programs, your tax dollars are what funds the meat of this stuff.  As you cut taxes, you lose benefits - or maybe you could just tax those who are way better off . . .

<b>Who is eligible?</b>

It is used for retirement benefits, the disabled, a dependent who's guardian is on social security, a widow/widower, or the child of someone who died.

<b>More Details</b>
As you can probably expect, the social security benefits of today aren't that awesome, unless you are really in need.  Today, over 1 out of every 6 Americans uses social security benefits in some way (I know, socialism is just such a killer!)

<b>Why is controversial?</b>

In short, there isn't enough money.  Social security, like its brothers in medicaid and medicare, soaks up a TON of money.  The biggest controversy sorrounding this is actually something that a lot of people won't ever find themselves bothered with - the privatization of funding.  If a big company is forced to pay more taxes to supply for social security, we won't directly feel it, but it always trickles down.

After all, when the gas prices go up, it's because the gas companies might not make as much money from the middle east - we always feel the squeeze in one way or another.

5 comments:

  1. I don't get why GOP wants to privatize Social Security.

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  2. Why not just kill social security over all? If people have to work, they will find a way. If its another option, many will take it.

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  3. Social security will be practically useless for this new generation by the time they get old.

    ReplyDelete