The Influence Of Social Security
The Social Security Act of August 14, 1935 was signed by President Roosevelt. It is where a majority of our programs have been made, like the unemployment compensation laws. It allowed several States to make sufficient establishments for people who are aged, blind, dependent and even children who are crippled, with the need of maternal and child welfare. This act is to provide aid for the general welfare and they did so by establishing a system for public health. The Federal social insurance program, now known as “Social Security” covers virtually all jobs today.
Social Security is vital to us Americans. It has radically reduced poverty in old age, it prevents inflammation, and it protects the middle class against the ups and downs of the
market. The Social Security benefits are based of equity and adequacy. This means that, who pay more into the system, get more out of it later on. But adequacy is the more beneficial part to most of Americans. The adequacy principle overlooks years of low earnings, it replaces a higher proportion of earnings for the poor than for the rich. This is why Social Security is so positive, it is our most successful anti-poverty program.
Social Security is vital to us Americans. It has radically reduced poverty in old age, it prevents inflammation, and it protects the middle class against the ups and downs of the
market. The Social Security benefits are based of equity and adequacy. This means that, who pay more into the system, get more out of it later on. But adequacy is the more beneficial part to most of Americans. The adequacy principle overlooks years of low earnings, it replaces a higher proportion of earnings for the poor than for the rich. This is why Social Security is so positive, it is our most successful anti-poverty program.