HISTORY

In 1935, the CES came to president Roosevelt with their reports the economic security in America. And on January 17th he introduced the reports to both houses of congress. The bills passed through the following hearings overwhelmingly, all the bills needed was the president's signature. On August 14th, 1935 President Franklin D. Roosevelt signed the Social Security Act.

                                                        (F.D.R providing his signature)
Soon after the Social Security Board was created. It was comprised of three men hand picked by the president himself. The original social security board were: John G Winant, Chairman; Arthur J. Altmeyer, and Vincent M. Miles. The SSB's first task was to provide employers, employees, and the public with information on how earnings were to be reported, what benefits were availiable, and how they were to be provided. The SSB was in service until 1946 when it was abolished and replaced by the current Social Security Administraion.

( The original SSB)

Who Benefits??

Everyone who has a job benefits from social security. So do the disabled, and especially the elderly

COSTS?

The yearly cost to the American taxpayer is about $10,000, take a look at this chart

This chart shows the cost rates both recent and historical rates for the American taxpayer. There are many things that most be accounted for when talking about the federal budget, social security is one of them. 20% of the total federal budget is spent on social security. Thats $707 billion. Other programs are included in the following graph:

Social security has a positive impact on economic growth. Without it, many people would be a lot less motivated to get out an work. People such as the elderly may DEPEND on that social security check to live. It wouldnt have any effect on general prices in the market.

 The potential impact is the retired having an easier time managing their own life and those around them.

OPINIONS



In Support of:



Social Security, a pay-it-forward program that is self-sustaining so long as we do not allow the GOP to keep on outsourcing all of our American jobs to third-world nations, is a very well-run government program paid for the by Social Security taxes from working Americans. Each generation pays for the generation in front of it, and the system has functioned well for more than 75 years now. If we keep our manufacturing jobs base intact, the system will continue to do well for the next 75 years and beyond.
                                                                                                 -Anonymous

 

I personally agree with this one, I believe that social security is a great plan for everybody and will be in place for a very long time to come.

 

 

 

Against:

 

 Social Security is financially unsustainable and will collapse after the baby boom generation retires. Although that is debatable, polls show that most Americans lack confidence in the program's future.

                                                                                                    -Gary Boatwright

I tottally disagree with this statement