Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Social Security - Term Paper Example

Comments (0) Cite this document
Name: Instructor: Course: Date: Social Security Social security is a federal program that encompasses social welfare and social insurance programs. It is normally referred to as the OASDI, which is, Old-Age, Survivors, and Disability Insurance (Young 12). It is mainly charged with the mandate of looking into the welfare of the aged in the society to ensure that they have a means of provision despite their age…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Social Security
Read TextPreview

Extract of sample "Social Security"

Social Security Social security is a federal program that encompasses social welfare and social insurance programs. It is normally referred to as the OASDI, which is, Old-Age, Survivors, and Disability Insurance (Young 12). It is mainly charged with the mandate of looking into the welfare of the aged in the society to ensure that they have a means of provision despite their age. It also looks into the welfare of the survivors of tragedies or calamities and individuals that suffer loss due to the occurrence of disasters. Social security also looks into the welfare of the disabled to ensure that they have equal opportunities with other citizens to improve their livelihood. Due to the nature of the program, a large sum of money is required so as to keep the Social security fund running. This funding comes from primarily what is called FICA, Federal Insurance Contributions Act tax. The taxes collected are channeled into four trust funds which form the Social Security trust fund. The four are, Federal Disability Insurance Trust Fund, Federal Supplementary Medical Insurance Trust Fund, Federal Hospital Insurance Fund and Federal Old Age and Survivors Insurance Trust Fund (Daimond 92). Social security dates back to the 1930s when the then president Frankline D. Roosevelt instituted a measure to curb the high rates of poverty amongst the old aged citizens during the Great depression by implementing a social insurance for them. It is also worthwhile to note that initially the social security locked out many women, but by 1950, the coverage of the fund expanded to cover women and the minority groups rather than certain occupational classes. Breakdown of the Program The Social security program is broken down to sub segments to increase the efficiency of the fund. Due to the dynamic progress of the fund, the coverage has moved to be more universal and this translates to more sub segments besides the Old-Age, Survivors and Disability Insurance. Under the program there exists the following under programs, Unemployment benefits where the unemployed get to receive payments form the government or other ratified bodies. Temporary Assistance for Needy Families is also covered where they get to receive payments from the state depending on the severity of their case but only for a temporary period of time. Health Insurance for the Aged and the Disabled also known as Medicare and Grants to State for Medical Assistance Programs also known as Medicaid are also under the social security fund. Medicare and Medicaid are geared towards supplementing the health sector and cater for the health of the citizens regardless of their social class. Supplemental Security Income (SSI) is also an under program that entails the provision of a pay to supplement the low income of people who are either blind, disabled or aged which is funded from the US treasury. Finally, under the Social security trust fund there is the Children’s Health Insurance Program (CHIP). This was instituted to cater for the uninsured children in families that do not qualify for the Medicaid (Daimond 78-9). It was earlier noted that the Social security fund is funded by payroll taxes. These taxes are by workers and employers as a combined contribution which forms 12.4 percent of their earnings. The percentage is a sum of the employer’s 6.2 percent and the workers 6.2 percent per annum. It is also worthwhile to note that a self-employed person will be required to pay the total sum of 12.4 percent. However, the rate is not fixed to 6.2 percent but it varies with the average wage rate every year and in special cases a payroll tax holiday is extended to the workers and the employers (Young 45). Although the workers are required to pay the taxes there are specific cases where the workers are not required to pay taxes. If a self-employed individual who has a net annual earning less than $400 is exempted as well as wages received by students who receive stipends as they work under the state work study programs. Income received for working as a minister is not taxed based on personal religious concerns. Conclusion The government is said to have borrowed a significant amount of the social security fund to pay other programs. This has been subject to great controversy amongst individuals and institutions. The state is said to have borrowed $2.5 trillion to pay other programs. Social Security program has dealt with many hurdles to arrive at its present state and the future of the fund is pegged in its transparency and integrity systems which serve to reduce fraud and abuse as well as cement the pillars on which the fund is based. Works Cited Diamond, Peter A., and Peter R. Orszag. Saving Social security a balanced approach. Washington, D.C.: Brookings Institution Press, 2004. Print. Young, Mitchell. Social security. Detroit: Greenhaven Press, 2010. Print. Read More
Cite this document
  • APA
  • MLA
(“Social Security Term Paper Example | Topics and Well Written Essays - 750 words”, n.d.)
Social Security Term Paper Example | Topics and Well Written Essays - 750 words. Retrieved from
(Social Security Term Paper Example | Topics and Well Written Essays - 750 Words)
Social Security Term Paper Example | Topics and Well Written Essays - 750 Words.
“Social Security Term Paper Example | Topics and Well Written Essays - 750 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


The Social and Cultural Contexts of Deviance

Generally, deviance is a behavior that is seen as harmful, disruptive, or criminal. However, it may come as the result of being statistically unique. This brings into question whether there can be positive deviance. For example, if a student got straight A+ grades, the Underachievers Club may view them like a deviant. As a group, they may place sanctions on them above and beyond what they would the average student. This illustrates the concept that deviance must be seen through the lens of the social or cultural context that it takes place in (Keel, 2008).
Social norms are the types of behavior that are established and maintained by society and are considered to be acceptable. Because deviance is the transgression of a norm a...
9 Pages(2250 words)Literature review

Decision Making in Health and Social Care

...DECISION-MAKING IN HEALTH AND SOCIAL CARE: ECONOMICS a) Why are market forces unsuitable for health service resource allocation? Refer in your answer to the problems of consumer sovereignty, agency, and health outcome measurement. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. This is economic sense but nevertheless this positive economic statement about the predictable behavior of the consumer does not hold true when the demand patterns for Giffen and inferior goods are factored in. For instance when income, of the individual consumer, rises his demand for inferior goods such as potatoes...
8 Pages(2000 words)Case Study

The Relationship Between Security, Risk and Health in a Large Organisation

Managers in modern organizations tend to use appropriately customized policies – in accordance with their firms’ needs and resources (employees, funds, technology) available. The current paper focuses on the examination of the various aspects of security, risk, health and safety within large organizations; Particular emphasis is paid on the fact that the demands of each one of these factors may be differentiated under the pressure of the market conditions and the organizational priorities. The case of Shell in Nigeria has been used as an example in order to show the potential co-existence and interaction of these factors within a specific organizational environment. The measures required and the role of the security ma...
9 Pages(2250 words)Coursework

Active Directory - Security, User, and Resource Management

Administrators make use of group policies to launch principles for desktop predilections and software. For many corporate information technology groups, concurrence with group policies to identify what software should be presented to each category of user, even without human intervention installing it on demand from a corporate server (Silberschatz, Galvin, & Gagine 2002. P. 838). The capability of the AD was introduced in the year 1999, its initial release was with the MS Windows 2000 Server Ed., additionally personalized to spread out functionality, security parameters and build up administration in MS Win Server 2003. The most recent better facilities and efficient edition of the AD are introduced in the Windows Server 2008...
6 Pages(1500 words)Report

John Rawls vs Robert Nozick: Social Justice

It is logical to look at political philosophy within the framework of history and ethics emerging from it. As could be observed, the question of justice, and how we perceive its nature has remained the prime concern throughout history. This will include, among other things, the existence of specific obligations towards each other and towards the state, the existence of natural rights, claims of property/liberty and equality.

In face of this, the Anglo-American political philosophy has seen famous philosophers like John Rowels, Robert Nozick and recently Amritya Sen to focus on issues and arguments concerning the above...(political Philosophy, 2005 pp1)

As political philosophy is about politics mainly, it s...

6 Pages(1500 words)Coursework

Information Security Management

Security is a group of activities that include the policies, measures, and actions which are utilized to stop unlawful access or alteration, theft, and physical damage to information or computer. Security can be supported by an assortment of techniques and tools to safeguard computer hardware, software communications networks, and data (Laudon & Laudon, 1999, p. 502). In the modern age of information technology, there are many threats happened for organizational information. We need a security model that has the ability to manage and secure our information reserves. Technical administrative safety /security measures like security plans, actions and techniques are the main practices for the organizational information security m...
10 Pages(2500 words)Research Paper

Information Security Policy of Organization

In the modern age of information technology, there are many threats created for organizational information. Organizations need a security model that has the capability to handle and secure our information reserves. Technical administrative safety /security measures like security plans, actions and procedures are the general practices for the organizational information security procedures. The attentiveness of producing actions is concerned by the organizations to an appreciably smaller level, on the other hand at the same time these are weighed up as being further efficient organizational actions than technical administrative ones. Information security encompasses organizational features, officially authorized aspects, institution...
6 Pages(1500 words)Research Paper

International Security Studies: Examination

Globalization affects international security in the sense that problems involving terrorism, the environment, religious extremism, weapons of mass destruction, and the economic crises have become more universal and widespread in character (Ivanov “Article”). As a result, these issues pose a greater threat to national and international stability and safety. More lives are now affected by threats to international security; these threats did not seem too ominous before the entry of globalization. Consequently, some extremists justify the use of mass weapons of destruction in order to guarantee their security. And as globalization continues to expand and to grow bigger as a phenomenon, threats to international security are...
7 Pages(1750 words)Assignment

Role of the Police and Private Security

...Report to the Legislator - Committee on Crime and Criminal Justice Congratulations on being appointed to the Committee on Crime and Criminal Justice. As a public servant you are holding a very responsible post that covers many areas of administration including the important role of providing security to the citizens of your constituency and to those individuals who visit it. This report will provide you with a clear picture on the role of security agencies with regard to homeland security. Many of the points mentioned here may be new or already known to you, but they are provided here in any case. It is common knowledge that apart from local and organized crime within the United States, the country is now facing new forms of threats like...
8 Pages(2000 words)Case Study

Contrast of Two Explanations of Social Disorder in Contemporary UK Society

As the process of urbanization takes off and more people start residing in major cities, the fissures start to appear within the apparent harmonious co-existence. There are several reasons why disorderly conduct on part of individuals and groups takes place. Sociologists have proposed numerous theories explaining this phenomenon.

Erving Goffman was an astute observer of society, who immersed himself in the social environment which he was studying. He carefully observed and recorded the ways in which people’s behavior and interpersonal interactions are carried out in everyday life. He notes that “people perform their social roles and, as they do so, they produce social order through their actions and the regu...
6 Pages(1500 words)Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Social Security for FREE!

Contact Us