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Social Security Act - Research Paper Example

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Social Security Act

This program especially benefits those workers that have paid into the system during their entire working life.
The Social Security Act helps to provide financial assistance for retirees, the unemployed, and people who have disabilities that prevent them from working and making their own living. Other categories of people that can benefit from Social Security include families with dependent children, maternal and child welfare, and the blind.
The money for the Social Security fund comes directly from a percentage of a worker’s paycheck. Unfortunately, while those that currently receive Social Security appreciate the system, there are workers that are on edge about what will happen to them when they retire. There may be money in the system now - their money - but they fear that by time they retire there will be no money left for them. They are involuntarily contributing to a system they might not be able to benefit from when they retire. Another controversy in regard to the Social Security system was that there would be a loss of jobs, but this was given a convincing counterargument: older workers would be inspired to retire knowing that the Social Security system would take care of them financially, therefore making room for younger people to obtain jobs.
Before the Social Security Act became what it is now, it was a system that lacked the proper security that people needed after retirement. The first version of the Act did not include women and minorities for unemployment insurance and old age pensions. The only jobs that were eligible for Social Security benefits were considered “white male” occupations. Teachers, nurses, hospital employees, government employees, and agricultural labor were among those occupations that were not qualified for Social Security (Dobelstein). At the time, women were only able to get their insurance through their husbands or children. However, ...Show more

Summary

The Social Security Act was originally created in 1935, but has been revised numerous times, even though most of the original aspects of the original Act still remains. Social Security is a government-based program that provides funds for retired people. This Act first came to…
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Social Security Act essay example
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