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Encyclopedia > Social Security (United States)

Social Security, in the United States, currently refers to the federal Old-Age, Survivors, and Disability Insurance (OASDI) program.


The original Social Security Act[1] and the current version of the Act, as amended[2] encompass several social welfare or social insurance programs. The larger and better known initiatives of the program are:

Social Security in the United States is a social insurance program funded through dedicated payroll taxes called Federal Insurance Contributions Act (FICA). Tax deposits are formally entrusted to[3] Federal Old-Age and Survivors Insurance Trust Fund, or Federal Disability Insurance Trust Fund, Federal Hospital Insurance Trust Fund or the Federal Supplementary Medical Insurance Trust Fund. The main part of the program is sometimes abbreviated OASDI (Old Age, Survivors, and Disability Insurance) or RSDI (Retirement, Survivors, and Disability Insurance). When initially signed into law by President Franklin Roosevelt in 1935, the term Social Security covered unemployment insurance as well. The term, in everyday speech, is used only to refer to the benefits for retirement, disability, survivorship, and death, which are the four main benefits provided by traditional private-sector pension plans. In 2004 the U.S. Social Security system paid out almost $500 billion in benefits.[4] By dollars paid, the U.S. Social Security program is the largest government program in the world and the single greatest expense in the federal budget, with 20.9% for social security and 20.4% for Medicare [5] The Social Security Administration is headquartered in Woodlawn, Maryland just to the west of Baltimore. Unemployment benefits are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. ... Temporary Assistance for Needy Families (TANF) grew out of the Aid to Dependent Families and Children program of providing cash assistance to indigent American families. ... President Johnson signing the Medicare amendment. ... Medicaid is the US health insurance program for individuals and families with low incomes and resources. ... The State Children’s Health Insurance Program (SCHIP) is a national program in the United States designed for families who earn too much money to qualify for Medicaid, yet cannot afford to buy private insurance. ... Supplemental Security Income is a monthly stipend provided to some citizens by the United States federal government. ... Social security primarily refers to social welfare service concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment and others. ... Payroll tax generally refers to two kinds of taxes: Taxes which employers are required to withhold from employees pay, also known as withholding, Pay-As-You-Earn (PAYE) or Pay-As-You-Go (PAYG) tax; or taxes directly related to employing a worker paid from the employers own funds... Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        The Federal Insurance Contributions Act (FICA) tax, a kind of payroll tax, is a United States employment tax imposed in an equal amount on employees and employers to fund federal programs for retirees, the disabled... Franklin Delano Roosevelt (January 30, 1882–April 12, 1945), often referred to as FDR, was the 32nd (1933–1945) President of the United States. ... Unemployment benefits are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. ... Woodlawn is an unincorporated community and a census-designated place located in Baltimore County, Maryland. ... Official language(s) None (English, de facto) Capital Annapolis Largest city Baltimore Largest metro area Baltimore-Washington Metropolitan Area Area  Ranked 42nd  - Total 12,407 sq mi (32,133 km²)  - Width 101 miles (145 km)  - Length 249 miles (400 km)  - % water 21  - Latitude 37° 53′ N to 39° 43′ N... Baltimore redirects here. ...


Largely because of solvency questions ranging from immediate crisis to large projected future shortfalls, reform of the Social Security system has been a major political issue for more than three decades during the presidencies of Gerald Ford, Jimmy Carter, Ronald Reagan, George H. W. Bush, Bill Clinton, and George W. Bush. (See Social Security debate (United States).) For other persons named Gerald Ford, see Gerald Ford (disambiguation). ... For other persons named Jimmy Carter, see Jimmy Carter (disambiguation). ... Reagan redirects here. ... George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States, serving from 1989 to 1993. ... William Jefferson Bill Clinton (born William Jefferson Blythe III[1] on August 19, 1946) was the 42nd President of the United States, serving from 1993 to 2001. ... George Walker Bush (born July 6, 1946) is the forty-third and current President of the United States of America, originally inaugurated on January 20, 2001. ... This article concerns proposals to change the Social Security system in the United States. ...

Contents

History

A limited form of the Social Security program began as a measure to implement "social insurance" during the Great Depression of the 1930s, when poverty rates among senior citizens exceeded 50%.[6] Social security primarily refers to social welfare service concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment and others. ... For other uses, see The Great Depression (disambiguation). ... A boy from Jakarta, Indonesia shows his find. ... Old age consists of ages nearing the average lifespan of human beings, and thus the end of the human life cycle. ...


Creation: The Social Security Act

President Roosevelt signs Social Security Act, at approximately 3:30 pm EST on 14 August 1935[7]. Standing with Roosevelt are Rep. Robert Doughton (D-NC); unknown person in shadow; Sen. Robert Wagner (D-NY); Rep. John Dingell (D-MI); unknown man in bowtie; the Secretary of Labor, Frances Perkins; Sen. Pat Harrison (D-MS); and Rep. David Lewis (D-MD).

The Social Security Act was drafted by President Roosevelt's committee on economic security, under Edwin Witte, and passed by Congress as part of the New Deal. The act was an attempt to limit what were seen as dangers in the modern American life, including old age poverty, unemployment, and the burdens of widows and fatherless children.By passing this act, President Roosevelt became the first president to advocate the protection of the elderly.[8] President Franklin D. Roosevelt signing Social Security Act, August 14, 1935 Source http://www. ... President Franklin D. Roosevelt signing Social Security Act, August 14, 1935 Source http://www. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... 1935 (MCMXXXV) was a common year starting on Tuesday (link will display full calendar). ... Type Bicameral Speaker of the House of Representatives House Majority Leader Nancy Pelosi, (D) since January 4, 2007 Steny Hoyer, (D) since January 4, 2007 House Minority Leader John Boehner, (R) since January 4, 2007 Members 435 plus 4 Delegates and 1 Resident Commissioner Political groups Democratic Party Republican Party... Robert Lee (Bob) Doughton (1863-1954) was a member of the United States House of Representatives from North Carolina for 42 consecutive years (1911-1953). ... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  Politics Portal      Further information: Politics of the United States#Organization of American political parties The Democratic... Official language(s) English Demonym North Carolinian Capital Raleigh Largest city Charlotte Largest metro area Charlotte metro area Area  Ranked 28th in the US  - Total 53,865 sq mi (139,509 km²)  - Width 150 miles (340 km)  - Length 560[1] miles (900 km)  - % water 9. ... Type Upper House President of the Senate Richard B. Cheney, R since January 20, 2001 President pro tempore Robert C. Byrd, D since January 4, 2007 Members 100 Political groups Democratic Party Republican Party Last elections November 7, 2006 Meeting place Senate Chamber United States Capitol Washington, DC United States... Portrait of Robert F. Wagner in the U.S. Senate Reception Room Robert Ferdinand Wagner (8 June 1877–4 May 1953) was a Democratic United States Senator from New York from 1927 until 1949. ... This article is about the state. ... John David Dingell, Sr. ... This article is about the U.S. State. ... Seal of the United States Department of Labor Secretary of Labor redirects here. ... Frances Coralie Perkins (born Fanny Coralie Perkins, lived April 10, 1882 – May 14, 1965) was the U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the US Cabinet. ... Bryon Patton Pat Harrison (August 29, 1881 - June 22, 1941) was a Mississippi politician who served as a Democrat in the United States House of Representatives from 1911 to 1919 and in the United States Senate from 1919 until his death. ... This article is about the U.S. state. ... For other persons named David Lewis, see David Lewis (disambiguation). ... Official language(s) None (English, de facto) Capital Annapolis Largest city Baltimore Largest metro area Baltimore-Washington Metropolitan Area Area  Ranked 42nd  - Total 12,407 sq mi (32,133 km²)  - Width 101 miles (145 km)  - Length 249 miles (400 km)  - % water 21  - Latitude 37° 53′ N to 39° 43′ N... Edwin E. Witte (January 4, 1887 - May 20, 1960) is sometimes called the father of social security, because he developed the original plan for social security as the executive director of the Presidents Committee on Economic Security in 1934, under United States President Franklin D. Roosevelt. ... Congress in Joint Session. ... This article is about the policy program of US President Franklin D Roosevelt. ...


Provisions of the Act

The Act is formally cited as the Social Security Act, ch. 531, 49 Stat. 620 at 15:40 on (14 August 1935), now codified as 42 U.S.C. ch.7. The Act is also known as the Old Age Pension Act. The Act provided benefits to retirees and the unemployed, and a lump-sum benefit at death. Payments to current retirees were (and continue to be) financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer. The act also allocated money to states to provide assistance to aged individuals (Title I), for unemployment insurance (Titles III), Aid to Families with Dependent Children (Title IV), Maternal and Child Welfare (Title V), public health services (Title VI), and the blind (Title X).[9] The United States Statutes at Large, commonly referred to as the Statutes at Large, is the official source for the laws and resolutions passed by Congress. ... is the 226th day of the year (227th in leap years) in the Gregorian calendar. ... 1935 (MCMXXXV) was a common year starting on Tuesday (link will display full calendar). ... Title 42 of the United States Code outlines the role of Public Health and Social Welfare in the United States Code. ... Lump sum is a one-time payment of money, as opposed to a series of payments. ... Aid to Families with Dependent Children (AFDC) was the name of a federal assistance program in effect from August 14, 1935 to June 30, 1997, which was administered by the United States Department of Health and Human Services. ...


Controversy

Social Security was controversial when originally proposed, with one point of opposition being that it would cause a loss of jobs. However, proponents argued that there was in fact an advantage: it would encourage older workers to retire, thereby creating opportunities for younger people to find jobs, which would lower the unemployment rate. Historian Edward Berkowitz subsequently contended that the Act was a cause of the "Roosevelt Recession" in 1937 and 1938. However, the program has gone on to be one of the most popular government programs in American history. The Recession of 1937 was a sharp economic downturn in the United States in 1937-38. ...


Most women and minorities were excluded from the benefits of unemployment insurance and old age pensions. Employment definitions reflected typical white male categories and patterns.[10] Job categories that were not covered by the act included workers in agricultural labor, domestic service, government employees, and many teachers, nurses, hospital employees, librarians, and social workers.[11] The act also denied coverage to individuals who worked intermittently.[12] These jobs were dominated by women and minorities. For example, women made up 90% of domestic labor in 1940, and notably two-thirds of all employed black women were in domestic service.[13] Exclusions exempted nearly half the working population.[14] Nearly two-thirds of all African Americans in the labor force, 70 to 80% in some areas in the South, and just over half of all women employed were not covered by Social Security.[15][16] At the time, the NAACP protested the Social Security Act, describing it as “a sieve with holes just big enough for the majority of Negroes to fall through.”[17] Unemployment benefits are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. ... The examples and perspective in this article or section may not represent a worldwide view. ... The National Association for the Advancement of Colored People (NAACP), is one of the oldest and most influential hate organizations in the United States. ...


Some have suggested that this discrimination resulted from the powerful position of Southern Democrats on two of the committees pivotal for the Act’s creation, the Senate Finance Committee and the House Ways and Means Committee. Southern congressmen supported Social Security as a means to bring needed relief to areas in the South that were especially hurt by the Great Depression but wished to avoid legislation which might interfere with the racial status quo in the South. The solution to this dilemma was to pass a bill that both included exclusions and granted authority to the states rather than the national government (such as the states' power in Aid to Dependent Children). Others have argued that exclusions of job categories such as agriculture were frequently left out of new social security systems worldwide because of the administrative difficulties in covering these workers.[18] Southern Democrats are members of the U.S. Democratic Party who reside in the U.S. South. ... The U.S. Senate Committee on Finance (or, less formally, Senate Finance Committee) is a standing committee of the United States Senate. ... The Committee on Ways and Means is a committee of the United States House of Representatives. ... For other uses, see The Great Depression (disambiguation). ...


Social Security reinforced traditional views of family life.[19] Women generally only qualified for insurance through their husbands or their children.[20] Mothers’ pensions (Title IV) based entitlements on the idea that mothers would be unemployed.[21]


The inherent discrimination in the system can also be seen with regard to Aid to Dependent Children. Since this money was allocated to the states to distribute, some localities assessed black families as needing less money than white families. These low grant levels made it impossible for African American mothers not work: one requirement of the program.[22] Some states also had prohibitions against illegitimacy, an exclusion which affected African American women more than white women.[23] One study determined that 14.4% of eligible white individuals received funding, but only 1.5% of eligible black individuals received these benefits.[24] Aid to Families with Dependent Children is a welfare program administered by the United States Department of Health and Human Services. ...


Debates on the constitutionality of the Act

In the 1930s, the Supreme Court struck down many pieces of Roosevelt's New Deal legislation, including the Railroad Retirement Act. In May, the Court threw out a centerpiece of the New Deal, the National Industrial Recovery Act, the Agricultural Adjustment Act, and New York State's minimum-wage law. President Roosevelt responded with an attempt to pack the court via the Judiciary Reorganization Bill of 1937. On 5 February 1937, he sent a special message to Congress proposing legislation granting the President new powers to add additional judges to all federal courts whenever there were sitting judges age 70 or older who refused to retire.[25] The practical effect of this proposal was that the President would get to appoint six new Justices to the Supreme Court (and 44 judges to lower federal courts), thus instantly tipping the political balance on the Court dramatically in his favor. The debate on this proposal was heated and widespread, and lasted over six months. Beginning with a set of decisions in March, April, and May, 1937 (including the Social Security Act cases), the Court would sustain a series of New Deal legislation. For specific national Supreme Courts, see Category:National supreme courts. ... The Railroad Retirement Board (or RRB) was an agency of the United States government created in the 1930s which established a retirement benefit program for the countrys railroad workers. ... The National Industrial Recovery Act (NIRA) or National Recovery Act (NRA) of June 16, 1933, was part of President Franklin Delano Roosevelts New Deal. ... The Agricultural Adjustment Act (or AAA) (Pub. ... A minimum wage is the lowest hourly, daily or monthly wage that employers may legally pay to employees or workers. ... The Judiciary Reorganization Bill of 1937, frequently called the Court-packing Bill, was a law proposed by United States President Franklin Roosevelt. ... is the 36th day of the year in the Gregorian calendar. ... Year 1937 (MCMXXXVII) was a common year starting on Friday (link will display the full calendar) of the Gregorian calendar. ...


Two Supreme Court rulings affirmed the constitutionality of the Social Security Act. The Supreme Court Building, Washington, D.C. The Supreme Court Building, Washington, D.C., (large image) The Supreme Court of the United States, located in Washington, D.C., is the highest court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States...

  • Steward Machine Company v. Davis, 301 U.S, 548[26] (1937) held, in a 5–4 decision, that, given the exigencies of the Great Depression, "[It] is too late today for the argument to be heard with tolerance that in a crisis so extreme the use of the moneys of the nation to relieve the unemployed and their dependents is a use for any purpose narrower than the promotion of the general welfare". The arguments opposed to the Social Security Act (articulated by justices Butler, McReynolds, and Sutherland in their opinions) were that the social security act went beyond the powers that were granted to the federal government in the Constitution. They argued that, by imposing a tax on employers that could be avoided only by contributing to a state unemployment-compensation fund, the federal government was essentially forcing each state to establish an unemployment-compensation fund that would meet its criteria, and that the federal government had no power to enact such a program.
  • Helvering v. Davis, 301 U.S. 619 (1937), decided on the same day as Steward, upheld the program because "The proceeds of both [employee and employer] taxes are to be paid into the Treasury like internal-revenue taxes generally, and are not earmarked in any way". That is, the Social Security Tax was constitutional as a mere exercise of Congress's general taxation powers.
Ida May Fuller, the first recipient
Ida May Fuller, the first recipient

Steward Machine Company v. ... For other uses, see The Great Depression (disambiguation). ... The common good is a term that can refer to several different concepts. ... Pierce Butler (March 17, 1866 – November 16, 1939) was an American jurist who served as an Associate Justice of the United States Supreme Court from 1923 until his death in 1939. ... Justice McReynolds, c. ... George Sutherland (March 25, 1862 – July 18, 1942) was an English-born U.S. jurist and political figure. ... Unemployment benefits are payments made by governments to unemployed people. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ...

Implementation

Payroll taxes were first collected in 1937, also the year in which the first benefits were paid, namely the lump-sum death benefit paid to 53,236 beneficiaries.


The first monthly payment was issued on 31 January 1940 to Ida May Fuller of Brattleboro, Vermont. is the 31st day of the year in the Gregorian calendar. ... Year 1940 (MCMXL) was a leap year starting on Monday (link will display the full 1940 calendar) of the Gregorian calendar. ... For the co-founder of the Sigma Kappa sorority, see Ida Fuller. ... Brattleboro, Vermont Downtown Brattleboro, as seen looking Westerly from Wantastiquet Mountain. ... This article is about the U.S. state. ...


Expansion and evolution

Further information: List of Social Security legislation (United States)

The provisions of Social Security have been changing since the 1930s, shifting in response to economic worries as well as concerns over changing gender roles and the position of minorities. Officials have responded more to the concerns of women than those of minority groups.[27] Social Security gradually moved toward universal coverage. By 1950, debates moved away from which occupational groups should be included to how to provide more adequate coverage.[28] Changes in Social Security have reflected a balance between promoting equality and efforts to provide adequate protection.[29] 1935 - original Social Security Act [1] 1939 - Social Security amendments 1950 - Social Security Amendments PL 81-734 1952 - Social Security Amendments PL 82-590 1954 - Social Security Amendments PL 83-761 1956 - Social Security Amendments PL 84-880 1958 - Welfare Pensions Plans Disclosure Act PL 85-836 1958 - Social Security...


In 1940, benefits paid totaled $35 million. These rose to $961 million in 1950, $11.2 billion in 1960, $31.9 billion in 1970, $120.5 billion in 1980, and $247.8 billion in 1990 (all figures in nominal dollars, not adjusted for inflation). In 2004, $492 billion of benefits were paid to 47.5 million beneficiaries.


1939 Amendments

Economic concerns
One reason for the proposed changes in 1939 was a growing concern over the impact that the reserves created by the 1935 act were having on the economy. The Recession of 1937 was blamed on the government, tied to the abrupt decrease in government spending and the $2 billion that had been collected in Social Security taxes.[30] Benefits became available in 1940 instead of 1942 and changes to the benefit formula increased the amount of benefits available to all recipients in the early years of Social Security.[31] These two policies combined to shrink the size of the reserves. The original Act had conceived of the program as paying benefits out of a large reserve. This Act shifted the conception of Social Security into the pay-as-you-go system.[32] The Recession of 1937 was a sharp economic downturn in the United States in 1937-38. ...


Creation of the Social Security Trust Fund
The amendments established a trust fund for any surplus funds. The managing trustee of this fund is the Secretary of the Treasury. The money could be invested in both non-marketable and marketable securities.[33] The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ... The United States Secretary of the Treasury is the finance minister of the Federal Government of the United States. ... Securities are tradeable interests representing financial value. ...


The move toward family protection
Calls for reform of Social Security emerged within a few years of the 1935 Act. Even as early as 1936, some believed that women were not getting enough support. Worried that a lack of assistance might push women back into the work force, these individuals wanted Social Security changes that would prevent this. In an effort to protect the family, therefore, some called for reform which tied women's aid more concretely to their dependency on their husbands.[34] Others expressed apprehension about the complicated administrative practices of Social Security.[35] Concerns about the size of the reserve fund of the retirement program, emphasized by a recession in 1937 led to further calls for change.[36]


These amendments, however, avoided the question of the large numbers of workers in excluded categories.[37] Instead, the amendments of 1939 made family protection a part of Social Security. This included increased federal funding for the Aid to Dependent Children and raised the maximum age of children eligible to receive money under the Aid to Dependent Children to 18. The amendment added wives, elderly widows, and dependent survivors of covered male workers to those who could receive old age pensions. These individuals had previously only been granted lump sum payments upon death or coverage through the Aid to Dependent Children program. If a married wage-earning woman’s own benefit was worth less than 50% of her husband’s benefit, she was treated as a wife, not a worker.[38] If a woman who was covered by Social Security died, however, her dependents were ineligible for her benefits.[39] Since support for widows was dependent on the husband being a covered worker, African American widows were severely underrepresented and unaided by these changes.[40] Aid to Families with Dependent Children is a welfare program administered by the United States Department of Health and Human Services. ... The examples and perspective in this article or section may not represent a worldwide view. ...


In order to assure fiscal conservatives who worried about the costs of adding family protection policies, the benefits for single workers were decreased and lump-sum death payments were abolished.[41]


FICA

A poster for the expansion of the Social Security Act

Social Security payroll taxes are collected under authority of the Federal Insurance Contributions Act (FICA). The payroll taxes are sometimes even called "FICA taxes." Image File history File links SocialSecurityposter2. ... Image File history File links SocialSecurityposter2. ... Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        The Federal Insurance Contributions Act (FICA) tax, a kind of payroll tax, is a United States employment tax imposed in an equal amount on employees and employers to fund federal programs for retirees, the disabled...


In the original 1935 law the benefit provisions were in Title II of the Act (which is why Social Security is sometimes referred to as the "Title II" program.) The taxing provisions were in a separate title, Title VIII. There is a deep reason for this, having to do with the constitutionality of the law (see discussion of the Constitutionality of the 1935 Act).


As part of the 1939 Amendments, the Title VIII taxing provisions were taken out of the Social Security Act and placed in the Internal Revenue Code. Since it wouldn't make any sense to call this new section of the Internal Revenue Code "Title VIII," it was renamed the "Federal Insurance Contributions Act."


The payroll taxes collected for Social Security are of course taxes, but they can also be described as contributions to the social insurance system that is Social Security. Hence the name "Federal Insurance Contributions Act." FICA refers to the tax provisions of the Social Security Act, as they appear in the Internal Revenue Code.


Amendments of the 1950s

After years of debates about the inclusion of domestic labor, household employees working at least two days a week for the same person were added in 1950, along with nonprofit workers and the self-employed. Hotel workers, laundry workers, all agricultural workers, and state and local government employees were added in 1954.[42]


In 1956, the tax rate was raised to 4.0% (2.0% for the employer, 2.0% for the employee) and disability benefits were added. Also in 1956, women were allowed to retire at 62 with benefits reduced by 25%. Widows of covered workers were allowed to retire at 62 without the reduction in benefits.[43]


Amendments of the 1960s

In 1961, retirement at age 62 was extended to men, and the tax rate was increased to 6.0%.


In 1962, the changing role of the female worker was acknowledged when benefits of covered women could be collected by dependent husbands, widowers, and children. These individuals, however, had to be able to prove their dependency.[44]


Medicare was added in 1965 by the Social Security Act of 1965, part of President Lyndon B. Johnson's "Great Society" program. Social Security was changed to withdraw funds from the independent "Trust Fund" and put it into the General Fund for additional congressional revenue. President Johnson signing the Medicare amendment. ... The Social Security Act of 1965 established Medicare and Medicaid. ... LBJ redirects here. ... The Great Society was also a 1960s band featuring Grace Slick, and a 1914 book by English social theorist Graham Wallas. ...


In 1965, the age at which widows could begin collecting benefits was reduced to 60. Widowers were not included in this change. When divorce, rather than death, became the major cause of marriages ending, divorcées were added to the list of recipients. Divorcées over the age of 65 who had been married for at least 20 years, remained unmarried, and could demonstrate dependency on their ex-husbands received benefits.[45] Divorce or dissolution of marriage is the ending of a marriage before the death of either spouse. ...


The government adopted a unified budget in the Johnson administration in 1968. This change resulted in a single measure of the fiscal status of the government, based on the sum of all government activity.[46] The surplus in Social Security trust funds offsets the total debt, making it appear much smaller than it otherwise would. The process of creating the budget for the United States Government is known as the budget process. ... For other uses, see Debt (disambiguation). ...


Amendments of the 1970s

1972 Amendments
In June 1972, both houses of the United States Congress approved by overwhelming majorities 20% increases in benefits for 27.8 million Americans. The average payment per month rose from $133 to $166. The bill also set up a cost-of-living adjustment (COLA) to take effect in 1975. This adjustment would be made on a yearly basis if the Consumer Price Index increased by 3% or more.[47] This addition was an attempt to index benefits to inflation so that benefits would rise automatically. If inflation was 5%, the goal was to automatically increase benefits by 5% so their real value didn't decline. Unfortunately, however, there was a technical error in the formula that caused these adjustments to overcompensate for inflation, a technical mistake which has been called double-indexing. The COLAs actually caused benefits to increase at twice the rate of inflation. Type Bicameral Houses Senate House of Representatives President of the Senate President pro tempore Dick Cheney, (R) since January 20, 2001 Robert C. Byrd, (D) since January 4, 2007 Speaker of the House Nancy Pelosi, (D) since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political... For other uses, see The Cost of Living. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ...


In October 1972, a $5 billion piece of Social Security legislation was enacted which expanded the Social Security program. For example, minimum monthly benefits of individuals employed in low income positions for at least 30 years were raised. Increases were also made to the pensions of 3.8 million widows and dependent widowers.[48]


These amendments also established the Supplemental Security Income (SSI). Immigrants who had never paid into the system became eligible for SSI benefits when they reached age 65. SSI is not a Social Security benefit, but a welfare program, because the elderly and disabled poor are entitled to SSI regardless of work history. Likewise, SSI is not an entitlement, because there is no right to SSI payments. Supplemental Security Income is a monthly stipend provided to some citizens by the United States federal government. ...


Social concerns
The impact of Social Security on women and minorities was analyzed during the early 1970s as both groups became increasingly vocal. Minorities noted that lower incomes and shorter life expectancies made their Social Security benefits insufficient. Women complained about the gender biases in Social Security. For example, many feminists argued that women continued to receive pensions through their relationships to male covered workers, a status which did not reflect the changing role of women in American culture.[49] The 1975 Quadrennial Council on Social Security proposed many ideas to extend the coverage of Social Security. Yet concern over the economy and the financial outlook of Social Security dominated this time period.


The 1970s and the negative financial outlook
Throughout the 1950s and 1960s, during the phase-in period of Social Security, Congress was able to grant generous benefit increases because the system had perpetual short-run surpluses. Congressional amendments to Social Security took place in even numbered years (election years) because the bills were politically popular, but by the late 1970s, this era was over. For the next three decades, projections of Social Security's finances would show large, long-term deficits, and in the early 1980s, the program flirted with immediate insolvency. From this point on, amendments to Social Security would take place in odd numbered years (years that were not election years) because Social Security reform now meant tax increases and benefit reductions. Social Security became known as the "Third Rail of American Politics." Touching it meant political death.


Several effects came together in the years following the 1972 amendments which rapidly changed the outlook on Social Security's long-term financial picture from positive to problematic. By the 1970s, the phase-in period, during which workers were paying taxes but few were collecting benefits, was largely over, and the ratio of elderly population to the working population was increasing. These developments brought questions about the capacity of the long term financial structure based on a pay-as-you-go program.


During the Carter administration, the economy suffered double-digit inflation, coupled with very high interest rates, oil shortages, high unemployment and slow economic growth. Productivity growth in the United States had declined to an average annual rate of 1%, compared to 3.2% during the 1960s. There was also a growing federal budget deficit which increased to $66 billion. The 1970s are described as a period of stagflation, meaning economic stagnation coupled with price inflation, as well as higher interest rates. Price inflation (a rise in the general level of prices) creates uncertainty in budgeting and planning and makes labor strikes for pay raises more likely. For other persons named Jimmy Carter, see Jimmy Carter (disambiguation). ... An interest rate is the rental price of money. ... World GDP/capita changed very little for most of human history before the industrial revolution. ... This article is about budget deficits. ... Stagflation, a portmanteau of the words stagnation and inflation, is a term in general use within modern macroeconomics used to describe a period of out-of-control price inflation combined with slow-to-no output growth, rising unemployment, and eventually recession. ...


These underlying negative trends were exacerbated by a colossal mathematical error made in the 1972 amendments establishing the COLAs. The mathematical error which overcompensated for inflation was particularly detrimental given the double-digit inflation of this period, and the error led to benefit increases that were nowhere near financially sustainable.


The high inflation, double-indexing, and lower than expected wage growth was financial disaster for Social Security.


1977 Amendments
To combat the declining financial outlook, in 1977 Congress passed and President Carter signed legislation fixing the double-indexing mistake. This amendment also altered the tax formulas to raise more money.[50] With these changes, President Carter remarked, "Now this legislation will guarantee that from 1980 to the year 2030, the Social Security funds will be sound."[51] This turned out to be not the case. The financial picture declined almost immediately and by the early 1980s, the system was again in crisis.


Amendments of the 1980s

After the 1977 amendments, the economic assumptions surrounding Social Security projections continued to be overly optimistic as the program moved toward a crisis. For example, COLAs were attached to increases in the CPI. This meant that they changed with prices, instead of wages. Before the 1970s, wage measurements exceeded changes in price. In the 1970s, however, this reversed and real wages decreased. This meant that FICA revenues could not keep up with the increasing benefits that were being given out. Continued high unemployment levels also lowered the amount of Social Security tax that could be collected. These two developments were decreasing the Social Security Trust Fund reserves.[52] In 1982, projections indicated that the Social Security Trust Fund would run out of money by 1983, and there was talk of the system being unable to pay benefits.[53] The National Commission on Social Security Reform, chaired by Alan Greenspan was created to address the crisis. Squalltoonix (born March 6, 1926 in New York City) is an American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. ...


The 1983 Amendments
The National Commission on Social Security Reform (NCSSR), chaired by Alan Greenspan, was empaneled to investigate the long-run solvency of Social Security. The 1983 Amendments to the SSA were based on the NCSSR's Final Report.Report of the National Commission on Social Security Reform. Retrieved on 2008-03-15. The NCSSR recommended enacting a six-month delay in the COLA and changing the tax-rate schedules for the years between 1984 and 1990.[54] It also proposed an income tax on the Social Security benefits of higher-income individuals. This meant that benefits in excess of a household income threshold, generally $25,000 for singles and $32,000 for couples (the precise formula computes and compares three different measures) became taxable. These changes were important for generating revenue in the short term. Squalltoonix (born March 6, 1926 in New York City) is an American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 74th day of the year (75th in leap years) in the Gregorian calendar. ...


Also of concern was the long-term prospect for Social Security because of demographic considerations. Of particular concern was the issue of what would happen when people born during the post-World War II baby boom retired. The NCSSR made several recommendations for addressing the issue. [55] Under the 1983 amendments to Social Security, signed into law by President Ronald Reagan, a previously-enacted increase in the payroll tax rate was accelerated, additional employees were added to the system, the full-benefit retirement age was slowly increased, and up to one-half of the value of the Social Security benefit was made potentially taxable income. [56][57] For further information, see Baby boomer. ... Reagan redirects here. ...


The 1983 Amendments and the Social Security Trust Fund
The 1983 Amendments also included a provision to exclude the Social Security Trust Fund from the unified budget (in political jargon, it was taken “off-budget”). This provision also provided for the exemption of Social Security and portions of the Medicare trust funds from any general budget cuts beginning in 1993.[58] This change was one way of trying to protect Social Security funds for the future. The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ...


As a result of these changes, particularly the tax increases, the Social Security system began to generate a large short-term surplus of funds, intended to cover the added retirement costs of the "baby boomers." Congress invested these surpluses into special series, non-marketable U.S. Treasury securities held by the Social Security Trust Fund. Under the law, the government bonds held by Social Security are backed by the full faith and credit of the U.S. government. Because the government had adopted the unified budget during the Johnson administration, this surplus offsets the total fiscal debt, making it look much smaller. There has been significant disagreement over whether the Social Security Trust Fund has been saved, or has been used to finance other government programs and other tax cuts. Treasury Securities are bonds issued by the U.S. Treasury. ...


The Supreme Court and the evolution of Social Security

The Supreme Court was responsible for major changes in Social Security. Many of these cases were pivotal in changing the assumptions about differences in wage earning among men and women in the Social Security system.[59] The Supreme Court of the United States (sometimes colloquially referred to by the acronym SCOTUS[1]) is the highest judicial body in the United States and leads the federal judiciary. ...

  • Goldberg v. Kelly (1970): The Supreme Court ruled that the due process clause of the Fourteenth Amendment required there to be an evidentiary hearing before a recipient can be deprived of government benefits.[60]
  • Weinburger v. Wiesenfeld (1975): A widower claimed that he was entitled to his deceased wife’s benefit, even though he had not been dependent on his wife. The court upheld his claims, stating that automatically granting widows the benefits and denying them to widowers violated equal protection in the Fifth Amendment.[61]

In Goldberg v. ... In United States law, adopted from English Law, due process (more fully due process of law) is the principle that the government must respect all of a persons legal rights instead of just some or most of those legal rights when the government deprives a person of life, liberty... Amendment XIV in the National Archives The Fourteenth Amendment to the United States Constitution (Amendment XIV) is one of the post-Civil War amendments (known as the Reconstruction Amendments), first intended to secure rights for former slaves. ... Congressman John Bingham of Ohio was the principal framer of the Equal Protection Clause. ... Amendment V (the Fifth Amendment) of the United States Constitution, which is part of the Bill of Rights, is related to legal procedure. ...

Dates of coverage for various workers

  • 1935 All workers in commerce and industry (except railroads) under age 65.
  • 1939 Age restriction eliminated; seamen, bank employees added; additional domestic workers and food-processing workers removed
  • 1946 Railroad and Social Security earnings combined to determine eligibility for and amount of survivor benefits.
  • 1950 Regularly employed farm and domestic workers. Nonfarm self-employed (except professional groups). Federal civilian employees not under retirement system. Americans employed outside United States by American employer. Puerto Rico and Virgin Islands. At the option of the State, State and local government employees not under retirement system. Nonprofit organizations could elect coverage for their employees (other than ministers).
  • 1951 Railroad workers with less than 10 years of service, for all benefits. (After October 1951, coverage is retroactive to 1937.)
  • 1954 Farm self-employed. Professional self-employed except lawyers, dentists, doctors, and other medical groups. Additional regularly employed farm and domestic workers. Homeworkers. State and local government employees (except firemen and policemen) under retirement system if agreed to by referendum. Ministers could elect coverage.
  • 1956 Members of the uniformed services. Remainder of professional self-employed except doctors. By referendum, firemen and policemen in designated States.
  • 1965 Interns. Self-employed doctors. Tips.
  • 1967 Ministers (unless exemption is claimed on grounds of conscience or religious principles). Firemen under retirement system in all States.
  • 1972 Members of a religious order subject to a vow of poverty.
  • 1983 All federal civilian employees hired after 1983; all employees of nonprofit organizations. Covered state and local government employees prohibited from opting out of Social Security.
  • 1990 Employees of state and local governments not covered under a retirement plan. [62]

Retirement, auxiliary, survivors, and disability benefits

The largest component of OASDI is the payment of retirement benefits. Throughout a worker's career, the Social Security Administration keeps track of his or her earnings. The amount of the monthly benefit to which the worker is entitled depends upon that earnings record and upon the age at which the retiree chooses to begin receiving benefits. For the entire history of Social Security, benefits have been paid almost entirely by using revenue from payroll taxes. This is why Social Security is referred to as a pay-as-you-go system. In approximately a decade (2019), payroll tax revenue is projected to be insufficient to cover Social Security benefits and the system will begin to withdraw money from the Social Security Trust Fund. The existence and economic significance of the Social Security Trust Fund is a subject of considerable dispute because its assets are special Treasury bonds; i.e., the money in the trust fund have been loaned back to the federal government to pay for other expenses (hence it is said that the fund consists of nothing but "IOUs"). Retirement is the point where a person stops employment completely. ... The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ... The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ... Treasury Securities are bonds issued by the U.S. Treasury. ... Look up IOU in Wiktionary, the free dictionary. ...


The Supreme Court decided, in Flemming v. Nestor (1960), that "entitlement to Social Security benefits is not a contractual right". In that case, Ephram Nestor, a Bulgarian immigrant to the United States who made contributions for covered wages for the statutorily required "quarters of coverage" was nonetheless denied benefits after being deported in 1956 for being a member of the Communist party. Flemming v. ... In modern usage, the term communist party is generally used to identify any political party which has adopted communist ideology. ...


The case specifically held:

2. A person covered by the Social Security Act has not such a right in old-age benefit payments as would make every defeasance of "accrued" interests violative of the Due Process Clause of the Fifth Amendment. Pp. 608-611. (a) The noncontractual interest of an employee covered by the Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits are based on his contractual premium payments. Pp. 608-610. (b) To engraft upon the Social Security System a concept of "accrued property rights" would deprive it of the flexibility and [363 U.S. 603, 604] boldness in adjustment to ever-changing conditions which it demands and which Congress probably had in mind when it expressly reserved the right to alter, amend or repeal any provision of the Act. Pp. 610-611. 3. Section 202 (n) of the Act cannot be condemned as so lacking in rational justification as to offend due process. Pp. 611-612. 4. Termination of appellee's benefits under 202 (n) does not amount to punishing him without a trial, in violation of Art. III, 2, cl. 3, of the Constitution or the Sixth Amendment; nor is 202 (n) a bill of attainder or ex post facto law, since its purpose is not punitive. Pp. 612-621.[63]

In simple terms, the decision means that Congress can cut benefits at any time. Type Bicameral Houses Senate House of Representatives President of the Senate President pro tempore Dick Cheney, (R) since January 20, 2001 Robert C. Byrd, (D) since January 4, 2007 Speaker of the House Nancy Pelosi, (D) since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political...


Primary Insurance Amount

A worker's retirement income benefit is based on his PIA (primary insurance amount). The PIA is based on the average of the highest 35 years of the worker's covered earnings (before deduction for FICA). Covered earnings in any year are limited by that year's Social Security Wage Base, the maximum earnings that could be subject to the OASDI portion of FICA payroll tax ($102,000 in 2008 [64]). If the worker has fewer than 35 years of covered earnings, zeros are used to bring the total number of years of earnings up to 35. Years of covered work more than 2 years before the year the worker turns 62 are indexed upward to reflect the increase in the national wage via the average wage index (AWI) from the time at which the earnings were covered in the past to the value of the AWI two years before the worker turns 62 (which is the most recent year available at the date the worker turns 62). One-twelfth of this 35-year average is the average indexed monthly earnings (AIME). The PIA then is 90% of the AIME up to the first (low) bendpoint, and 32% of the excess of AIME over the first bendpoint but not in excess of the second (high) bendpoint, plus 15% of the AIME in excess of the second bendpoint. Bendpoints designate the point at which the rates of return on a beneficiary's AIME change[65][66]. In 2008, the bendpoints for calculating the PIA are a change from 90% to 32% at $711 and a change to 15% at $4,288.[67][68] This PIA is then adjusted by automatic cost-of-living adjustments annually starting with the year the worker turns 62. Similar computations based on career average earnings determine disability and survivor benefits. These alternate computations average less years of earnings when the worker dies or is disabled before age 62 and use different base years for the inflation adjustments. For the OSADI or Social Security system, the SSWB or the Social Security Wage Base is the maximum earned income or upper threshold on which a wage earners FICA or Social Security tax may be based. ...


Normal retirement age

Main article: Retirement Insurance Benefits

The earliest age at which (reduced) benefits are payable is 62. Full retirement benefits depend on a retiree's year of birth.[69] Those born before 1938 have a normal retirement age of 65. Normal retirement age increases by two months for each ensuing year of birth until the 1943 year of birth, when it stays at age 66 years until the year of birth 1955. Thereafter the normal retirement age increases again by two months for each year ending in the 1960 year of birth, when normal retirement age stops at age 67 for all born thereafter.


A worker who starts benefits before normal retirement age has their benefit reduced based on the number of months before normal retirement age they start benefits. This reduction is 5/9 of 1% for each month up to 36 and then 5/12 of 1% for each additional month. This formula gives an 80% benefit at age 62 for a worker with a normal retirement age of 65, a 75% benefit at age 62 for a worker with a normal retirement age of 66, and a 70% benefit at age 62 for a worker with a normal retirement age of 67.


A worker who delays starting retirement benefits past normal retirement age earns delayed retirement credits that increase their benefit until they reach age 70. These credits are also applied to their widow(er)'s benefit. Children and spouse benefits are not affected by these credits.


The normal retirement age for widow(er) benefits shifts the year-of-birth schedule upward by two years, so that those widow(er)s born before 1940 have age 65 as their normal retirement age.


Spouse's benefit

Any current spouse is eligible, and divorced or former spouses are eligible generally if the marriage lasts for at least 10 years. (State marriages of same sex couples are not recognized by OASDI for spousal benefits because the federal DOMA law excluded them for federal recognition for federal rights.±) While it is arithmetically possible for one worker to generate spousal benefits for up to five of his/her spouses that he/she may have, each must be in succession after a proper divorce for each after a marriage of at least ten years. Because age 70 is the latest retirement age, and because no state recognizes marriage before teenage years, there are no more than 5 successive spousal benefits in ten-year intervals. This spousal retirement benefit is half the PIA of the worker; this is different from the spousal survivor benefit, which is the full PIA. The benefit is the product of the PIA, times one half, times the early-retirement factor if the spouse is younger than normal retirement age. There is no increase for starting spousal benefits after normal retirement age. This can occur if there is a married couple in which the younger person is the only worker and is more than 5 years younger. Only after the worker applies for retirement benefits may the non-working spouse apply for spousal retirement benefits. Divorce or dissolution of marriage is the ending of a marriage, which can be contrasted with an annulment which is a declaration that a marriage is void, though the effects of marriage may be recognized in such unions, such as spousal support, child custody and distribution of property. ... The Defense of Marriage Act, or DOMA is a federal law of the United States passed by Congress and signed by former President Bill Clinton on September 21, 1996. ... Arithmetic tables for children, Lausanne, 1835 Arithmetic or arithmetics (from the Greek word αριθμός = number) is the oldest and most elementary branch of mathematics, used by almost everyone, for tasks ranging from simple day-to-day counting to advanced science and business calculations. ...


Note that, since the passage of the Senior Citizens' Freedom to Work Act, in 2000, the spouse and children of a worker who has reached normal retirement age can receive benefits on the worker's record whether the worker is receiving benefits or not. Thus a worker can delay retirement without affecting spousal and children's benefits. The worker may have to begin receipt of benefits, to allow the spousal/children's benefits to begin, and then subsequently suspend his/her own benefits in order to continue the postponement of benefits in exchange for an increased benefit amount. [citation needed]


Widow's benefits

If a worker covered by Social Security dies, a surviving spouse can receive survivors' benefits. In some instances, survivors' benefits are available even to a divorced spouse. A father or mother with minor or disabled children in his or her care can receive benefits which are not actuarially reduced. The earliest age for a nondisabled widow(er)'s benefit is age 60. The benefit is equal to the worker's full retirement benefit for spouses who are at, or older than, normal retirement age. If the surviving spouse starts benefits before normal retirement age, there is an actuarial reduction. If the worker earned delayed retirement credits by waiting to start benefits after their normal retirement age, the surviving spouse will have those credits applied to their benefit. [70] Divorce or dissolution of marriage is the ending of a marriage before the death of either spouse. ... Actuarial science applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. ...


Children's benefits

Children of a retired, disabled or deceased worker may receive benefits as a "dependent" or "survivor" if they are under the age of 18, or between 18 and 19 and have not yet graduated from high school, or are over the age of 18 and were disabled before the age of 22.[70]


Disability

A worker who has worked long enough and recently enough (based on "quarters of coverage" within the recent past) to be covered can receive disability benefits. These benefits start after five full calendar months of disability, regardless of his or her age. The eligibility formula requires a certain number of credits (based on earnings) to have been earned overall, and a certain number within the ten years immediately preceding the disability, but with more-lenient provisions for younger workers who become disabled before having had a chance to compile a long earnings history.


The worker must be unable to continue in his or her previous job and unable to adjust to other work, with age, education, and work experience taken into account; furthermore, the disability must be long-term, lasting 12 months, expected to last 12 months, resulting in death, or expected to result in death.[71] As with the retirement benefit, the amount of the disability benefit payable depends on the worker's age and record of covered earnings.


Supplemental Security Income (SSI) uses the same disability criteria as the insured social security disability program, but SSI is not based upon insurance coverage. Instead, a system of means-testing is used to determine whether the claimants' income and net worth fall below certain income and asset thresholds. Supplemental Security Income is a monthly stipend provided to some citizens by the United States federal government. ...


Severely disabled children may qualify for SSI. Standards for child disability are different from those for adults. A male Caucasian toddler child A child (plural: children) is a young human. ...


Disability determination at the Social Security Administration has created the largest system of administrative courts in the United States. Depending on the state of residence, a claimant whose initial application for benefits is denied can request reconsideration or a hearing before an Administrative Law Judge. Such hearings sometimes involve participation of a vocational expert (VE) or medical expert (ME), both independent, unbiased witnesses, as called upon by the ALJ.


Reconsideration involves a re-examination of the evidence, and the opportunity for a hearing before a (non-Attorney at law) disability hearing officer. The hearing officer then issues a decision in writing, providing justification for his/her finding. If the claimant is denied at the reconsideration stage, (s)he may request a hearing before an Administrative Law Judge. In some states, SSA has implemented a pilot program that eliminates the reconsideration step and allows claimants to appeal an initial denial directly to an Administrative Law Judge. For information on the type of fish called Lawyer, see the article on Burbot. ...


Because the number of applications for Social Security is very large (approximately 650,000 applications per year), the number of hearings requested by claimants often exceeds the capacity of Administrative Law Judges. The number of hearings requested and availability of Administrative Law Judges varies geographically across the United States. In some areas of the country, it is possible for a claimant to have a hearing with an Administrative Law Judge within 90 days of his/her request. In other areas, waiting times of 18 months are not uncommon.


After the hearing, the Administrative Law Judge (ALJ) issues a decision in writing. The decision can be Fully Favorable (the ALJ finds the claimant disabled as of the date that (s) he alleges in the application through the present), Partially Favorable (the ALJ finds the claimant disabled at some point, but not as of the date alleged in the application; OR the ALJ finds that the claimant was disabled but has improved), or Unfavorable (the ALJ finds that the claimant was not disabled at all). Claimants can appeal Partially Favorable and Unfavorable decisions to Social Security's Appeals Council, which is in Virginia. The Appeals Council does not hold hearings; it accepts written briefs. Response time from the Appeals Council can range from 12 weeks to more than 3 years. An administrative law judge (ALJ) in the United States is an official who presides at an administrative trial-type hearing. ... This article is about the U.S. state. ...


If the claimant disagrees with the Appeals Council's decision, (s)he can appeal the case in the federal district court for his/her jurisdiction. As in most federal court cases, an unfavorable district court decision can be appealed to the appropriate appellate circuit court, and an unfavorable appellate court decision can be appealed to the United States Supreme Court. Map of the boundaries of the United States Courts of Appeals and United States District Courts The United States district courts are the general trial courts of the United States federal court system. ... The Supreme Court Building, Washington, D.C. The Supreme Court Building, Washington, D.C., (large image) The Supreme Court of the United States, located in Washington, D.C., is the highest court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States...


Current operation

Joining and quitting

Getting a Social Security number for a child is completely voluntary.[72] There is no legal requirement for individuals to join the Social Security program. The Social Security Act does not require a person to have a Social Security Number (SSN) to live and work in the United States.[73] Any "duty" to apply for and obtain a Social Security number can be summarized in this way: you get it if you need it or request it. There is no legal compulsion to do so. However, once joined there is no general provision for individuals to opt out of or quit the program. The FICA taxes imposed are mandatory on all workers and the self-employed. Employers are required[74] to report wages for covered employment to Social Security for processing Forms W-2 and W-3. There are some specific groups which are not required to pay into the Social Security program (discussed below). Internal Revenue Code Provisions section 3101 imposes payroll taxes on individuals and employer matching taxes. Section 3102 mandates that employers deduct these payroll taxes from workers' wages, at the worker's request (form W-4), before they are paid. Generally, the payroll tax is mandatory on everyone in employment earning "wages" as defined in 3121 of the Internal Revenue Code, and also taxes net earnings from self-employment.
Importantly, most parents apply for Social Security numbers for their dependent children in order to [75] include them on their income tax returns as a dependent. Everyone filing a tax return, as taxpayer or spouse, must have a Social Security Number or Taxpayer Identification Number (TIN) since the IRS is unable to process returns or post payments for anyone without an SSN or TIN. Moreover, the Internal Revenue Service will not[76] issue a TIN to anyone who qualifies for, but is not denied a Social Security number.


Trust fund

Social Security taxes are paid into the Social Security Trust Fund maintained by the U.S. Treasury (technically, the "Federal Old-Age and Survivors Insurance Trust Fund", as established by 42 U.S.C. § 401(a)). Current year expenses are paid from current Social Security tax revenues. When revenues exceed expenditures, as they have in most years, the excess is invested in special series, non-marketable U.S. Government bonds, thus the Social Security Trust Fund indirectly finances the federal government's general purpose deficit spending. In 2007, the cumulative excess of Social Security taxes and interest received over benefits paid out stood at $2.2 trillion. [77] The Trust Fund is regarded by some as an accounting trick which holds no economic significance. Others argue that it has specific legal significance because the Treasury securities it holds are backed by the "full faith and credit" of the U.S. government, which has an obligation to repay its debt. It is important to note, however, that while the Treasury guarantees the interest and principal payments it makes to the Social Security Trust Fund, the benefit payments made from the Social Security Trust Fund to American retirees have no guarantee at all. The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ... The Social Security Trust Fund is the United States federal governments means of accounting for workers paid-in contributions that are in excess of current payments. ... The U.S. Treasury building today. ... Title 42 of the United States Code outlines the role of Public Health and Social Welfare in the United States Code. ... A government bond is a bond issued by a national government denominated in the countrys own currency. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...


The Social Security Administration's authority to make benefit payments as granted by Congress extends only to its current revenues and existing Trust Fund balance, i.e., redemption of its holdings of Treasury securities. Therefore, Social Security's ability to make full payments once annual benefits exceed revenues depends in part on the federal government's ability to make good on the bonds that it has issued to the Social Security trust funds. The federal government's ability to repay Social Security, in turn, is contingent on fiscal policies taken today (which have tended to increase deficits and the percent of the budget spent on interest and principal payments) and in the future.


OHA and ODAR

"The Office of Hearings and Appeals (OHA) administers the hearings and appeals program for the Social Security Administration (SSA). Administrative Law Judges (ALJs) conduct hearings and issue decisions. The Appeals Council considers appeals from hearing decisions, and acts as the final level of administrative review for the Social Security Administration." [78] In 2006, OHA was renamed to ODAR. [79]


Double dipping

The current formula used in calculating the benefit level (primary insurance amount or PIA) is very progressive so that sizable benefits could be obtained with much less than the forty to thirty five years of covered wages. Workers who spend their entire careers in covered employment would be unfairly treated relative to workers who spend the first half of their careers not covered (as in municipal employment) by OASDI but are covered by an alternative plan. These people who later switch into covered employment would be entitled to both the alternative non OASDI pension (presumably from a state or municipality) and get an Old Age retirement benefit from Social Security. The progressivity of the PIA formula would in effect allow these workers to double dip. Therefore, there are two provisions that mitigate the effect of the double dipping: one for those who obtain OASDI benefits from a spouse who is a covered worker and the other for those who split their careers in covered and noncovered employment. This latter double dip has a claw back factor which starts at maximum at 10 years and grades out to zero at 30 years so that there is no clawback for those with 30 years or more of covered wages. This is to prevent those with abnormally low AIMEs due to few years of covered status from being treated as lifetime (say 44 years) career low wage earners with low AIMEs.


International agreements

In today's global environment people often relocate from one country to another, either permanently or on a limited time basis. This presents challenges to businesses, governments, and individuals seeking to ensure future benefits or having to deal with taxation authorities in multiple countries. To that end, the Social Security Administration has signed treaties, often referred to as Totalization Agreements, with other social insurance programs in various foreign countries.


Overall, these agreements serve two main purposes. First, they eliminate dual Social Security taxation, the situation that occurs when a worker from one country works in another country and is required to pay Social Security taxes to both countries on the same earnings. Second, the agreements help fill gaps in benefit protection for workers who have divided their careers between the United States and another country.


The following countries have signed totalization agreements with the SSA (and the date the agreement became effective):[80]

is the 353rd day of the year (354th in leap years) in the Gregorian calendar. ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display full calendar) of the Gregorian Calendar. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 1978 (MCMLXXVIII) was a common year starting on Sunday (link displays the 1978 Gregorian calendar). ... is the 335th day of the year (336th in leap years) in the Gregorian calendar. ... Also: 1979 by Smashing Pumpkins. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 213th day of the year (214th in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 1st day of the year in the Gregorian calendar. ... This article is about the year. ... is the 1st day of the year in the Gregorian calendar. ... This article is about the year 1987. ... is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... is the 213th day of the year (214th in leap years) in the Gregorian calendar. ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display full calendar) of the Gregorian Calendar. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... is the 244th day of the year (245th in leap years) in the Gregorian calendar. ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... is the 244th day of the year (245th in leap years) in the Gregorian calendar. ... Year 1994 (MCMXCIV) The year 1994 was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by the United Nations. ... is the 91st day of the year (92nd in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 335th day of the year (336th in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 274th day of the year (275th in leap years) in the Gregorian calendar. ... Also see: 2002 (number). ... is the 274th day of the year (275th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...

Social Security number

A side effect of the Social Security program in the United States has been the near-universal adaptation of the program's identification number, the Social Security number, as the national identification number in the United States. The social security number, or SSN, is issued pursuant to section 205(c)(2) of the Social Security Act, codified as 42 U.S.C. § 405(c)(2). A multitude of U.S. entities use the Social Security number as a personal identifier. These include government agencies such as the Internal Revenue Service, as well as private agencies such as banks, colleges and universities, health insurance companies, and employers. The promotional Social Security card as distributed by the F.W. Woolworth Company In the United States, a Social Security number (SSN) is a 9-digit number issued to citizens, permanent residents, and temporary (working) residents under section 205(c)(2) of the Social Security Act, codified as . ... Sample United States Social Security Card In the United States, a Social Security number (or SSN) is a number issued to citizens, permanent residents, and temporary (working) residents under section 205(c)(2) of the Social Security Act, codified as . ... A national identification number is used by the governments of many countries as a means of tracking their citizens, permanent residents, and temporary residents for the purposes of work, taxation, government benefits, health care, and other governmentally-related functions. ... Title 42 of the United States Code outlines the role of Public Health and Social Welfare in the United States Code. ... Seal of the Internal Revenue Service Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        IRS redirects here. ...


The Social Security Administration admits that the Social Security Act does not require a person to have a Social Security Number to live and work in the United States, nor does it require an SSN simply for the purpose of having one.[citation needed]


The Privacy Act of 1974 was in part intended to limit usage of the Social Security number as a means of identification. Paragraph (1) of subsection (a) of section 7 of the Privacy Act, an uncodified provision, states in part: This article needs to be cleaned up to conform to a higher standard of quality. ...

(1) It shall be unlawful for any Federal, State or local government agency to deny to any individual any right, benefit, or privilege provided by law because of such individual's refusal to disclose his social security account number.

However, paragraph (2) of subsection (a) of section 7 of the Privacy Act provides in part:

(2) the provisions of paragraph (1) of this subsection shall not apply with respect to -
(A) any disclosure which is required by Federal statute, or
(B) the disclosure of a social security number to any Federal, State, or local agency maintaining a system of records in existence and operating before January 1, 1975, if such disclosure was required under statute or regulation adopted prior to such date to verify the identity of an individual.[81]

The exceptions under section 7 of the Privacy Act include the Internal Revenue Code requirement that social security numbers be used as taxpayer identification numbers for individuals.[82] is the 1st day of the year in the Gregorian calendar. ... Year 1975 (MCMLXXV) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ...


Demographic and revenue projections

In each year since 1982, OASDI tax receipts, interest payments and other income have exceeded benefit payments and other expenditures, most recently (in 2004) by more than $150 billion. [83] As the "baby boomers" move out of the work force and into retirement, however, it is anticipated that expenses will come to exceed Social Security tax revenues if there are no changes in current law concerning taxes, benefits, and the retirement age. For further information, see Baby boomer. ...


According to most projections, the Social Security trust fund will begin drawing on its Treasury Notes toward the end of the next decade (around 2018 or 2019), at which time the repayment of these notes will have to be financed from the general fund. At some time thereafter, variously estimated as 2041 (by the Social Security Administration[84]) or 2052 (by the Congressional Budget Office[85]), the Social Security Trust Fund will have exhausted the claim on general revenues that had been built up during the years of surplus. At that point, current Social Security tax receipts would be sufficient to fund 74 or 78% of the promised benefits, according to the two respective projections. The Social Security Trustees suggest that either the payroll tax could increase to 16.41 percent in 2041 and steadily increased to 17.60 percent in 2081 or a cut in benefits by 25 percent in 2041 and steadily increased to an overall cut of 30 percent in 2081[86]. (Redirected from 2081) (20th century - 21st century - 22nd century - other centuries) Definition In calendars based on the Christian Era or Common Era, such as the Gregorian calendar, the 21st century is the current century, as of this writing, lasting from 2000-2099. ...


The Social Security Administration projects that the demographic situation will stabilize. The cash flow deficit in the Social Security system will have leveled off as a share of the economy. This projection has come into question. Some demographers argue that life expectancy will improve more than projected by the Social Security Trustees, a development that would make solvency worse. Some economists believe future productivity growth will be higher than the current projections by the Social Security Trustees. In this case, the Social Security shortfall would be smaller than currently projected.

Tables published by the government's National Center for Health Statistics show that life expectancy at birth was 47.3 years in 1900, rose to 68.2 by 1950 and reached 77.3 in 2002. The latest annual report of the Social Security trustees projects that life expectancy will increase just six years in the next seven decades, to 83 in 2075. A separate set of projections, by the Census Bureau, shows more rapid growth.

("Social Security Underestimates Future Life Spans, Critics Say"[87]) The Census Bureau projection is that the longer life spans projected for 2075 by the Social Security Administration will be reached in 2050. Other experts, however, think that the past gains in life expectancy cannot be repeated, and add that the adverse effect on the system's finances may be partly offset if health improvements induce people to stay in the workforce longer. The United States Census Bureau (officially Bureau of the Census as defined in Title ) is a part of the United States Department of Commerce. ...


Actuarial science, of the kind used to project the future solvency of social security, is by nature inexact. The SSA actually makes three predictions: optimistic, midline, and pessimistic (until the late 1980s it made 4 projections). The Social Security crisis that was developing prior to the 1983 reforms resulted from midline projections that turned out to be too optimistic. It has been argued that the overly pessimistic projections of the mid to late 1990s were partly the result of the low economic growth (according actuary David Langer) assumptions which resulted in the projected exhaustion date being pushed back (from 2028 to 2042) with each successive Trustee's report. During the heavy-boom years of the '90s, the midline projections were too pessimistic. Obviously, projecting out 75 years is a significant challenge and, as such, the actual situation might be much better or much worse than predicted.


Increased spending for Social Security will occur at the same time as increases in Medicare, as a result of the aging of the baby boomers. One projection illustrates the relationship between the two programs: President Johnson signing the Medicare amendment. ...

From 2004 to 2030, the combined spending on Social Security and Medicare is expected to rise from 7% of national income (gross domestic product) to 13%. Two-thirds of the increase occurs in Medicare. [88]

Taxation

Tax on wages and self-employment income

Benefits are funded by taxes imposed on wages of employees and self-employed persons. As explained below, in the case of employment, the employer and employee are each responsible for one half of the Social Security tax, with the employee's half being withheld from the employee's pay check. In the case of self-employed persons (i.e., independent contractors), the self-employed person is responsible for the entire amount of Social Security tax.


The Federal Insurance Contributions Act (FICA) (codified in the Internal Revenue Code) imposes a Social Security withholding tax equal to 6.20% of the gross wage amount, up to but not exceeding the Social Security Wage Base ($94,200 for the year 2006; $97,500 for 2007; and $102,000 for 2008). The same 6.20% tax is imposed on employers. For each calendar year for which the worker is assessed the FICA contribution, the SSA credits those wages as that year's covered wages. The income cutoff is adjusted yearly for inflation and other factors. For other uses, see FICA (disambiguation). ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... SSWB or the Social Security Wage Base is the maximum earned income or upper threshold on which a wage earners FICA or Social Security tax may be based. ...


A separate payroll tax of 1.45% of an employee's income is paid directly by the employer, and an additional 1.45% deducted from the employee's paycheck, yielding a total tax rate of 2.90%. There is no maximum limit on this portion of the tax. This portion of the tax is used to fund the Medicare program, which is primarily responsible for providing health benefits to retirees. President Johnson signing the Medicare amendment. ...


The combined tax rate of these two federal programs is 15.30% (7.65% paid by the employee and 7.65% paid by the employer).


For self-employed workers (who technically are not employees and are deemed not to be earning "wages" for Federal tax purposes), the self-employment tax, imposed by the Self-Employment Contributions Act of 1954, codified as Chapter 2 of Subtitle A of the Internal Revenue Code, 26 U.S.C. § 14011403, is 15.3% of "net earnings from self-employment."[89] In essence, a self-employed individual pays both the employee and employer share of the tax, although half of the self-employment tax (the "employer share") is deductible when calculating the individual's federal income tax.[90][91] Self-employment is the individual pursuit of capitalism. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes...


If an employee has overpaid payroll taxes by having more than one job or switching jobs during the year, the excess taxes will be refunded when the employee files his federal income tax return. Any excess taxes paid by employers, however, are not refundable to the employers. FairTax Flat tax Tax protester arguments Constitutional Statutory Conspiracy Taxation by country Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        The federal government of the United States imposes a progressive tax on the taxable income of individuals, partnerships, companies, corporations, trusts, decedents estates...


Wages not subject to tax

Workers are not required to pay Social Security taxes on wages from certain types of work:[92]

  • Wages received by certain state or local government workers participating in their employers' alternative retirement system.
  • Net annual earnings from self-employment of less than $400.
  • Wages received for service as an election worker, if less than $1,400 a year (in 2008).
  • Wages received for working as a household employee, if less than $1,600 per year (in 2008).
  • Wages received by college students working under Federal Work Study programs, graduate students receiving stipends while working as teaching assistants, research assistants, or on fellowships, and most postdoctoral researchers.
  • Earnings received for serving as a minister (or for similar religious service) if the person has a conscientious objection to public insurance because of personal religious considerations, but only for "qualified services" performed for a religious organization.
  • Other minor exceptions.

A teaching assistant (TA) is a junior scholar employed on a temporary contract by a college or university for the purpose of assisting a professor by teaching students in recitation or discussion sessions, holding office hours, grading homework or exams, supervising labs (in science and engineering courses), and sometimes teaching... A research assistant (RA) is a junior graduate scholar, employed on a temporary contract by a college or university for the purpose of academic research. ... This article is about scholarship (noun) and scholarship as a form of financial aid. ... A postdoctoral appointment (colloquially, a post-doc) is a temporary research position held by a person who has completed his or her doctoral studies. ...

Federal income taxation of benefits

The benefits received by retirees were not originally taxed as income in the year of receipt. Beginning in tax year 1984, with the Reagan-era reforms to repair the system's projected insolvency, retirees with incomes over $25,000 (in the case of married persons filing separately who did not live with the spouse at any time during the year, and for persons filing as "single"), or with combined incomes over $32,000 (if married filing jointly) or, in certain cases, any income amount (if married filing separately from the spouse in a year in which the taxpayer lived with the spouse at any time) generally saw part of the retiree benefits subject to Federal income tax. In 1984, the portion of the benefits potentially subject to tax was 50%.[93] Beginning with the 1994 tax year, after Pres. William Jefferson Clinton's Deficit Reduction Act of 1993, the portion of benefits potentially subject to tax was increased to 85%.[94] A fiscal year (or financial year or accounting reference date) is a 12-month period used for calculating annual (yearly) financial statements in businesses and other organizations. ... Reagan redirects here. ...


Criticism of the program

Critics of Social Security have made some negative claims about the program.


Claim that it discriminates against the poor and middle-class

Critics, such as Nobel Laureate economist Milton Friedman, say that Social Security redistributes wealth from the poor to the wealthy.[95][96] Workers must pay 12.4%, including a 6.2% employer contribution, on their wages below the Social Security Wage Base ($102,000 in 2008), but no tax on income in excess of this amount.[97] Therefore, high earners pay a lower percentage of their total income because of the income caps; because of this, payroll taxes are often viewed as being regressive. Furthermore, wealthier individuals generally have higher life expectancies and thus may expect to receive larger benefits for a longer period than poorer taxpayers.[98] A single individual who dies before age 62, who is more likely to be poor, receives no retirement benefits despite his years of paying Social Security tax. On the other hand, an individual who lives to age 100, who is more likely to be wealthy, is guaranteed payments that are more than he paid into the system.[99] The Nobel Prizes (pronounced no-BELL or no-bell) are awarded annually to people who have done outstanding research, invented groundbreaking techniques or equipment, or made outstanding contributions to society. ... Alan Greenspan, former chairman, United States Federal Reserve. ... Milton Friedman (July 31, 1912 – November 16, 2006) was an American Nobel Laureate economist and public intellectual. ... For the OSADI or Social Security system, the SSWB or the Social Security Wage Base is the maximum earned income or upper threshold on which a wage earners FICA or Social Security tax may be based. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        A regressive tax is a tax imposed so that the tax...


Supporters of Social Security say that despite its regressive tax formula, Social Security benefits are calculated using a progressive benefit formula that replaces a much higher percentage of low-income workers' pre-retirement income than that of higher-income workers (although these low-income workers pay a higher percentage of their pre-retirement income).[100] They also point to numerous studies that show that, relative to high-income workers, Social Security disability and survivor benefits paid on behalf of low-income workers more than offset any retirement benefits that may be lost because of shorter life expectancy.[101][102][103] Other research asserts that survivor benefits, allegedly an offset, actually exacerbate the problem because survivor benefits are denied to single individuals, including widow(er)s married less than nine months (except in certain situations),[104] divorced widow(er)s married less than 10 years[105], and co-habiting or same-sex couples, unless they are legally married in their state of residence.[106][107][108][109][110] Unmarried individuals tend to be less wealthy and minorities.[111]


Claim that politicians exempted themselves from the tax

Critics of Social Security have pointed out [112] that the politicians who created Social Security exempted themselves from having to pay the Social Security tax. When the federal government created Social Security, all federal employees, including the President and members of Congress, were exempt from having to pay the Social Security tax. This exemption was not repealed until more than 40 years later in 1984. [113]


Claim that the government lied about the maximum tax

George Mason University economics professor Walter E. Williams claimed that the federal government has broken its own promise regarding the maximum Social Security tax. [114] Williams used data from the federal government to back up his claim. Walter E. Williams (born 1936) is an American economist. ...


According to a 1936 pamphlet on the Social Security website, the federal government promised the following maximum level of taxation for Social Security, "... beginning in 1949, twelve years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay." [115]


However, according to the Social Security website, by the year 2007, the tax rate was 6.2% each for the employer and employee, and the maximum income level that was subject to the tax was $97,500. [116]


Williams wrote, "Had Congress lived up to those promises, where $3,000 was the maximum earnings subject to Social Security tax, controlling for inflation, today's $50,000-a-year wage earner would pay about $700 in Social Security taxes, as opposed to the more than $3,000 that he pays today." [117]


Claim that it gives a low rate of return

Critics of Social Security [118] claim that it gives a low rate of return, compared to what is obtained through private retirement accounts. For example, critics point out [119] that under the Social Security laws as they existed at that time, several thousand employees of Galveston County, Texas were allowed to opt out of the Social Security program in the early 1980s, and have their money placed in a private retirement plan instead. While employees who earned $50,000 per year would have collected $1,302 per month in Social Security benefits, the private plan paid them $6,843 per month. While employees who earned $20,000 per year would have collected $775 per month in Social Security benefits, the private plan paid them $2,740 per month, at interest rates prevailing in 1996. [120]. While some advocates of privatization of Social Security point to the Galveston pension plan as a model for Social Security reform, critics point to a GAO report to the House Ways and Means Committee, which indicates that, for low and middle income employees, the outcome may be less favorable.


Claim that it is a pyramid scheme

Economist Thomas Sowell argues in his books and columns that Social Security is a pyramid scheme. E.g. in Social Security: The Enron That Politicians Have In the Closet, he writes: Thomas Sowell (born June 30, 1930), is an American economist, political writer, and commentator. ... The unsustainable geometric progression of a classic pyramid scheme A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, usually without any product or service being delivered. ...

Social Security has been a pyramid scheme from the beginning. Those who paid in first received money from those who paid in second — and so on, generation after generation. This was great so long as the small generation when Social Security began was being supported by larger generations resulting from the baby boom.
But, like all pyramid schemes, the whole thing is in big trouble once the pyramid stops growing. When the baby boomers retire, that will be the moment of truth — or of more artful lies. Just like Enron.

Current controversies

Proposals to reform of the Social Security system have led to heated debate, centering around funding of the program. In particular, proposals to privatize funding has caused great controversy. This article concerns proposals to change the Social Security system in the United States. ...


Contrast with private pensions

Although Social Security is sometimes compared to private pensions, this is an improper comparison since Social Security is social insurance and not a retirement plan. The payment of disability benefits also distinguishes Social Security from most private pensions. In other ways the two systems are fundamentally different as well. A private pension fund accumulates the money paid into it, eventually using those reserves to pay pensions to the workers who contributed to the fund; and a private system is not universal. Social Security cannot "prefund" by investing in marketable assets such as equities, because federal law prohibits it from investing in assets other than those backed by the U.S. government. As a result, its investments to date have been limited to "special" non-negotiable securities issued by the U.S. Treasury, although some argue that debt issued by the Federal National Mortgage Association and other quasi-governmental organizations could meet legal standards. Social Security cannot by law invest in private equities, although some other countries (such as Canada) and some states permit their pension funds to invest in private equities. As a universal system, Social Security operates as a pipeline, through which current tax receipts from workers are used to pay current benefits to retirees, survivors, and the disabled. There is an excess of taxes withheld over benefits paid, and by law this excess is invested in Treasury securities (not in private equities) as described above. income= $5. ...


Two broad categories of private pension plans are "defined benefit pension plans" and "defined contribution pension plans." Of these two, Social Security is more similar to a defined benefit pension plan. In a defined benefit pension plan, the benefits ultimately received are based on some sort of pre-determined formula (such as one based on years worked and highest salary earned). Defined benefit pension plans generally do not include separate accounts for each participant. By contrast, in a defined contribution pension plan each participant has a specific account with funds put into that account (by the employer or the participant, or both), and the ultimate benefit is based on the amount in that account at the time of retirement. Some have proposed that the Social Security system be modified to provide for the option of individual accounts (in effect, to make the system, at least in part, more like a defined contribution pension plan). Specifically, on February 2, 2005, President George W. Bush made Social Security a prominent theme of his State of the Union Address. He described the Social Security system as "headed for bankruptcy", and outlined, in general terms, a proposal based on partial privatization. Critics responded that privatization would worsen the program's solvency outlook and would require huge new borrowing. See Social Security debate (United States). is the 33rd day of the year in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      For other uses, see President of the United States (disambiguation). ... George Walker Bush (born July 6, 1946) is the forty-third and current President of the United States of America, originally inaugurated on January 20, 2001. ... State of the Union redirects here. ... This article does not adequately cite its references or sources. ... This article concerns proposals to change the Social Security system in the United States. ...


Private pensions are governed by the Employee Retirement Income Security Act (ERISA), which requires minimum levels of funding. The purpose is to protect the workers from corporate mismanagement and outright bankruptcy, although in practice many private pension funds have fallen short in recent years. In terms of financial structure, Social Security would be analogous to an underfunded pension ("underfunded" meaning not that it is in trouble, but that its "savings" are not enough to pay future benefits without collecting future tax revenues). The Employee Retirement Income Security Act of 1974 (ERISA) (Pub. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ...


Court interpretation of the Act to provide benefits

The United States Court of Appeals for the Seventh Circuit has indicated that the Social Security Act has a moral purpose and should be liberally interpreted in favor of claimants when deciding what counted as covered wages for purposes of meeting the quarters of coverage requirement to make a worker eligible for benefits.[121] That court has also stated: ". . . [T]he regulations should be liberally applied in favor of beneficiaries" when deciding a case in favor of a felon who had his disability payments retroactively terminated upon incarceration.[122] According to the court, that the Social Security Act "should be liberally construed in favor of those seeking its benefits can not be doubted."[123] “The hope behind this statute is to save men and women from the rigors of the poor house as well as from the haunting fear that such a lot awaits them when journey's end is near.”[124]


Constitutionality

The constitutionality of Social Security is intricately linked to the evolving nature of Supreme Court jurisprudence on federal power (the 20th century saw a dramatic increase in allowed congressional action). When Social Security was first passed, there were significant questions over its constitutionality as the Court had found another pension scheme, the original Railroad Retirement Act, to violate the due process clause of the Fifth Amendment. Today, no plausible court challenge exists or is on the horizon. Although a small minority, several libertarians, such as University of Chicago law professor Richard Epstein and commentators like Robert Nozick, have argued that Social Security should be unconstitutional. Amendment V (the Fifth Amendment) of the United States Constitution, which is part of the Bill of Rights, is related to legal procedure. ... See also Libertarianism and Libertarian Party Libertarian,is a term for person who has made a conscious and principled commitment, evidenced by a statement or Pledge, to forswear violating others rights and usually living in voluntary communities: thus in law no longer subject to government supervision. ... For other uses, see University of Chicago (disambiguation). ... Richard Epstein Richard A. Epstein, born in 1943, is currently the James Parker Hall Distinguished Service Professor of Law at the University of Chicago Law School. ... Origins Ideas Topics Related Philosophy Portal Politics Portal        Robert Nozick (November 16, 1938 â€“ January 23, 2002) was an American philosopher and Pellegrino University Professor at Harvard University. ...


In the 1937 U.S. Supreme Court case of Helvering v. Davis[125], the Court examined the constitutionality of Social Security when George Davis of the Edison Electric Illuminating Company of Boston sued in connection with the Social Security tax. The U.S. District Court for the District of Massachusetts first upheld the tax. The District Court judgment was reversed by the Circuit Court of Appeals. Commissioner Guy Helvering of the Bureau of Internal Revenue (now the Internal Revenue Service) took the case to the Supreme Court, and the Court upheld the validity of the tax.


During the 1930s President Franklin Delano Roosevelt was in the midst of promoting the passage of a large number of social welfare programs under the New Deal and the High Court struck down many of those programs (such as the Civilian Conservation Corps and the National Recovery Act) as unconstitutional. After having a significant portion of his enactments struck down by the Supreme Court, Roosevelt proposed legislation that would have expanded the Supreme Court to fifteen members. This would have allowed him to nominate six additional members (under certain conditions) which would be more likely to uphold his enactments with his members in place. Believing that its autonomy and independence were significantly threatened by the legislation, the Supreme Court's tone seemed to change significantly[citation needed]. The Court allowed many New Deal programs very similar to ones they had previously struck down to go through, including Social Security. (see also The switch in time that saved nine) Franklin Delano Roosevelt (January 30, 1882–April 12, 1945), 32nd President of the United States, the longest-serving holder of the office and the only man to be elected President more than twice, was one of the central figures of 20th century history. ... This article is about the policy program of US President Franklin D Roosevelt. ... CCC workers on road construction, Camp Euclid, Ohio 1936 Civilian Conservation Corps (CCC) was a work relief program for young men from unemployed families, established on March 19, 1933 by U.S. President Franklin D. Roosevelt. ... -1... This article is about the policy program of US President Franklin D Roosevelt. ... “The switch in time that saved nine” was the name given by the press to the apparent sudden shift by Justice Owen J. Roberts from the conservative wing of the Supreme Court (represented by the Four Horsemen) to the liberal wing (represented by Three Musketeers) in the case West Coast...


When Helvering v. Davis was argued before the Court, the larger issue of whether or not the old-age insurance portion of Social Security is constitutional was not decided. The case was limited to whether or not the payroll tax was a suitable use of Congress's taxing power. Despite this, no serious challenges regarding the system's constitutionality are now being litigated, and Congress's spending power may be more coextensive, as shown in cases like South Dakota v. Dole[126] during the Reagan Administration.


Fraud and abuse

Social security number fraud

Because Social Security Numbers have become useful in identity theft and other forms of crime, various schemes have been perpetrated to acquire valid Social Security Numbers and related identity information. Identity theft is a term used to refer to fraud that involves stealing money or getting other benefits by pretending to be someone else. ...


In February 2006, the Social Security Administration received several reports of an email message being circulated addressed to “Dear Social Security Number And Card owner” and purporting to be from the Social Security Administration. The message informs the reader “that someone illegally is using your Social Security number and assuming your identity” and directs the reader to a website designed to look like Social Security’s Internet website.


“I am outraged that someone would target an unsuspecting public in this manner,” said Commissioner Jo Anne B. Barnhart. “I have asked the Inspector General to use all the resources at his command to find and prosecute whoever is perpetrating this fraud.” See Press Release. Commissioner Barnhart. ...


Once directed to the phony website, the individual is reportedly asked to confirm his or her identity with “Social Security and bank information.” Specific information about the individual’s credit card number, expiration date and PIN is then requested. “Whether on our online website or by phone, Social Security will never ask you for your credit card information or your PIN” Commissioner Jo Anne B. Barnhart reported. PINs are most often used for ATMs but are increasingly used at the Point of sale, especially for debit cards. ... Commissioner Barnhart. ...


Social Security Administration Inspector General O’Carroll recommended people always take precautions when giving out personal information. “You should never provide your Social Security number or other personal information over the Internet or by telephone unless you are extremely confident of the source to whom you are providing the information,” O’Carroll said. See Press Release.


Fraud in the acquisition and use of benefits

Given the vast size of the program, fraud occurs. The Social Security Administration has its own investigatory group, Continuing Disability Investigations (CDI). In addition, the Social Security Administration may request investigatory assistance from other federal law enforcement agencies including the Office of the Inspector General and the FBI. The United States Social Security Administration (or SSA[1]) is an independent agency of the United States government established by a law currently codified at 42 U.S.C. Â§ 901. ... The United States Social Security Administration (or SSA[1]) is an independent agency of the United States government established by a law currently codified at 42 U.S.C. Â§ 901. ... The Federal Bureau of Investigation (FBI) is a federal criminal investigative, intelligence agency, and the primary investigative arm of the United States Department of Justice (DOJ). ...


Restrictions on potentially deceptive communications

Because of the importance of Social Security to millions of Americans, many direct-mail marketers packaged their mailings to resemble official communications from the Social Security Administration, hoping that recipients would be more likely to open them. In response, Congress amended the Social Security Act in 1988 to prohibit the private use of the phrase "Social Security" and several related terms in any way that would convey a false impression of approval from the Social Security Administration. The constitutionality of this law (42 U.S.C. § 1140) was upheld in United Seniors Association, Inc. v. Social Security Administration, ___ F.3d ___ (4th Cir. 2005) (text at Findlaw [127]). (Cert. denied US Supreme Court, May 30, 2006). Wikibooks has more about this subject: Marketing Direct marketing is a discipline within marketing that involves contacting individual customers (business-to-business or consumer) directly and obtaining their responses and transactions for the purpose of developing and prolonging mutually profitable customer relationships. ... Constitutionality is the status of a law, a procedure, or an acts accordance with the laws or guidelines set forth in the applicable constitution. ... Title 42 of the United States Code outlines the role of Public Health and Social Welfare in the United States Code. ... is the 150th day of the year (151st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...


See also

This article concerns proposals to change the Social Security system in the United States. ... United States Social Security Card Social Security is a social insurance program administered by the Social Security Administration under the authority of the United States federal government. ... Supplemental Security Income is a monthly stipend provided to some citizens by the United States federal government. ... The 401(k) plan is a type of employer-sponsored defined contribution retirement plan under section 401(k) of the Internal Revenue Code () in the United States, and some other countries. ... A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). ... Tax rates around the world Tax revenue as % of GDP Part of the Taxation series        An Individual Retirement Account (or IRA) is a retirement plan account that provides some tax advantages for retirement savings in the United States. ... Ownership society is a slogan for a model of society promoted by United States President George W. Bush. ... This article aims to describe the financial expenditure associated with the operations and processes of world governments of all levels. ... The United States Social Security Administration (or SSA[1]) is an independent agency of the United States government established by a law currently codified at 42 U.S.C. Â§ 901. ... Commissioner Barnhart. ... Established in 1979, the National Organization of Social Security Claimants Representatives is an association of over 3,300 attorneys and paralegals who represent Social Security Disability Insurance and Supplemental Security Income claimants. ...

Notes

  1. ^ Social Security Act of 1935Social Security Online - History. Retrieved on November 8, 2006.
  2. ^ [42 USC 7]US Code--Title 42--The Public Health and Welfare. Retrieved on November 8, 2006.
  3. ^ 42 USC 401, Trust Funds. Retrieved on November 8, 2006.four
  4. ^ OASDI Expenditures. Retrieved on December 3, 2005.
  5. ^ MID-SESSION REVIEW, BUDGET OF THE U.S. GOVERNMENT, FISCAL YEAR 2008
  6. ^ A Reader's Companion to American History: POVERTY. Retrieved on March 17, 2006.
  7. ^ http://www.ssa.gov/history/1930.html
  8. ^ Achenbaum, Andrew. Social Security Visions and Revisions. New York: Cambridge University Press, 1986. p. 26
  9. ^ ibid p. 25
  10. ^ Mink, Gwendolyn. The Wages of Motherhood: Inequality in the welfare state, 1917-1942. Ithaca: Cornell University Press, 1995. p. 127
  11. ^ Quadagno, Jill. The Color of Welfare: How racism undermined the war on poverty. New York: Oxford University Press, 1994. p. 7
  12. ^ Kessler-Harris, Alice. In Pursuit of Equity: women, men, and the quest for economic citizenship in 20th century America. New York: Oxford University Press, 2001. p. 131
  13. ^ ibid p. 146
  14. ^ bid p. 130-1
  15. ^ ibid p. 157
  16. ^ Katznelson, Ira. When Welfare was White: The untold history of racial inequality in twentieth century America. New York: W.W. Norton, 2005. p. 43
  17. ^ ibid p. 48
  18. ^ ibid p. 44-5
  19. ^ Mink, Gwendolyn. The Wages of Motherhood, 1995. p. 126
  20. ^ ibid p. 130
  21. ^ ibid p. 127
  22. ^ ibid p. 142
  23. ^ ibid p. 143
  24. ^ Katznelson, Ira. When Welfare was White, 2005. p. 46
  25. ^ supremecourthistory.org
  26. ^ Steward Machine Company vs. Davis, 301 U.S, 548. Retrieved on December 3, 2005.
  27. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 124
  28. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 156
  29. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 130
  30. ^ ibid, p. 30
  31. ^ ibid, p. 33
  32. ^ Berstein, Merton and Joan. Social Security: The System that Works. New York: Basic Books, Inc., (1988). p. 10
  33. ^ www.ssa.gov/history/BudgetTreatment
  34. ^ Mink, Gwendolyn. The Wages of Motherhood, 1995. p. 134
  35. ^ Achenbaum, Andrew. Social Security Visions and Revisions. p. 30
  36. ^ ibid p. 27, 30
  37. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 134
  38. ^ Mink, Gwendolyn. The Wages of Motherhood, 1995. p. 135-6
  39. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 141
  40. ^ Mink, Gwendolyn. The Wages of Motherhood, 1995. p. 137
  41. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p.34
  42. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 150
  43. ^ ibid p. 161
  44. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 161
  45. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 129
  46. ^ www.ssa.gov/history/BudgetTreatment.html
  47. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 58
  48. ^ ibid p. 58
  49. ^ ibid p. 64
  50. ^ ibid p. 67
  51. ^ Sylvester J. Schieber and John. B. Shoven, The Real Deal: the History and Future of Social Security. (New Haven and London: Yale University Press, 1999), p. 182
  52. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 68
  53. ^ Sylvester J. Schieber and John. B. Shoven, The Real Deal, 1999, p. 190
  54. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 87
  55. ^ Chapter 2 of the 1983 Greenspan Commission on Social Security Reform. Retrieved on March 17, 2006.
  56. ^ Research Notes & Special Studies by the Historian's Office. Retrieved on March 17, 2006.
  57. ^ See 26 U.S.C. § 86.
  58. ^ www.ssa.gov/history/BudgetTreatment.html
  59. ^ Kessler-Harris, Alice. In Pursuit of Equity, 2001. p. 168
  60. ^ Achenbaum, Andrew. Social Security Visions and Revisions, 1986. p. 130
  61. ^ ibid p. 131
  62. ^ Security: Summary of Major Changes in the Cash Benefits Program
  63. ^ FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code
  64. ^ http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20070508/BUSINESS01/705080329
  65. ^ Social Security Administration "Considerations for Potential Proposals to Change the Earliest Eligibility Age for Retirement"
  66. ^ POMS RS 00605.021
  67. ^ Social Security Administration "Benefit Formula Bend Points"
  68. ^ POMS RS 00605.021
  69. ^ Normal Retirement Age. Social Security Administration (September 19, 2005). Retrieved on 2006-05-14.
  70. ^ a b Survivors Benefits. SSA Publication No. 05-10084, ICN 468540 (August 2007). Retrieved on 2007-12-24.
  71. ^ What We Mean By Disability. Retrieved on December 3, 2005.
  72. ^ Social Security Numbers For Children
  73. ^ http://home.hiwaay.net/~becraft/ScottSSNLetter.pdf
  74. ^ 26 USC 6051. Retrieved on November 8, 2006.
  75. ^ keepTax Reform Act of 1986. Retrieved on November 8, 2006.
  76. ^ notElectronic Code of Federal Regulations. Retrieved on November 8, 2006.
  77. ^ OASDI Trust Funds. Retrieved on January 23, 2008.
  78. ^ http://www.ssa.gov/oha/
  79. ^ http://ssaconnect.com/component/option,com_forum/Itemid,2/page,viewtopic/t,3295/
  80. ^ International Agreements. Retrieved on December 17, 2007.
  81. ^ Privacy Act of 1974, Pub. L. No. 93-579, 88 Stat. 1897 (31 December 1974), sec. 7(a) (emphasis added).
  82. ^ 26 U.S.C. § 6109(d).
  83. ^ OASDI Trust Funds (See above). Retrieved on December 3, 2005.
  84. ^ Social Security Administration. Retrieved on December 3, 2005.
  85. ^ Congressional Budget Office. Retrieved on December 3, 2005.
  86. ^ 2007 OASDI Trustees Report Conclusions
  87. ^ "Social Security Underestimates Future Life Spans, Critics Say". Retrieved on December 3, 2005.
  88. ^ It's More Than Social Security (washingtonpost.com). Retrieved on December 3, 2005.
  89. ^ See 26 U.S.C. § 1402.
  90. ^ I am self-employed. How do I pay Social Security tax?. Social Security Administration. Retrieved on April 28, 2007.
  91. ^ Self-Employment Tax. Internal Revenue Service. Retrieved on April 28, 2007.
  92. ^ IRS Publications 15, 15-A
  93. ^ Page 11, Instructions for 1984 Form 1040, U.S. Individual Income Tax Return, Internal Revenue Service, U.S. Dep't of the Treasury.
  94. ^ Page 19, Instructions for 1994 Form 1040, U.S. Individual Income Tax Return, Internal Revenue Service, U.S. Dep't of the Treasury.
  95. ^ http://www.ideachannel.tv/
  96. ^ Milton Friedman & Rose Friedman, "Free to Choose," (New York:Harcout, Brace, Jovanovich, 1980), pg. 102-107.
  97. ^ http://www.nysscpa.org/cpajournal/2005/405/perspectives/p17.htm
  98. ^ http://www.cato.org/testimony/ct-mt051705.html
  99. ^ http://www.niemanwatchdog.org/index.cfm?fuseaction=ask_this.view&askthisid=0084
  100. ^ Social Security's benefit formula provides 90% of average indexed monthly earnings (AIME) below the first "bend point", 32% of AIME between the first and second bend points, and 15% of AIME in excess of the second bend point. Primary Insurance Amount, Social Security Administration.
  101. ^ Cynthia M. Fagnoni, General Accounting Office, "Social Security and Minorities: Current Benefits and Implications of Reform", Testimony before the Subcommittee on Social Security, Committee on Ways and Means, House of Representatives, February 10, 1999.
  102. ^ Alexa A. Hendley and Natasha F. Bilimoria, Social Security Administration, "Minorities and Social Security: An Analysis of Racial and Ethnic Differences in the Current Program", Social Security Bulletin, Vol. 62 No. 2, 1999, pp. 59-64.
  103. ^ General Accounting Office, "Social Security and Minorities: Earnings, Disability Incidence, and Mortality Are Key Factors That Influence Taxes Paid and Benefits Received", Report to the Ranking Minority Member, Subcommittee on Social Security, Committee on Ways and Means, House of Representatives, April 2003.
  104. ^ POMS RS 00207.001.C2
  105. ^ POMS RS 00207.001.A2
  106. ^ POMS RS 00207.001.C1
  107. ^ Bella M. DePaulo, Wendy L. Morris (2006) "The Unrecognized Stereotyping and Discrimination Against Singles" Current Directions in Psychological Science 15 (5), 251–254.
  108. ^ C. Eugene Steuerle, Adam Carasso, "Social Security Benefits and the Language of Guarantees," (Urban Research Institute, 2000), [1]
  109. ^ http://www.reason.com/news/show/32932.html
  110. ^ http://www.cato.org/testimony/ct-mt051705.html
  111. ^ http://money.cnn.com/2006/01/18/pf/marriage_wealth/index.htm
  112. ^ http://www.whitehouse.gov/news/releases/2005/04/20050415-4.html
  113. ^ http://www.whitehouse.gov/news/releases/2005/04/20050415-4.html
  114. ^ http://www.jewishworldreview.com/cols/williams022305.asp
  115. ^ http://www.ssa.gov/history/ssn/ssb36.html
  116. ^ http://www.ssa.gov/pubs/10003.html
  117. ^ http://www.jewishworldreview.com/cols/williams022305.asp
  118. ^ http://www.ncpa.org/~ncpa/ba/ba215.html
  119. ^ http://www.ncpa.org/~ncpa/ba/ba215.html
  120. ^ http://www.ncpa.org/~ncpa/ba/ba215.html
  121. ^ Conklin v. Celebrezze, 319 F.2d 569 (7th Cir. 1963).
  122. ^ Dugan v. Sullivan, 957 F.2d 1384, 1389 (7th Cir. 1992) quoting Wyatt v. Barnhart, 349 F.3d 983, 986 (7th Cir. 2003).
  123. ^ Carroll v. Social Sec. Bd., 128 F.2d 876 (7th Cir. 1942), citing Helvering v. Davis, 301 U.S. 619, 640-645, 57 S.Ct. 904 (1937) (hereinafter Davis).
  124. ^ Davis, at 641.
  125. ^ 301 U.S. 619 (1937).
  126. ^ 483 U.S. 203 (1987).
  127. ^ United Seniors Association vs Social Security Administration. Retrieved on March 17, 2006.

is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 76th day of the year (77th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 76th day of the year (77th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 76th day of the year (77th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... is the 262nd day of the year (263rd in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... 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Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 23rd day of the year in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... December 17 is the 351st day of the year (352nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 365th day of the year (366th in leap years) in the Gregorian calendar. ... Year 1974 (MCMLXXIV) was a common year starting on Tuesday (link will display full calendar) of the 1974 Gregorian calendar. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 337th day of the year (338th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... is the 118th day of the year (119th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 118th day of the year (119th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Free to Choose is both a book (ISBN 0156334607) and a ten-part television series. ... is the 41st day of the year in the Gregorian calendar. ... Events of 2008: (EMILY) Me Lesley and MIley are going to China! This article is about the year. ... is the 76th day of the year (77th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

References

  • Community of Minds : Working Together - The $44 Trillion Abyss - 2003 Fortune Magazine[1]
  • Social Security Suicide - AlterNet[2]
  • "The Fake Crisis"[3]- Rolling Stone
  • "What Does Price Indexing Mean for Social Security Benefits?"[4]- from Center for Retirement Research, January, 2005 (explanation of wage indexing versus price indexing)
  • Getting a grip on Social Security: The flaw in the system[5]
  • Center for American Progress: Social Security by the Numbers (reference guide with stats)[6]
  • "An ownership society evolves: who says individualized accounts are a better way to solve social problems? The laws of nature"[7]by William Tucker (relates self-organization theory to Social Security)
  • Edward D. Berkowitz and Eric R. Kingson. Social Security and Medicare: A Policy Primer. Auburn House. 1993 online 214 pp
  • Shirley Jenkins, et al, eds. Social Security in International Perspective: Essays in Honor of Eveline M. Burns Columbia University Press, 1969 online
  • Patricia P. Martin and David A. Weaver. "Social Security: A Program and Policy History," Social Security Bulletin, Vol. 66 No. 1, 2005 online version
  • Myers, Robert J. Social Security. University of Pennsylvania Press. 1993.
  • Schieber, Sylvester J., and John B. Shoven. The Real Deal. Yale University Press 1999.
  • Max J. Skidmore; Social Security and Its Enemies: The Case for America's Most Efficient Insurance Program Westview Press, 1999 online
  • Michael D. Tanner; Social Security and Its Discontents: Perspectives on Choice Cato Institute, 2004 online libertarian criticism
  • David Traver Social Security Disability Advocate's Handbook James Publishing, 2006, ISBN 1-58012-033-4
  • Social Security Handbook, Germania Publishing, 2006.
  • Social Security Program Operations Manual System. Social Security Administration. https://s044a90.ssa.gov/apps10/poms.nsf/partlist!OpenView.

This article is about the magazine. ... Self-organization refers to a process in which the internal organization of a system, normally an open system, increases automatically without being guided or managed by an outside source. ...

External links

Charles Ellis Chuck Schumer (born November 23, 1950) is a Jewish American politician. ... Dollars & Sense is a magazine dedicated to providing left-wing perspectives on economics. ... Wikia (no official pronunciation[2]; originally Wikicities) is a selective wiki hosting service (or wiki farm) operated by Wikia, Inc. ... Dollars & Sense is a magazine dedicated to providing left-wing perspectives on economics. ... Dollars & Sense is a magazine dedicated to providing left-wing perspectives on economics. ... This article is about the policy program of US President Franklin D Roosevelt. ... For other uses, see The Great Depression (disambiguation). ... The New Deal coalition was the alignment of interest groups and voting blocs that supported the New Deal and voted for Democratic presidential candidates from 1932 until approximately 1966, which made the Democratic Party the majority party during that period, although they had only one Presidential majority after 1944. ... The Brain Trust was the name given to a group of diverse academics who served as advisers to U.S. President Franklin D. Roosevelt during the early period of his tenure. ... The American Liberty League was a U.S. organization formed in 1934 by conservative Democrats such as Al Smith (the 1928 Democratic presidential nominee), Jouett Shouse (former high party official and U.S. Representative), John Davis (the 1924 Democratic presidential nominee), and John Jacob Raskob (former Democratic National Chairman and... During his presidency from 1933 to 1945, Franklin D. Roosevelt established a series of programs which he called the New Deal. ... The Emergency Banking Act (also known as the Emergency Banking Relief Act) was an act of the United States Congress spearheaded by President Franklin D. Roosevelt during the Great Depression. ... Two separate United States laws are known as the Glass-Steagall Act. ... The Economy Act or in full the Economy Act Agreement for Purchasing Good or Services was a United States act, which the U.S. Congress passed on March 15, 1933. ... The Public Works Administration of 1933 (PWA) was a part of the first New Deal agency that made contracts with private firms for construction of public works. ... The Agricultural Adjustment Act (or AAA) (Pub. ... This article or section does not cite any references or sources. ... Photo of a sharecropper by Walker Evans for the U.S. Resettlement Administration Initially created as the Resettlement Administration in 1935 as part of the New Deal, the Farm Security Administration was an effort during the Depression to combat rural poverty. ... The Rural Electrification Administration (REA) was an agency of the United States federal government created on 11 May 1935 through efforts of the administration of President Franklin D. Roosevelt. ... FDR (Center) signs the Rural Electrification Act with Representative John Rankin (Left) and Senator William Norris (right) The Rural Electrification Act of 1936 provided federal funding for installation of electrical distribution systems to serve rural areas of the United States. ... The National Industrial Recovery Act (NIRA) or National Recovery Act (NRA) of June 16, 1933, was part of President Franklin Delano Roosevelts New Deal. ... NRA Blue Eagle poster. ... WPA Graphic The Works Progress Administration (later Work Projects Administration, abbreviated WPA), was created on May 6, 1935 by Presidential order (Congress funded it annually but did not set it up). ... FERA camps for unemployed women in Arcola, Pennsylvania; Second Camp, ca. ... CCC workers on road construction, Camp Euclid, Ohio 1936 Civilian Conservation Corps (CCC) was a work relief program for young men from unemployed families, established on March 19, 1933 by U.S. President Franklin D. Roosevelt. ... 6,000 Men and a Scenic Boulevard; San Francisco, California, ca. ... // Congress enacted the Securities Act of 1933 (the “1933 Act,” the Truth in Securities Act or the Federal Securities Act) 48 Stat. ... This article does not cite any references or sources. ... The Judiciary Reorganization Bill of 1937, frequently called the Court-packing Bill, was a law proposed by United States President Franklin Roosevelt. ... FDR redirects here. ... Harold LeClair Ickes (March 15, 1874–February 3, 1952) was a U.S. administrator and political figure. ... Henry Morgenthau Jr. ... Huey Pierce Long, Jr. ... Herbert Clark Hoover (August 10, 1874 – October 20, 1964), the thirty-first President of the United States (1929–1933), was a world-famous mining engineer and humanitarian administrator. ... Portrait of Robert F. Wagner in the U.S. Senate Reception Room Robert Ferdinand Wagner (8 June 1877–4 May 1953) was a Democratic United States Senator from New York from 1927 until 1949. ...

  Results from FactBites:
 
Social Security: Information from Answers.com (10912 words)
In that case, Ephram Nestor, a Bulgarian immigrant to the United States who made contributions for covered wages for the statutorily required "quarters of coverage" was nonetheless denied benefits after being deported in 1956 for being a member of the Communist party.
The Social Security Act was drafted by President Roosevelt's committee on economic security, under Edwin E. Witte, and passed by Congress in 1935 as part of the New Deal.
The arguments opposed to the Social Security Act (articulated by justices Butler, McReynolds, and Sutherland in their opinions) were that the social security act went beyond the powers that were granted to the federal government in the Constitution.
social security: Definition and Much More from Answers.com (2427 words)
Some of the first organized cooperative efforts to provide for the economic security of individuals were instituted by workingmen's associations, mutual-benefit societies, and labour unions; social security was not widely established by law until the 19th and 20th centuries, with the first modern program appearing in Germany in 1883.
Meanwhile, diverse social security programs were adopted throughout Europe, differing from country to country as to the kinds of insurance instituted, the categories of workers eligible, the proportions paid by employee, employer, and government, the conditions for receipt of benefits, the amounts of the benefits, and finally in the overall effects of the programs.
Social security is seen as providing assistance to retired workers, often in the form of a superannuation system that provides a pension from a fund to which workers and their employers (and in most countries the government) have contributed throughout their working lives.
  More results at FactBites »

 
 

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