Session 12: The Social Security Act
What you think is being done about poverty (e.g., current policies and programs in the United States and globally).
President Franklin Roosevelt’s chief legacy was his transformation of the role of the government. He passed a serious of legislative acts that enlarged the function of the government in the daily lives of Americans. The Social Security act of 1935 was a major success for his administration because it protected workers with insurance for unemployment and old age. The Social Security Act is brilliant system where individuals are eligible for employer’s compensation only if they have completed at least forty quarters of work (ten years). By setting such requirements, the government ensures that at least the beneficiary has paid some part of the compensation. The Social Security act is one of the most successful anti-poverty measures ever invented by the government. The funds, which are collected through taxation, have saved millions of individuals who otherwise might have fallen into the ill cycle of absolute poverty. Social Security protects people from old age, disability, and provides hospital insurance. Although, social security is shadowed by the privatization vs. anti-privatization debate, up to the date, it has managed to keep millions out of poverty. Although, social security benefits are not sufficient to provide the elderly with a decent life, at least it helps.
For the most part social security has been positive as it does help people fight poverty to a certain extent. Unfortunately, social security is supposed to run out a bit too soon leaving many without their retirement and many people worse off. In order for this not to happen social security needs to continue even if that means that certain things will need to be raised, such as taxes. I think I rather pay more in taxes now and be able to have my retirement money when I need it which, I think, is better than not getting anything at all.
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