Social security

Social Security is a government program that provides financial support to people who are unable to work, such as the elderly, disabled, or unemployed. It is funded by taxes paid by workers and employers.

History[edit | edit source]

The concept of social security has been around for centuries, but it was not until the Great Depression in the United States that a formal social security program was established. The Social Security Act was signed into law by President Franklin D. Roosevelt in 1935.

Benefits[edit | edit source]

Social security provides a variety of benefits, including retirement income, disability income, and survivor benefits. The amount of benefits a person receives is based on their earnings history and the age at which they begin receiving benefits.

Funding[edit | edit source]

Social security is funded through a payroll tax that is paid by both workers and employers. The funds are then invested in U.S. Treasury securities, which earn interest and help to fund the program.

Challenges[edit | edit source]

Despite its success, social security faces several challenges. These include a growing aging population, increasing life expectancy, and a declining birth rate. These factors are putting pressure on the program's finances and could lead to future benefit cuts or tax increases.

References[edit | edit source]

Social security Resources
Need Help Finding a Doctor? Need help finding a doctor or specialist anywhere in the world? Explore our world directory. WikiMD's DocFinder can assist you in locating millions of physicians.	Medical Knowledge Access the latest research - Most recent articles Ongoing trials.