...Social Security is the economic security for Americans, retirees, disabled persons, and families of retired, disabled or deceased workers. The Social Security Act was signed by FDR on 8/14/35. The first Taxes were collected in January 1937 and the first one-time, lump sum payments were made that same month. The regular monthly benefits were started in January 1940. The pension aspect of the Social Security program was originally designed as a prepayment plan, with benefits to contribution. Social Security is largely a pay-as-you-go program. This means that today's workers pay Social Security taxes into the program and money flows back out as monthly income to beneficiaries. This is also the pre-funded retirement program. The money is accumulated in advance so that it will be available to be paid out to today's workers when they retire. This program is another form of saving for future. It reduce the risk at the older age by avoid loss of income due to retirement, death, disability, or unemployment, and to ensure access to health care. The amount of our Social Security benefits will depend mainly on three things the number of years we worked at qualifying jobs, how much money we made, and the age we retire. Why we have problems? Right now we are facing problem in the social security because the next decade will see the largest drop in worker-to-beneficiary ratios in history, as baby boomers begin to retire. The problem gets compounded when you consider that people's life spans...
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...Social Security Sherese Jones BUS681 Instructor Lori Wieters March 17, 2014 Social Security Every human being is faced with the problem of economic security (Dewitt, 2010). It’s a universal problem that encompasses the way in which an individual or family provides for assurance of income when an individual us either too old, too disables to work, when a family head of household dies, or when a worker faces involuntary unemployment (Dewitt, 2010). Some strategies are mostly individual such as saving and investing. Others rely on help from family members, religious group, unions, or social welfare programs (Dewitt, 2010). Some strategies are mixed with both and with use of various forms of insurance to reduce economic risks (Dewitt, 2010). The concept of insurance is to minimize economic risk by contributing to a fund from which benefits can be paid when and insured individual suffers a loss (Dewitt, 2010). From this social insurance was derived. Social insurance provides a method to address their economic security (Dewitt, 2010). The concept of social insurance is that the individual contributes to a central fund managed by governments and then used to provide income to individuals when they become unable to support themselves thus, creating the U.S. Social Security system (Dewitt, 2010). For this assignment, the concept of social security will be discussed as well as the viability of the program over the next 20 – 30 years and will provide recommendations on how...
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...Power and Functions of The Security Council The powers and functions of the Security Council are discussed bellows; I. Maintaining International Peace and Security: Article 24, 25, and 26 of the Charter are relevant in this context. The primary function of the Security Council is to maintain international peace and security is to be exercised by two means: First, is the pacific settlement of international disputes and second is the taking of enforcement action. a) Pacific settlement of disputes: # The parties to any dispute, threat to International peace and security, shall seek a solution by negotiation, enquiry, mediation, arbitration, judicial settlement. #The Security Council shall, when it deems necessary, call upon the parties to settle their dispute. # The security council may investigation any dispute, which might lead to international conflict, in order to determine whether the continuance of the dispute is likely endanger international peace and security. # Any member of the UN may bring any disputes to the attention of the Security Council or the General Assembly. A state which is not a member of the UN may also bring any disputes to the attention of the Security Council or General Assembly. # Security Council should take into consideration any procedure for the settlement of dispute, which have already been adopted by the parties. # Security Council should take into consideration the legal disputes referred to the International...
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...and Social Security Policy During the 1990s Douglas W. Elmendorf Federal Reserve Board Jeffrey B. Liebman Harvard University and NBER David W. Wilcox Federal Reserve Board Revised July 2001 This paper was presented at a conference on “American Economic Policy in the 1990s” held June 27 to 30, 2001 at the John F. Kennedy School of Government, Harvard University. The views expressed in this paper are those of the authors and are not necessarily shared by any of the institutions with which they are affiliated. We thank Al Davis, Peter Diamond, Edward Gramlich, Peter Orszag, Gene Sperling, and Lawrence Summers for comments on an earlier draft. Elmendorf was formerly Deputy Assistant Secretary of the Treasury in the Office of Economic Policy, and prior to that Senior Economist at the Council of Economic Advisers; Liebman was formerly Special Assistant to the President for Economic Policy at the National Economic Council; and Wilcox was formerly Assistant Secretary of the Treasury for Economic Policy. Table of Contents Page 1. Introduction 2. Budget Outcomes and Projections Improved Budget Picture Sources of Improvement 3. Budget Deficit Reduction: 1990 through 1997 OBRA90 OBRA93 What Did Deficit Reduction Ultimately Accomplish? The Republican-Controlled Congress BBA97 4. Entitlement Reform and Saving Social Security First Entitlement Commissions Social Security Saving Social Security First 5. Social Security Reform Options Using Projected Budget Surpluses as Part of Social Security...
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...A Report on American Economics in English Includes Social Security. 006 American Government-Economics Most of the problems of the United states are related to the economy. One of the major issues facing the country today is social security. The United States was one of the last major industrialized nations to establish a social security system. In 1911, Wisconsin passed the first state workers compensation law to be held constitutional. At that time, most Americans believed the government should not have to care for the aged, disabled or needy. But such attitudes changed during the Great Depression in the 1930's. In 1935, Congress passed the Social Security Act. This law became the basis of the U.S. social insurance system. It provided cash benefits to only retired workers in commerce or industry. In 1939, Congress amended the act to benefit and dependent children of retired workers and widows and children of deceased workers . In 1950, the act began to cover many farm and domestic workers, non professional self employed workers, and many state and municipal employees. Coverage became nearly universal in 1956, when lawyers and other professional workers came under the system. Social security is a government program that helps workers and retired workers and their families achieve a degree of economic security. Social security also called social insurance (Robertson p. 33), provides cash payments to help replace income lost as a result of retirement...
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...Social Security: Then and Know Deanna Havens SOC 320/ Public Policy & Social Services December 10, 2011 Social Security was established by President Franklin D. Roosevelt in 1935, during the great depression. The social security system was supposed to be a creation that would cover nearly all Americans. Over the years social security has expanded in both dollar amounts and the way you are eligible to receive benefits. Social security smoothes the risks of economic cycles, and it remains the most secure retirement income in America. Intentionally or unintentionally, those who think that the surplus in social security is disappearing are misleading the American public. Social security is financed mainly through payroll taxes on wages, and self-employment income. Employees and employers contribute 6.2 of wages, up to a wage gap of 106.800 in 2009 that ordinarily increases with the growth in the nation’s average wage. The self-employed contribute the equivalent of the combined employer and employee tax rates. According to the annual social security report (2010) income from social security payroll taxes will account for about eighty-three percent of trust fund income. At the end of 2008, nearly fifty-one million people were receiving benefits: thirty-five million were retired workers, six million survivors of deceased workers, and nine million disabled workers. During the last year an estimated one hundred sixty-two million workers had earnings covered by social security...
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...SOCIAL SECURITY FOR DEVELOPING NATIONS “If a free society cannot help the many who are poor; it cannot save the few who are rich.” ~ John F. Kennedy, Kennedy’s Inaugural address of 1961. "Social Security. . . reflects some of our deepest values--the duties we owe to our parents, the duties we owe to each other when we’re differently situated in life, the duties we owe to our children and our grandchildren. Indeed, it reflects our determination to move forward across generations and across the income divides in our country, as one America." ~ William J. Clinton INTRODUCTION Social security is a program that uses public funds to provide economic security to the public in case they suffer from a contingency. Usually Germany is known as the first country to have started with this program. It was designed by the German Chancellor, Otto von Bismarck. It was done by him to promote the well-being of workers for an efficient economy. Although social security tends towards socialism, Bismarck was a staunch “right” supporter. In fact, he launched this plan to stave off proposals of radical socialism. The American Civil War also saw some true government relief programmes that could be called as social security programmes. The Civil War Pension Program was signed into law in 1862 and provided funds to American soldiers who were disabled in battle. In 1937, Franklin Roosevelt signed the Social Security Act. In 1950, social security also adjusted it according to the prevalent...
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...The Debate of Social Security Kenneth L. Broaden COMM/215 ESSENTIALS OF COLLEGE WRITING Dr. Leondra Radford-Ddungu March 26, 2014 Introduction Social Security can be a vital and reliable resource of income for disabled and retired citizens. However, although social security is available today, it may not be available in the near future. In this paper, you will find the history of social security, and its intended purpose to exist. The debates for the plans for social security will also be discussed; also, the attempts to reform social security, and why the intentions to reform social security have failed. Early Development stages of Social Security Social security took shape during the “New Deal” and post-World War II era. The system has been divided into four main parts, which are: federal old-age, disability insurance, and survivors. These four main parts were adopted in 1935 as a key element of the social security act. The four main parts are now widely known as social security. During the legislative process in 1983, congress made a set of technical changes to solve the fiscal crisis in social security. One of the changes would be a rise in the retirement age from 65 to 67 years of age; this will take place between the years 2000-2022. Overall in 1983 legislation preserved the basic characteristics of the social security program. Actuarial provisions were more favorable in the 1990’s as economic growth helped boost the trust fund reserves. There are current actuarial...
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...People with disabilities (PWD) are faced with many challenges. Prejudice and discrimination is a challenge people with disabilities are faced with. There are several sources of prejudice and discrimination. This essay identifies a source of prejudice and discrimination and explains the effects that source of prejudice and discrimination may have on a person with a disability. It considers a way to change negative attitudes and behavioral related to the source of prejudice and discrimination towards people with disabilities. A prejudice is having an attitude and beliefs about a particular group or culture, which could lead to discrimination. Discrimination is an act of denying the rights of those whom they believe do not deserve the same...
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...making economic development equitable and sustainable. Increasingly, bringing all parts of society up to minimum standards of living is becoming an issue of social responsibility and political requirement in emerging economies through social security programs. However, emerging economies are facing many constraints in implementing widespread social security programs to affect equality, poverty alleviation, and income security. When considering Social Security for emerging economies, there are two central issues that must be addressed; can emerging economies sustain viable social security systems, and is social security vital to the development of emerging economies. To understand these issues, and possible solutions, it is useful to look towards the established models found in Europe for answers. Social Security To analyze the issue at hand, we must first understand the definition of social security, as the benefits offered by the State and society differ from country to country. For example, Social Security is a narrowly defined program in the United States, which offers supplemental income to those of retirement age at 65 and older. However, in Europe, social security encompasses a slate of programs that provide cash transfers and benefits for the aged, unemployed, ill, and poor. These programs are often manifested in the form of pensions, unemployment benefits, and in many countries universal healthcare. For this exercise we will use the broad definition of Social Security...
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...and situation peoples of Malay in the colonial era. There are sad, bleaker and darker. If announced to the public about this story is sure to be stunned, speechless and some who shed tears of sympathy. Imagine imperialist atrocities when they were everywhere on our shoes. Indigenous populations into slaves, while other people pleasing profits from the sweat of our ancestors. Today security can no longer be defined only in the traditional form of accounting for the military threats and related issues even if we to enjoy nearly 54 years of independent in which globalization. The nation-state had to work together to safeguard commons interests, but at the same time maintaining special interest to them. This resulted in increasing need to maintained good relations between countries. Malaysia is no exception in this case, let alone this country in the middle of Southeast Asia and has strategic positioned as a bridge between Southeast Asia continents with the islands of Southeast Asia. It is also surrounded by some countries that do not have the internal political stability, which could affect the security of Malaysia. Countries such...
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...Our Social Security program is in serious trouble. What is the solution? One possible answer is to look towards the privatization of funds. Pick up a magazine, newspaper, listen to the radio, or even turn on the television and you can’t help hearing someone talk about our Social Security program. Seeing that we are getting ready for the upcoming presidential election, the subject of what to do with our Social Security is definitely on everyone’s mind. Social Security is a crucial portion in any business compensation package. It is something that we cannot do without, or can we? So what’s wrong with our Social Security program? Talk to several different people and you most likely will not get the same answer. As the following pages unfold, you will have a snapshot on the background history of the program, a view on what is wrong, and some possible solutions. The need for economic security can be traced back to the early Greek civilization, who stockpiled olive oil as a way to secure their future. The groundwork for a public system of economic security could be seen during the late 1700’s, as Thomas Paine, a Revolutionary War figure, published a business proposal depicting the need. The Civil War era saw the creation of pension plans (mainly military). It wasn’t until 1906 that “old age” was added to the means of obtaining a pension. Significant events in our history were a preview for the creation of our Social Security...
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...reliably applied. A practitioner of science is known as ascientist. 2. This study examines differences in standards of research publications between the physical sciences and the social sciences. The results of the first two hypotheses tested indicate that the predominant form of publication in the physical sciences are articles, whereas books predominate in the social sciences. Furthermore, differences were found in the relevant dimension of publication between faculties in more prestigious departments and faculties in less prestigious departments. The policy implications of these findings to university administration are discussed. Physical Science is an encompassing term for the branches of natural science and science that study non-living systems, in contrast to the life sciences. However, the term "physical" creates an unintended, somewhat arbitrary distinction, since many branches of physical science also study biological phenomena. There is a difference between physical science and physics. The social sciences are the fields of scholarship that study society. "Social science" is commonly used as an umbrella term to refer to a plurality of fields outside of the natural sciences. These include: anthropology, archaeology, business administration, communication, criminology, economics, education, government, linguistics, international...
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...Defining Security “Security” comes from a broader subject referred to International Relations which is the study of all political cooperation that occurs between states that have their own government, international organizations with or without government influence, and some wealthy separate individuals. “Security Studies concerns itself with a sub-set of those political interactions marked by their particular importance in terms of maintaining the security of actor” (Hough 2008: 2). Depending on the emergency of security of an actor will depend how a government or country will act on the security measure. For example, concerns relating to health and rights of the people will be at top on the global political agenda compare to other events such as natural disasters or mass killings are rarely seen as security concerns. It might be of importance to the people that these events are happening to, but not to the people not being affected. There are four main paradigms of International Relations that affect issues in security. Those paradigms are Realism, Pluralism, Marxism, and Social Constructivism. Realism is the idea that states should be self-centered, competitive, and should look after themselves and not trust any other states. The state should do anything within its reach to expand its power in wherever possible being in military or economic sectors in order to secure themselves and be at the top. Realists tend to favor governments that separate the high and low...
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...The U.S. Census Bureau’s Significance on Social Security Abstract This paper briefly details the significance of the United States Census Bureau, a human services organization whose data is used to formulate major decisions that impact both the federal government and the people. The key issue elected for discussion is social security, a program designed to support the needs of our senior citizens, as it relates to a growing population of seniors calculated by the United States Census Bureau. Subsequently, the paper briefly highlights some of Burger’s thoughts on the issue and concludes my perspective on the organization and Burger. The U.S. Census Bureau’s Significance on Social Security The following is the mission statement of the U.S. Census Bureau (USCB), “The Census Bureau serves as the leading source of quality data about the nation's people and economy. We honor privacy, protect confidentiality, share our expertise globally, and conduct our work openly. We are guided on this mission by our strong and capable workforce, our readiness to innovate, and our abiding commitment to our customers.” (U.S. Census Bureau [USCB], 2010) The USCB is a human services organization that was established in 1902, but officiated in 1903. It collects raw data on the U.S. population for multiple uses and abides by strict non-disclosure guidelines to gain and/or maintain the public’s trust. It converts the raw data into useful information that assist the federal government in deciphering...
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