What Are The Advantages And Disadvantages Of
For over 60 years, the Social Security program has been one the most successful domestic government programs, providing economic protection for US citizens of all ages. The Social Security is more like a set of programs, designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment. Such programs were originally enacted in 1935. As Americans we know that Social Security is very important for people with disabilities, people with families and for children who have lost a parent. However this program also has a variety of disadvantages as well.
As people work, they have to pay taxes that are sent to the Internal Revenue Service (IRS). Through this process people earn "credits" that count toward eligibility for future benefits. Nevertheless, there is a maximum of four credits per year that can be earned. Eligibility for benefits depends on the credits required by each category.
The Social Security consists of mainly five categories. Disability, Family Benefits, Survivors, Medicare and Retirement are these major categories. This type of division has converted the Social Security in a very successful program providing fair benefits to many Americans. These benefits consist of a monthly check depending on the five categories.
One of the major roles of the Social Security is to help the people with disabilities. For this reason the federal Disability Insurance (DI) is one of the trust funds of the Social Security. This trust fund, that receives .85% of the Social Security tax, has provided with hope to many of citizens that are in a misery as a result of a their disabilities or other reasons. According to the one of the policies, the benefits are given to those who have enough credits and have a severe physical or mental impairment that prevents them from working for at least one year or that would result in death. Usuall...