Social+Security

=**Social Security**=





Social Security was designed in 1935 by Franklin Roosevelt in the New Deal. It is something you receive when you are born. It requires you to pay a portion of every dollar you earn through payroll to the government. That money is then used to benefit retiring people older then 65, temporary unemployment, and dependent or disabled children. In 1937, there was a total of 53,236 beneficiaries with a total cost of $1,278,000. In 1976, the total cost jumped up to $120,511,000,000 with a total of 35,584,955 beneficiaries. 2008 (our most recent information), there was a total of $615,344,000,000 for 50,898,244 people. The way it works is, the younger generation (the working class) pays these taxes in order to get the old people out of the jobs to open up new ones for people. So in turn, the younger people are paying for the older people to retire so they can make money for themselves and the older generation. The social security is still very important today. It is used when looking to apply for jobs, banks and earn your social security benefits when its your turn.

Works Cited

"How Social Security Works." //Heartland//. N.p., n.d. Web. 29 Jan. 2016. . "John J Doe." //Freedom Works//. N.p., n.d. Web. 29 Jan. 2016. . "Social Security." //Bill Hick Is Dead//. N.p., n.d. Web. 29 Jan. 2016. . "SSA Logo." //Social Security//. N.p., n.d. Web. 29 Jan. 2016. .