Prompt: 1
Social security is funded through taxes on income. Not every career path pays into social security, such as waiting tables in a restaurant, and not everyone can benefit from social security. To qualify, a person must work a certain number of years paying into the social security pool. The money that goes into social security is then distributed amongst the current beneficiaries.
The amount a person pays into social security is based on a percentage of their current income. The social security tax is regressive, meaning that as the amount taxed increases, or as income increases, the tax rate, or the percentage taken decreases. While it may ensure that everyone is paying a closer to equal amount into the system, this distribution places
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Everyone is going to die at some point. In class, there has been an expression used frequently and it is quite accurate: “Life, no one gets out alive.” My concerns in aging is not whether or not I will develop a condition, or even when, but how will I deal with it once it inevitably happens. While regular diet and exercise is paramount to maintaining good health, a positive support structure and maintaining social activity is really what I believe to be the most important aspect of quality care. I may be able to avoid developing a condition through a healthy lifestyle, but eventually, something is going to happen to decrease my quality of life. In order to be prepared for this, it is important to set up a strong social structure of support. If someone is able to maintain engagement in social activities, I believe that good health, or at the very least, the perception of good health will follow. This is more of a shift in focus rather than a change in the care plan. Rather than focusing on how an injury or illness will impede functionality, the focus should be placed on how to maintain engagement. This implies that the condition will be overcome, managed or avoided. There is a growing number of adults who are highly functional and contributing to society. This is not necessarily a measurement of successful aging, but it is
...n the retirement age. Yet Social Security's fiscal outlook remains strong. (“Next New Deal”, par. 3)
When the government provides elders with medical case, they relieve the middle class from the burden of caring for their relatives, through medical bill payments. Both classes also benefit from the welfare state (social benefits provided by company employers). The federal government ensures social welfare through tax expenditures, whereby benefits are subsidized and the employer employee payments are not taxed. Tax expenditures allow the government to finance these classes without utilizing direct spending. These expenditures are costly to the government, however they make home ownership less expensive, which benefits society as a whole. Congress has tried to limit several programs, although their popularity trumps Congress’s
There are many environmental influences as well as human behaviors that contribute to one’s expected life span. Health and lifestyle are two major factors that play a role in determining what life would be like during the senior years of life. There are many advantages to having a strong social support network that consists of caregivers paid and unpaid. Seniors with this tend to live longer, remain independent and stay active in their later years. Citizens in today’s society are living longer due to technology, medications and an overall healthier lifestyle. Many reach the age of 100 but the maximum human life span is 120 years old. One’s personal data, career choices, environmental influences and amount of active interactions will determine how those of the older population will experience the aging process.
There are many complications that can arise as one ages. As stated in the Aging Concepts and Controversies (2012) book, there are basically two worlds of aging; the ill-derly and the well-derly. While those that are well are able to take care of themselves or need very little help to perform their daily activities; those that are ill most likely we need to have some form of long-term care. As stated earlier, when looking at care options for older adults, there are two forms of care that many people try to decide between. The first option is home care. In this form of long-term care, the elder person is looked after by a spouse, family member such as a child or grandchild, or a close family friend. The other type of long-term care is nursing home or institutionalized care, where the elderly person is taking care of by professionals and lives in the facility where they are being taken care of. Many times it is not easy to decide which type of care will be best, it depends on many factors, such as the cost, level of care needed, and many other factors. Using this paper, I like to briefly look a...
The task of identifying my social identity was easier said than done. I acknowledged the somewhat privilege I encounter along with the oppression I endure. In retrospect, my social identity unambiguously resembles a coin where on one side oppression lies with dirt rusting but on the flip side privilege stares right back at me, shining bright. I initially could not see the benefits since I’m a low income college student. I became too encompassed with one side of the coin. After we learned what the word, privilege, indeed meant, I realized the various facets of my life in which that word could apply. Self pity can greedily advance on you from out of nowhere thus averting you from flipping the coin. I familiarized with counting my struggles instead of my blessings. In accordance with my social identity I would say I’m privileged with the
In comparison to the other programs, 23% of the total federal budget is spent on Social Security. This is not hard to believe considering the fact that Social Security plays a huge part in the lives of the elderly and those who hae trouble fending for
The thought of aging is not void of hesitance given it produces questions deprived of answers in the absence of a crystal ball. Subsequently, aging parallels the unknown; thus, faced with uncertainty adopting a positive perspective remains elusive. Although, it’s preferred to view aging optimistically one cannot escape its negative connotations. Will I be an active agent or isolated burden remains a noteworthy unknown that enervates my optimism. Another consideration leading to my vacillating view on aging is, not knowing to what degree personal competencies and capacities will carry forward, thereby affording autonomy in the elder years. However, as research suggest, the aging process transforms healthy adults into frail ones; thus, dashing one’s hope that such traits will endure (Friis, 2010). Incidentally, at age 48, these lingering questions will soon be answered. In the interim, there is an inherent responsibility to prepare physically, psychologically, and financially for entry into the aging population. Ideally, the goal is to
The Social Security Act of 1935 was established in order to help Americans receive benefits when they retire or in the event that they are not able to work anymore. All Americans who work pay taxes, which in turn are put into the Social Security system. When this act was passed, it was meant to supplement a person's income, when reaching the age of retirement. This money would add to their pensions or savings. Many retirees now depend on it as their only source of income. In the past, the majority of jobs had pensions and the employee contributed to it. In modern society, pensions are no longer the norm in jobs as they were 50 years ago. Blue collar jobs are more than likely to not have any sort of pension plan as opposed to white collar jobs. Not all people receive the same amount of money when they retire. Depending on the salary you earned when working, that will determine how much you will receive in your monthly Social Security check. A person who has worked at low paying jobs in their lifetime will barely receive enough in Social Security. Many of our elderly in the United States barely receive enough money that many elderly live below or just barely above the poverty level.
Employers and workers finance the program through payroll taxes. “Participation in the social security system is required for about 95 percent of all U.S. workers.” There are four main points why social security is going to fail and ruin it for the generation to come.
Social security, since instituted in 1935, has kept many elderly people from running below the poverty line (Hosansky). In 2015, the Social Security Administration predicted that the funds would be depleted by 2034 (Max). This poses a serious threat to the living situation of future generations when they retire. Our elderly, by today’s standards, enjoy a comfortable lifestyle. They are able to retire and still make over one thousand dollars a month. Some people also have private pensions which allow them to live even more comfortably. But with social security funds running out, we must ask the inevitable question. Is it worth having social security anymore? Social security should be kept. One must never fully rely on social security. In addition
Franklin D. Roosevelt signed the original Social Security Act. It comprised of two services: a Social Security retirement benefit that applied only to workers, and a welfare program for the elderly called Old Age Assistance. Social Security benefits were not paid until 1942 to allow for a period of partial forward funding. The retirement benefit service was funded by a two percent tax on the first $3000 of payroll earnings, 1 percent form employers and 1 percent from workers. In 1939, Social Security was amended to include coverage to dependents of workers who died. The payroll tax income was also set aside in a separate trust fund.
The United States government is considered to be a social welfare state. As discussed in class and mentioned in our notes a social welfare state is, “a society with a set of government programs that ensures a minimum standard of living for families and protects individuals from loss of income”. The United States in turn has several programs in its social welfare system. One of them is Medicare, which has seen a huge growth in recent years, and is funded by payroll taxes. Medicare
Social Security was established in 1935 by the Social Security Act and is the largest social welfare program in the United Sates. It is a mandatory insurance system that holds a FICA tax on worker payrolls and matches these funds with employer contributions that are kept in a trust fund that pays retirement pensions based on prior earnings in the labor market. The social security system was designed to supplement private saving and pensions. When each worker reaches retirement age, currently 66 for those born 1943-1954, the monthly pensions from Social Security fund to be paid. Over 90% of retired workers receive retirement pensions under this
For more than 75 years, social security has been designed to ensure retired workers that there will be money when it comes time to retire. Since 1935, social security has been the main foundation of economic security for Americans. Social security has developed a steady income for retired workers and helps the disabled worker make a decent living as well. The money made by the worker is divided into payments to help provide for them and their family. There are a few suggestions that should be taken into consideration in order to help fix social security problems. The raising old taxes that finance social security, and raising the retirement age, and only providing social security to ones who earn less than a certain amount of income are some
The family of the aging adult(s) is responsible for protecting them. Also, the family must care for their well-being mental and health wise. The families have to provide the required support to meet the needs of their loved one unless they do have the sufficient finance to take care of them. The protection of older adults is the responsibility of family, friends, facilities and the government. It is everyone's responsibility to protect the well-being of our seniors. Making a major medical decision will come, and it is necessary for someone other than the patient to make that decision. It is vitally important that every decision made for an older adult is to better that individual's life and honor their wishes. Older people are relying on family members more often for help. Often, adult children feel responsible for their parents when they age. Many adult children are choosing to care for their parents regardless of the time, energy, or responsibilities. Individuals who do not provide medical care can provide some social support. Moreover, the provision of social support can come