Government Social Security

No government program in the US or world is larger than the US's government Social Security program. This program has been in existence since 1935, and has been amended repeatedly every decade of its existence. The program currently keeps 40% of Americans over age 65 out of poverty. To do this, the federal government spends more money on social security than on any other program, with 20.8% of the federal budget going into social security. This money comes from dedicated payroll taxes, called FICA taxes (Federal Insurance Contributions Act), which all workers and employees pay of the course of their careers. The amount of benefits paid in 2004 alone almost totaled $550 billion. The four main benefits paid out are retirement, disability, survivorship, and death. It is currently the largest social insurance program in the US, accounting for 37% of government expenditures and 7% of the gross domestic product.

Fast Facts

  • The government operates around 1300 Social Security offices nationwide
  • Social Security headquarters are located in Woodlawn, Maryland

government social security - Lawyers, Articles and Q&A

Search Results for "government social security"

Articles

Results 1-5 of 547 for "government social security"

Q&A

Results 1-5 of 58 for "government social security"

LA-WS5:0.9.17.120126.12696+