What would you like to do?
What is the political difference between programs like Social Security or Medicare and Aid to Families with Dependent Children?
one involves means test the other does not one involves means test the other does not
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The Democratic Party under President Franklin D Roosevelt (for Social Security, 1935), and the same party under Lyndon Johnson for Medicare (1965).
I would say no. Social Security payments depend on your lifetime employment payments. Medicare in health benefits help by the government. An inheritance, depending upon how mu…ch it is, might effect your income taxes, depending upon the amount.
Medicare, which is an insurance program, was enacted through a bipartisan vote of Congress, with the support of the administration of President Lyndon Johnson.
That depends on your definition of "socialist." Social Security and Medicare are financed by participants and their employers, so in that sense are probably not socialist. Med…icaid, which is financed by public funds (taxes and borrowed money), could probably be considered socialist. However, in that sense, fire protection and law enforcement could also be considered socialist.
designed to help the elderly
Social Security began in 1935 under Franklin Roosevelt. The first payments were issued in 1940. Medicare began in 1965 under Lyndon Johnson.
Yes. Your Medicare card number is your Social Security number with an alpha-numeric code on the end that indicates your status for drawing benefits. For example, an A mean…s you are (or were) the primary wage earner; B means "aged wife, 62 or older; B1 means aged husband, 62 or older, and so on. Just to add on to this Beautiful answer...you should ask another question on ask.com "Why did i find it smart to post my SOCIAL SECURITY CARD online!" Example: 123-45-6789 A
According to the ILO, social security is the protection which society provides for its members through a series of public measures: To offset the absence or substantial reduct…ion of income from work resulting from various contingencies (notably sickness, maternity, employment injury, unemployment, invalidity, old age and death of the breadwinner); To provide people with health care; and To provide benefits for families with children. Social protection is defined to include not only public social security schemes but also private or non-statutory schemes with a similar objective, such as mutual benefit societies and occupational pension schemes, provided that the contributions to these schemes are not wholly determined by market forces.
In simplest terms, it is a privately held retirement plan which rewards you for doing something that you should be doing anyway....saving for your old age. Social Security is… mandatory. An IRA is voluntary.With Social Security, your contributions are mandatory. With an IRA, you control how much you contribute.With an IRA, you choose what you want your money invested in and your contributions are tax exempt.With an IRA you can designate one or more beneficiaries, and leave it to whomever you choose.Social Security pays barely enough to survive, which is why many retirees have part-time jobs to make ends meet. A properly managed IRA can set you up in comfort for your Golden Years, that is, if you have enough extra income to contribute.There is one catch. If you take your money out of the IRA before retirement you will pay a 37% penalty for early withdrawal. There is also a Roth IRA in which the contributions are made after income taxes are paid and the money can be withdrawn at any time, tax free. A regular IRA is not tax free, but it is tax deferred. By deferring the taxes until retirement age, the investment grows at a much faster rate. I began mine at age 25, and I wish I had done it at 18, but how many 18-year-olds think about retirement?
That depends on what kind of coverage you elect. Medicare Part A (hospitalization) is paid out of the FICA contributions you made during your working years, so there is no c…ost to you when you retire or become disabled. Medicare Part B (government-administered outpatient, doctors' visits, etc.) costs $110.50 per month in 2010 and 2011, or Medicare Part C (Medicare Advantage Plans, run by private insurance companies) costs $110.50 and up. Medicare beneficiaries may choose either Part B or Part C or neither, but not both. Medicare Part D (government-subsidized drug benefit) costs vary from less than $20 per month to $130 per month or more, depending on coverage offered. Many Medicare Advantage Plans provide at least some drug coverage. If you decide to carry Medicare Parts B, C, or D, the monthly premium(s) is/are deducted from your benefit check. Many low-income individuals qualify for government subsidies to pay part or all of Parts B and D coverage.
They are called Transfer Payments
Social security payments may be made to dependent children until they are 18. true
The self-employed and workers in covered occupations (nearly all of them) plus the employers of the workers.
For most persons, Medicare Part A (Hospital Insurance Benefits, or HIB) is free. Medicare Part B (Supplemental Medical Insurance Benefits, or SMIB) premiums are typically ded…ucted from one's Social Security benefits.