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One of the most important flaws of the social security act is that you have a maximum amount you can earn without penalty if you begin drawing your social security before your reach full retirement age. Why does the government want to penalize a person for earning more than the maximum amount allowed when, in fact, the more a person earns the more he will pay into social security. With the threat of social security going broke, you would think the government would encourage an early retiree to go back to work and earn as much as they want in order to put more into the social security fund.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoI'm not aware of any problems with the original Social Security Act of 1935. It provided income for disabled and retired workers and their dependents - currently, 40% of the income of persons aged 65+ comes from SSA - temporary income for unemployed persons, and a minimum income for indigent persons who met other eligibility requirements such as age. It was one of the best pieces of legislation in the US in the 20th Century.
Over the years, unemployment insurance benefits have been routinely extended during recessions, which has required the use of tax funds. The Social Security retirement program has developed actuarial problems due to factors such as increasing life spans, decreasing numbers of wage earners making contributions to the system and lowering the age of eligibility from 65 to 62.
Wiki User
∙ 12y agoIt did not apply to domestics or farmworkers at first.
Wiki User
∙ 13y agoIt didn't allow people to eat toast.
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What is an act created by the bureaucrats that is still in effect today?
social security act
Which New Deal program provided monthley pensions for retired people?
Answer social security act
What was the Readjustment Benefits Act?
It was under the Clinton administration. It gave term limits on how much social security welfare one person could be given at one time. It in other words made a limit on how much social security one person could get.
The provided monthly pensions for retired people?
The Social Security Act is what provided monthly pensions for retired people. It was a tax created in 1930 for employers and employees.
The national security act of 1947 forbids the CIA to?
The National Security Act of 1947 forbids the CIA from conducting domestic surveillance. The act was signed into law by President Harry S. Truman.
What was the significant flaw of of the social security act?
It didn't allow people to eat toast.
When was social security act made?
The Social Security Act of 1935 was made August 14,1935
What law signed by President Roosevelt was influenced by the Townsend Plan?
he responded to it by supporting the social security act
What is the abriveation for the social security act?
The Social Security Act is known as SSA; those are also the initials for the agency that administers it, the Social Security Administration.
What was the social security act?
no
Which act helped to establish basic welfare and insurance programs?
It's the one about social security Social Security Act :)
How do you find where someone is employed using their social security number?
You do not. Use of the Social Security number is the exclusive venue of the Social Security Administration as established by the Social Security Act.
How did farmers of the social security act see it as?
as the misouri act
What was The Act that provided for old age pensions and unemployment insurance?
Well, to answer this question that fits into my worksheet, it is "Social security."
What was Eisenhower's most significant domestic development?
Democrats controlled both houses of Congress.
What act created a tax on workers and employers?
Social Security Act
What is the most significant social legislation passed by the us?
what was the most significant social legislation passed by any congress in the history of the US?
