What is wrong with you People that you want to go back in time when Living was so hard in this Country that most People suffered and died painful deaths at an early age? WHAT IS WRONG WITH YOU?<quoted text>
C'mon. Pete. You KNOW that's what's going to happen. The original Social Security bears little resemblance to today's SS.
The Social Security Act was signed into law by President Roosevelt on August 14, 1935. In addition to several provisions for general welfare, the new Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement. Most women and minorities were excluded from the benefits of Social Security. Job categories that were not covered by the act included workers in agricultural labor, domestic service, government employees, and many teachers, nurses, hospital employees, librarians, and social workers. The act also denied coverage to individuals who worked intermittently. In its early days, these exclusions exempted nearly half of the working population from benefiting from Social Security.
From 1937 until 1940, Social Security paid benefits in the form of a single, lump-sum payment. The purpose of these one-time payments was to provide some "payback" to those people who contributed to the program but would not participate long enough to be vested for monthly benefits.
In 1939, Social Security was modified to add benefits to the spouse or minor children of a retired worker. It also added a survivor’s benefit, paid to the family in the event of the premature death of a covered worker.
The payment of monthly benefits was accelerated to begin in 1940 rather than 1942. Interestingly, the first monthly retirement check was issued to an individual who had paid a total of $22.54 into the system and received $22,000 in benefits over her lifetime!
The next significant change to the SSA occurred in 1950, when the first cost of living adjustment (COLA) was added the program.
In 1961, the retirement age for men was reduced to 62, with a reduced monthly benefit for those choosing to retire early. Several major changes to Social Security occurred with the 1972 amendment: automatic COLAs were instituted, a minimum monthly benefit was established, monthly benefits were significantly increased to those individuals waiting until age 65 to retire, and a system for automatic increases in the amount of earnings subject to Social Security taxation was developed.
So now we have a system that is paid for by today's workers, since the "lockbox" is now fiction, and there are more people retiring and living longer than we have young workers. And today's workers are lazier, earn far less, are less motivated, than the worker of yesteryear. Add to that drugs, free stuff paid for by the government, and government's insatiable thirst for providing services to the populace, and you have an unsustainable system.
And now we've put it in charge of one seventh of the economy.
The real fraud is that we've convinced a huge portion of our population that the rich can afford to pay for all of this.
We can hope that this won't end up like Social Security, but history shows that it will.
And our populace has changed from a nations of doers to a nation of takers. Perhaps we can "hope" that the takers will change into doers?
If you hate your Life that much, then CHANGE IT! I don't know where you get the idea that those days were all Milk and Honey, THEY WERE NOT!
You need to watch some Doumentaries about Life "back then", listen to some elderly People, who listened to their Parents and Grandparents tell about what Life was really like "back then"! But, most of all, you need to listen to other People of the generation before you because they have a wealth of information to help you. You don't know it all, in fact you know NOTHING about Life "back then" and you refuse to learn. Otherwise, none of you would want to go back in time, it would scare you to death!