Celebrating Social Security and Building on Its Proven Success

A group of diverse people join hands in cooperation.Social Security has transformed the nation. Before its enactment, growing old was something to be feared.  People worked as long as they could, but when they grew old or became disabled, they invariably lost their jobs and had no choice but to move in with their children. If that was impossible, they literally went to the poorhouse.  At the time Social Security was enacted, every state but New Mexico had poorhouses. The vast majority of poorhouse residents had once been independent workers.  Also, when wage earners died, there was often insufficient income for children to remain with their widowed parents and siblings.But Social Security has changed all of that.  Today, the wages and salaries of nearly all workers are insured by Social Security against loss as the result of death, disability, or old age.  Retirees, widow(er)s, children who have lost parents, our soldiers wounded in combat, and other working Americans who have become disabled are among the nearly 60 million beneficiaries who receive Social Security’s guaranteed, monthly income.

Social Security works so well and is so popular because it embodies the best of American and religious values — rewarding hard work, taking responsibility for ourselves and our families, honoring our parents, caring for our neighbors, and managing our resources prudently and responsibly.  By law, Social Security cannot pay benefits unless it has sufficient income to cover all costs — without a penny of borrowing.  According to the most recent Trustees Report, Social Security ran a surplus of $25 billion last year alone and has an accumulated surplus of $2.8 trillion.

Thanks to dedicated, hard-working civil servants, Social Security is extremely efficient.  It spends less than one penny of every dollar on administration.  The rest is paid in benefits.  It is also extremely affordable.  Social Security’s actuaries project that at the end of this century, it will cost only 6.2 percent of Gross Domestic Product, a much lower percentage than what many other countries pay on their counterpart Social Security programs today.  It is 95 percent funded over the next 25 years; 88 percent funded over the next fifty years.

Its one shortcoming is that its benefits are extremely modest by virtually any measure.   That is why a growing number of elected leaders and Social Security experts are proposing plans to expand those modest benefits, while ensuring that all benefits can be paid over the long term.  As the wealthiest nation in the world, at the wealthiest moment in our history, we can certainly afford to expand Social Security’s modest benefits.

Whether we, as a nation, decide to expand Social Security’s benefits, keep them at their scheduled levels, or cut them is most definitely not a matter of affordability.  Rather, that choice is a matter of values and priorities.

Note: In honor of Labor Day, we have invited Maya MacGuineas and Nancy Altman as  guest bloggers on Social Security Matters.  We thank them for taking the time to share their narratives with our followers and allowing us to showcase the diversity of individuals in support of Social Security on this important holidayHave a wonderful Labor Day Weekend!


43 thoughts on “Celebrating Social Security and Building on Its Proven Success

  1. Please send me a record of my wages. you have record of. The last one I saw did not include a bunch of wages and I have been at the social security max for years.

    • Hello Robert! You can access your latest earnings record online at any time by creating a my Social Security account. With a my Social Security account, you can also review estimates of your retirement, disability, and survivors benefits and the estimated Social Security and Medicare taxes you’ve paid. To make corrections on your earnings record, you will need to contact your local office.

  2. What is the percentage of income someone would get from Social Security at time of retirement if that person paid social security for 30 years and have a 10 years pension from a private compamy? Thanks for your time.

    • Good question Jean! If you have average earnings, your Social Security retirement benefits will replace only about 40 percent, and you’ll need to supplement your benefits with a pension, savings or investments.
      For retirement benefits, we use the highest 35 years of earnings to compute your benefit amount. If you do not have 35 years of earnings, we will use all of the earnings on your record and factor in $0.00 earnings for each of the remaining years. The earliest a person can start receiving Social Security retirement benefits is age 62, but if you start receiving retirement benefits at age 62, you will only get 75% of the full retirement benefit amount. To help you plan for the future, you can use our Retirement Planner and you can also create a my Social Security account to verify your earnings, get your Social Security Statement, and much more.
      We hope this information helps!

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  3. Not to sound negative but I also don’t understand why there is a deficit in the social security fund – but a question I have is when is the social security fund going to stop being used for purposes other than social security? I believe I read that started years ago (was it by Lyndon B Johnson?) with the promise that it would all be paid back to social security and as I understand it that has not happened. Give the money back and I am sure there will be billions of dollars in surplus that should have been there all along..

    • A couple of points. First there is no pot of money that is available to pay out to SS beneficiaries. The money collected is immediately loaned to the federal government. I don’t know at what rate but I bet the interest rate is low. While there is a surplus in terms of IOU’s from the federal government, when it comes to repaying the debt watch for taxpayers and Congress work for ways to negate on the promise. Second, the rate of return on your SS contributions is about 1% assuming you live long enough to get payments. Republicans wanted to change this low return by allowing, not requiring, SS payers to put the money in a separate account and invest it in safe investments. Unions and Democrats did not like this idea as it would cut off the low interest loans SS makes to them.

      • Corrupt CONgress and the Adminstration don’t mind using our tax dollars to bailout banks and Wall St. Corruption- or endless wars for Big Oil ! INCREASE SS and Medicare and see that Americans have a decent life till they die!

    • Lori, Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest. Please check out our Trust Fund Frequently Asked Questions page for more information.

  4. Nancy Altman’s report on Social Security Matters says Social Security ran a surplus of $25 Billion last year and Maya MacGuiness’ report Protecting Social Security for Future Generations says there are $75 Billion in deficits this year. Which is it? Looks like somebody took $100 Billion !!!


  5. Expand social security, make it untouchable for funding anything else and please repeal the wep/gpo theft of social security benefits from state and federal employees.

  6. I retired this May 2015 and find myself living check by check!!! I grossed $2400.00. Per month and now I get $1212.00!!! $1178.00 less per month…
    How can I live on less than half my income… Who takes the time to see if the person can stay at the cost of living that they have earned and lived on!!..
    It’s not fair nor equal…I’ll eventually will have to see where I can survive. How demoralizing !!! Yet the rich get richer, and everyone else has to beg to live on.. It’s becoming a land of opportunity for illegals , we the people of the United States are pushed aside so as to use our countries’ riches for other countries!
    TAKE CARE OF ALL OUR OWN …. FIRST!!!! All other countries protect invasions into their countries first!
    Help our country first…. We are being taken advantage of…

    • Had you worked at a job that provided a pension you would be getting twice with SS and a pension. I made sure I had a job that provided us the opportunity to have money taken out and they matched that money, so we could have a pension after we retired.

    • To blame the illegals for your trouble is wrong. It sounds that you did not anticipate your retirement or made plans how to survive. It just stupid to expect the government to take care of you when you retire , the government does not have any money it only distributes the money it takes from us the hard workers of America. SSI ITS only a supplemental income, that problem is many people are expecting to survive of SSI. Besides too many people are scamming the system and even politician are in the scam. depleting a Fund that if is left alone could be and is self sufficient fund.

  7. Please stop giving money to healthy people under age 65 (fraudulent claims that are too easily approved)!
    Please stop sending money to dead people (recipients pocket it)!

    • Yeah, I have seen those people on disability that do drugs. However, I am completely disabled. I would love to work and feel complete again. I applied, but was denied twice after years of fighting. You should think of all the people like me that are in constant pain and debilitating weakness that get denied! Social Security should be ashamed of itself! I have three kids and was sole breadwinner until I fell ill. Now what am I supposed to do? The doctors said I was disabled, my state said I was disabled, the person that’s supposed to find a suitable job in the hearing couldn’t find one. What was this judge’s ruling based on? Not evidence!

  8. The author of this blog is out of touch with the real world. Please feel free to live with me and my husband for one month or just one week. I hope no disabling injury befalls you or yours. Of course, they have you to help them. I have PTSD. The SSA doctors are sadly lacking in PTSD pathophysiology knowledge and too inept to go to PubMed. How do they earn their CEIs? At the pharmaceutical company’s seminar in Las Vegas, Nevada? I am frustrated.

  9. Norma most people receiving social would like to have earned $2400 as a paycheck, I never earned it and Ive have been on it for 16 yrs. No one gets full pay from social that I know of.

  10. AvatarJannet Guillen ; Fought For, 5yr's Denied Twice ? worked My whole. Life, They Tax , Me to death + Dr. Bill's . ? we're Herendend's, Dr cut My Stomach By Mistake . Fell, Post Up On A defective. stool , Collasped For Disk , after , Years Off , Therapy + on said:

    I Pray Thing’s , Will , Return . Too Normal? I pay My Dues, I worked, My , Whole Life, This , Was Done . too Me ; She it was ; Elective, Surgery? I Did , Not , Elect, Too , Be , Treat , Like , Guinion, Pig !!! i’n Jesus Name : I Pray Thank- You Jannet V Guillen

  11. It’s very much a matter of affordability. Social security’s funding shortfall is real, but it’s not a crisis, and it is fixable if both sides are willing to compromise. The disability portion has a serious problem. It’s quadrupled in 10 years, largely driven by liberals who have used it to reverse much of Bill Clinton’s welfare reform–welfare by another name. Social security’s funding problems are tiny compared to the giant problems faced by Medicare and Medicaid. They are the 800 pound gorillas that threaten to consume the federal budget and drive down all other social spending.

  12. Hi, everybody:
    In really the work inside the Social Security Administration, Field Offices, it’s more important for the people more vulnerable in our society. They need
    your more carefully attention a their problem and necessity day over day. Our society in full know your effort to improve your service for all people in general.

  13. It’s sad to know that we all question
    Our government about our security in getting a social security check every month. Our country owes so much money.
    I understand our dollar is week. We can not pay our notes on money we have borrowers from other countries.
    Now we the Seniors live in & on Our hard earned Social Security that we have paid in every paycheck all our life . Fear does hit many in the area of , ” what will happen if the Govt we let borrow from our social security fund does not pay it back?
    Who answers to who?
    This blog says we are the rich.
    This blog says we need to increase benifits with our social security fund.
    I say NO.
    Let’s be secure and stable in this fund. Let’s stop spending money and borrowing money to give away.
    Let’s take care of our own people me just for five years. Let’s vote for a strong leader to STOP borrowing and start paying back what is due in our social security fund. The govt thinks we are old have have No voice.
    We need to get on our knees and pray about this people.
    Let’s get God back in our country and he will bless it and help us.

  14. I get $1488 a month from SS and it’s not much, but I also get money from a private pension, so that adds up the total to close to $3,000 a month. I am happy, but I have to keep a tight budget or not have enough since I refuse to use any of my savings right now. I manage to put away $500 a month into my savings, so that is money is for a rainy day only.

  15. How about stopping the 20-35 yr olds that are claimi g disability??? It’s rediculius. I suffer from many severe chronic health conditions. At the time i filed for disabiluty with ann atty representing me, it took several times of going to social security doctors which never ever did all the testing of my health that had accumulated through the yrs. Finally after 2 appeals it went to tge ss jydge which i was thankful for. Then i had to contact my congressman to light a match under the judge’s rear end. Finally after 2 1/2 yrs i was approved at 100% disabled. Nowadays you have to prove noy
    Thing to ss to get approved. And they talk abbout ss going broke. Give me a break!!!

  16. Social Security Amendment of 2016

    Free Disability Insurance Reallocation Tax (DIRT) Act

    To immediately amend the DI tax rate from 1.80% to 2.30%, from 0.90% to 1.15% for employees and from 0.90% to 1.15% for employers under Sec. 201(b)(1)(S) of the Social Security Act 42USC(7)II§401 and amend the OASI tax rate from 10.60% to 10.10%, from 5.30% to 5.05% for employees under 26USC(C)(21)(A)§3101 (a) and from 5.30% to 5.05% for employers under 26USC(C)(21)(A)§3111 (a) to avoid depletion of the Disability Insurance (DI) Trust Fund in 2016 without increasing the overall 12.4% OASDI or 15.3% OASDI and Hospital Insurance (HI) tax-rate under 26USC(A)(2)§1401 beginning October 1, 2015.

    To amend the DI tax rate again in 2018 to 2.20% from 2.30%, from 1.15% to 1.10% for employees and from 1.15% to 1.10% for employers under Sec. 201(b)(1)(S) of the Social Security Act 42USC(7)II§401 and amend the OASI tax rate from 10.10% to 10.20%, from 5.05% to 5.10% for employees under 26USC(C)(21)(A)§3101 (a) and from 5.05% to 5.10% for employers under 26USC(C)(21)(A)§3111 (a) without increasing the overall 12.4% OASDI or 15.3% OASDI and Hospital Insurance (HI) tax-rate under 26USC(A)(2)§1401 to maximize efficiency until a deficit appears in the OASI Trust Fund in 2019.

    Without Income Limit Law (WILL) Act

    To abolish the maximum taxable limit on DI contributions on January 1, 2016 and OASI contributions January 1, 2017 and repeal Adjustment of the contribution and benefit base Section 230 of the Social Security Act 42USC(7)§430.

    To require the Social Security Administration to pay for SSI Costs beginning January 1, 2017.

    To share profits in excess of social security program costs to the general fund of the U.S Treasury on a sliding scale beginning year end 2016 DI 50/50 with the USPS, and OASI 10/90 to eliminate the federal budget deficit. In 2020 OASI would share at negotiated rates an estimated 25/75, by 2025 OASDI would share 50/50 and by 2030 OASDI would save to pay for the peak in costs of Baby Boomer generation in 2035 that might raise the overall OASDI tax rate from 12.4%.

    Now hiring SSA Actuaries for more and less than $118,500 a year. “Tax evasion” is typically used in the criminal context, as in someone who is charged with the crime of tax evasion in violation of 26 USC § 7201. Tax evasion usually entails a deliberate act of misrepresentation of taxable income to the IRS. Common examples of acts which could result in a charge of tax evasion are: not declaring all your income, deliberately overstating expenses or deductions, or failing to file tax returns when you have taxable income in an attempt to avoid detection. Attempt to evade or defeat tax 26USC§7201 occurs when; Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution. Tax fraud is a general term which can trigger many different laws found in Title 26 (the Internal Revenue Code) and Title 18 of the United States Code (or “USC”). The core distinguishing feature of tax fraud is a taxpayer’s intent to defraud the government by not paying taxes that he knows are lawfully due. Tax fraud can be punishable by both civil (i.e. money) and criminal (i.e. jail time and money) penalties, with the civil violations primarily in Title 26 and the criminal violations principally in Title 18, respectively, of the USC. For example, a taxpayer can commit tax fraud and be punished with civil penalties under 26 USC § 6663, without being charged with criminal tax evasion. (a) Imposition of penalty; If any part of any underpayment of tax required to be shown on a return is due to fraud, there shall be added to the tax an amount equal to 75 percent of the portion of the underpayment which is attributable to fraud. Tax evasion becomes law on October 1, 2016 when the Actuary will be presumed to have evaded the Free DIRT Act 2.3% DI rate and 10.1% OASI rate because he pleads to be as immune to FDR’s pain the OASDI tax rate reallocation as Congress or the Harvard stool pigeon making me panic and consider filing for medical leave from
    Social Security Matter before October 1.

    The hail made Harvard’s intimate association with the hydrocarbon heating and now cooling pumps all-right. Its too bad Nancy Altman is unable to squash her egotistical plan she published in her disability discriminating optimistic book in in her completely independent lobbying of our legislature. I hope her conflict of interest conviction for publicly and officially acting the fool in regards to Social Security is not as disastrous as the Harvard lawyer who lost both his jobs for city council and the law college incidental to playing the fool on the television News in regards to the capture of a hydrocarbon heating pump by the BRAC Commission and me – the regulator. He might actually be a Harvard graduate on disability insurance whose book on social security we might want to legislate because it is right due to his long tenure with SSA. You see not only am I actually paid the number of the beast by disability insurance from age 30 or so but I hold the true federal budget and may need to recalculate the DI rate from 2.3% to maybe 2.4% if the Actuary actually falls through the thin ice and cuts DI benefits because his negligence has resulted in the depletion of the DI trust fund. For their part, SSA and even Social Security Matters do not explain what “law” prevents them from defending their bosses from tax evasion charges .26 USC § 6663 and the true SSA Actuary and Annual Report become held by HA like the HA impersonating federal budget itself. This is not any reason for the United States to plead any corrupt advantage against the Chinese economy because there is no denying the United States credit history is far better than the accountants they pay ten or twenty-five times more than the HA accountant their entire high level federal career discriminated against at a OMB quantified civil defense of social allowance in excess of 100 billion times zero dollars a year. More than enough accounting fraud for the rich to avoid paying taxes to such a tax fraud. Provided I am not speaking like a fool right now I’ll be paying taxes on dividends next year. Maybe I’ll be able to access my Social Security account online then, but I don’t think it’s enough income.

    RE: Health and Welfare. 9th Ed. Hospitals & Asylums. HA-26-7-15 http://www.title24uscode.org/haw.htm

  17. You speak of extending social security benefits completely ignoring that the social security system will be bankrupt in a few years since revenue income does not match payouts. Are you blind to this fact and just continue to support a failed system? How do you propose to make the system pay for itself? What is the fix…….you are in charge, admit defeat anf at least study and propose fixes.

  18. Hi I have a question that no one seems to be able to answer. I’m on disability & supplemental security income, my dad whom lived in another state was also on Disability & I’m not sure if he received supplemental security income or not. I’m just wondering if there is any money I may qualify for because of his untimely death? Thank You so much.

    • We are sorry for the loss of your father Jessica, but you ask a very good question. The Supplemental Security Income (SSI) benefit is only payable to the disabled individual, there are no children’s or survivors benefits payable. If your father was collecting benefits under the regular disability program (Social Security Disability Insurance – SSDI), you may be eligible for benefits as a “Disabled Adult Child”. However, your disability must have started before age 22 and you must meet other requirements. For specific questions and to check if you qualify for additional benefits contact your local office, or call our toll-free number at 1-800-772-1213. Representatives are available between 7 a.m. and 7 p.m., Monday through Friday but you will generally have a shorter wait time if you call later in the week. Thanks!

  19. If Social Security is so effective, then why is everyone being denied? I am in terrible pain and disability, the doctors even tried to help. The doctors told me I would never be able to work again. Why was I denied when I haven’t been able to work for three years? I have three children to support with no help and am getting ready to lose my home. My state has granted me disability medicaid and says I am 100% disabled within three months. I fought Social Security for years. You should be ashamed of yourself for even pretending that you are helping people. I paid in for decades, am completely unable to work, yet !am denied. What a joke

  20. Question? How secure is sending my credit card number and info for payment of my medicare premium on the form provided by Medicare?
    Thank you.
    Sharon Donovan

  21. Social Security is something really plays an important role, first in the form of whose you work their entire life serving the country by doing their work and second when some unfortunate death of financial responsible happened in both cases and many others it is crucial that we support them!
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  22. I would suggest you to stop giving money to healthy people under age 65 as there are many fraudulent claims that are too easily approved.

    Social security is an important aspect and should be focused on those who are meaningful to our society.
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  23. Nowadays Social Security is very important. I need this for my entire life especially when I will be work and rest in the house or my office with a recliner chair and sleep on with the reading books. My favorite site is: http://bestofoffice.com/

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