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encompasses several social welfare and social insurance programs.

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Tax deposits are collected by the Internal Revenue Service (IRS) and are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, the two Social Security Trust Funds.

With a few exceptions, all salaried income, up to an amount specifically determined by law (see tax rate table below), is subject to the Social Security payroll tax. In 2017, the maximum amount of taxable earnings was $127,200.

Sources: Social Security Administration A limited form of the Social Security program began, during President Franklin D.

Roosevelt's first term, as a measure to implement "social insurance" during the Great Depression of the 1930s, when poverty rates among senior citizens exceeded 50 percent.

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It’s more than just a greeting card, it’s handmade art you share with someone special. I loved the finished product so much that I even purchased the beautiful Blossom Collection for myself. ), or display the finished cards as beautiful artwork.” Easy Cut Pop-up™ Kirigami patterns are downloadable PDFs and require 2-3 sheets of card-stock paper." The provisions of Social Security have been changing since the 1930s, shifting in response to economic worries as well as coverage for the poor, dependent children, spouses, survivors and the disabled. To prevent Social Security from losing tax revenue during the reduced Social Security worker 2.0% tax rate reduction in 20, Congress borrowed money from the federal general tax fund and transferred it to the Social Security trust funds.Sources: Social Security Administration, The largest component of OASDI is the payment of retirement benefits.The Act was an attempt to limit unforeseen and unprepared for dangers in the modern life, including old age, disability, poverty, unemployment, and the burdens of widow(er)s with and without children.Opponents, however, decried the proposal as socialism.In a Senate Finance Committee hearing, Senator Thomas Gore (D-OK) asked Secretary of Labor Frances Perkins, "Isn't this socialism?

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