Question

Explain the concept of social security (10 lines)

Answer 1

Social Security is the foundation of economic security for millions of Americans—retirees, disabled persons, and families of retired, disabled or deceased workers. About 169 million Americans pay Social Security taxes and 61 million collect monthly benefits. The Social Security Act and related laws establish a number of programs that have the following basic purposes: To provide for the material needs of individuals and families; To protect aged and disabled persons against the expenses of illnesses that may otherwise use up their savings; To keep families together.