PFRDA

Which of the following is not part of the social security program?

Federal Income Tax Law b. Federal Old-Age and Survivors' Trust Fund c. Medicare d. Self-Employment Contributions Act e. All are part of the social security program

Public Comments

1. c...
2. I think it's d. Self-Employment Contributions Act These are my notes from Government class about these sort of topics: Social Welfare Policy: Means tested spending: spending for benefits that is distributed on the basis of the recipient’s income COLAs: Annual cost-of-living adjustments mandated by law in Social Security and other welfare benefits http://www.aarp.org/about_aarp/ http://www.youtube.com/watch?v=RGvkZszS21Y&feature=related •Welfare programs oSocial insurance oPublic assistance •Entitlements: Any social welfare program for which there are eligibility requirements, whether financial or contributory •Social security: Social insurance program composed of the Old Age and Survivors Insurance program, which pays benefits to retired workers who have paid into the program and their dependents and survivors, and the Disability Insurance program, which pays benefits to disabled workers and their families oLargest of all entitlements oOld Age and Survivors Insurance program oDisability Insurance program •Unemployment compensation: Social insurance program that temporarily replaces part of the wages of workers who have lost their jobs •Supplemental security incomes (SSI): Public assistance program that provides monthly cash payments to the needy elderly (65 or older), blind, and disabled •Family assistance: public assistance program that provides monies to the states for their use in helping needy families with children oTemporary Assistance to Needy Families oThe states assist needy families oFood Stamp program: provides low-income households with coupons redeemable for enough food to provide a minimal nutritious diet oEarned Income Tax Credit (EITC): designed to assist the working poor, refunds in excess of their payroll taxes oMedicaid •Joint federal-state program providing health services to low-income Americans Direct and Transfer payments: direct payments (either in cash or in goods and/or services) by governments to individuals as part of a social welfare program, not as a result of any service or contribution rendered by the individual. •60% of all federal government outlays poverty line: official standard regarding what level of annual cash income is sufficient to maintain a decent standard of living; those with incomes below this level are eligible for most public assistance programs. •what is required to maintain a decent standard of living •1 in 8 Americans have incomes that fall below the poverty line •only a little more than 1/3 of the median income of all American families •most poverty is not long-term Means-tested spending: spending for benefits that is distributed on the basis of the recipient’s income Underclass: people who have remained poor and dependent on welfare over a prolonged period of time. •Prolonged poverty and welfare dependency Senior Power: •Higher rates of voting, more power Dependency Ratio: in the social security system, the number of recipients as a percentage of the number of contributing workers. •Two workers for every 1 retiree Health Care •Managed care programs •Deductibles •Preferred provider organizations (PPOs) (think dylan’s insurance, co-pay) •Health maintenance organizations •Medicare oHelps elderly and disabled people pay acute care (as opposed to long-term-care) health costs. Health Care Reform •Controlling costs, and expanding care •Liberals seek a Canadian-style •Mandated employer-based plans