human
Write a summary relating to American social security policy evaluation summary examines the need for the program, its design, implementation, and outcomes.
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The American social security policy evaluation essay examines the need for the program, its design, implementation, and outcomes. The author concludes that the policy is not without its flaws but that it does help many retired families stay above the poverty line. The American social security policy evaluation essay examines the need for the program, its design, implementation, and outcomes. The author concludes that the policy is not without its flaws but that it does help many retired families stay above the poverty line.
human
essay based on the summary above. End with the sentence 'However, the confidence in the future and poverty protection the policy gives to insecure populations characterizes it positively and explains the need for its existence.'
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##The Need for the Program
Protection of vulnerable populations is one of the key agendas in the welfare state to which the U.##S. aspires. After 65 years of age, a person’s physical and mental capabilities usually dwindle so that self-sufficiency of such individuals also diminishes. Due to the fact, that most of their lives, they contributed meaningfully to the state’s economy, social life, and other aspects of citizenship, the nation protects them when they are no longer capable of contributing by labor (Kitao, 2014). Thus, social justice seems to substantiate the need for social security policy.
##Program Design
The design of the social security policy seems to be not without its flaws. As such, Konish (2018) argues that the funds of social security could be used more effectively if its design allows for more liberal investment policy. In Canada, for instance, social security funds are used to finance assets and gain profits from such an activity. In addition, there are accounts of private pension funds lacking liquidity for servicing current liabilities due to financial mismanagement. Thus, the issue of control and degree to which the freedom of fund usage should be allowed persists with the social security policy.
##Program Implementation
Implementation of the program also seems to be problematic in certain aspects. ##Siedle (2013) suggests that among Americans nearing pension age, there are 75% of those who have less than $30,000 in savings under the retirement plan. It appears that there persists an insufficiency in funding as the percentage of the aging population grows. ##Social security numbers that are used in the system of individual identification are also subject to fraudulent schemes and theft. Actions of criminals caused misfortune to thousands of stakeholders and millions of dollars in damage (Van Vlasselaer, Eliassi-Rad, Akoglu, ##Snoeck, & Baesens, 2016). Therefore, the implementation domain requires intervention as well.
##Program Outcomes
With all its flaws, the social security policy helps many retired families stay above the poverty line. Kitao (2014) argues that pension programs and disability insurances allow citizens to have increased confidence in the future. Yet, there is also a controversy of the uneven nature of collection and distribution, which increases social segregation (Kostøl & Mogstad, 2011). While this is indeed a threatening concern, without social security, vulnerable populations would be more likely to lead poor lives.
##Program Efficiency
About 68 million people in the U.##S. receive material help under the policy, the majority of whom are elderly (##Social ##Security Administration, 2019). According to Romig (2018), thanks to social security, the poverty rates among pension-age individuals reduced by 40% and in all ages combined by almost 20%. People of color, low wage earners, disabled and other populations insecure in one or another way, have a chance to lead normal lives thanks to governmental protection.
##Conclusion
Overall, the social security policy seems to have a strong impact on the economy and social life in the U.##S. Evaluation of this social intervention demonstrated certain issues such as fraud protection, fund usage, tax collection equality that need addressing. However, the confidence in the future and poverty protection the policy gives to insecure populations characterizes it positively and explains the need for its existence.