Both Uses of
Social Security
in
Freakonomics
- Instead of merely listing the name of each dependent child, tax filers were now required to provide a Social Security number.†
p. 22.3 *
- While this may have been scary news in terms of Medicare and Social Security, the average American had little to fear from the growing horde of oldsters.†
p. 136.1
Definition:
generally thought of as the U.S. retirement income that is funded through payroll taxes (though social security legislation includes many other programs that provide a safety net for Americans)
In addition to retirement benefits, Social Security offers unemployment insurance, and assistance for dependents and the blind (now disability in general). In 1965, medical benefits were added through Medicare legislation and in 2003, prescription drug benefits were added.