Social security quiz.02152011

Social Security Quiz

Adapted with permission from materials prepared by Lisa Tilson, Florida SEIU S/SW Retiree Coordinator

Social Security only benefits older people

– True

– False

What was the most immediate, sustained and generous support for the families of the victims of 9/11?

– The Red Cross

– Social Security

– The Salvation Army

Social Security has never done anything for me.

--True

--False

Social Security is just a bunch of worthless IOU’s

– True

– False

• Social Security is going bankrupt

– True

– False

• Social Security is a welfare program

– True

– False

• Social Security is an American invention

– True

– False

Before Social Security, older people

– Lived with their children

– Homeless

– Well-off did what they wanted

– Poorhouse

– None of the above

– All of the above

Social Security contributes to the deficit

– True

– False

Social Security should be means tested

– Yes

– No

The average Social Security retired worker beneficiary receives about $1500 each month

-- True

-- False

Working Americans pay the FICA payroll tax on all of the money they earn.

-- True

-- False

The nation cannot afford to keep providing the same of Social Security benefits for future beneficiaries as it does for today’s beneficiaries

-- True

-- False

AnswersFalse that it benefits only older people. 54 million beneficiaries – 37 million retired workers & dependents; 6 million survivors, 10 million disabled workers & dependents. (Includes 4.4 million children)

9/11 -- Social Security – employees at the Social Security Administration worked around the clock to determine who was eligibility. Checks began to arrive in about 30 days.

In almost all cases, SS protected you from the day you were born

False. Social Security is backed by US Treasury Bonds, and full “faith and credit” of the US Government

Social Security is not going bankrupt. Can meet all obligations through 2036 and, even if Congress does nothing, 75% after that.

AnswersNot a welfare program. Social insurance is a form of wage insurance. Adequacy and equity both important.

Social Security is NOT an American invention. The concept of a government run retirement pension originated in Germany, but the Social Security, as we know it is as American as apple pie.

Before Social Security, older people… All of the above. Before 1940 (when the first SS check was mailed), over 50% of American seniors lived in poverty. Today the number is close to 10%.

Social Security does not contribute one DIME to the deficit.

Means testing would destroy political support for SS and would not provide any significant savings unless benefits taken from many middle income people

AnswersFalse. Average monthly benefit for retired workers = $1200

Only pay FICA payroll tax contributions on earnings up to $106,800

Affordability. Modest benefits. Relatively modest change need –could scrap the cap or could redirect Bush tax cuts to top 2% of earners.