Social security quiz.02152011


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Social security quiz.02152011

  1. 1. Social Security Quiz<br />Adapted with permission from materials prepared by Lisa Tilson, Florida SEIU S/SW Retiree Coordinator<br />
  2. 2. Social Security only benefits older people<br />True <br />False<br />
  3. 3. What was the most immediate, sustained and generous support for the families of the victims of 9/11?<br />The Red Cross<br />Social Security<br />The Salvation Army<br />
  4. 4. Social Security has never done anything for me.<br /> --True<br />--False<br />
  5. 5. Social Security is just a bunch of worthless IOU’s<br />True <br />False<br />
  6. 6. Social Security is going bankrupt<br />True<br />False<br />
  7. 7. Social Security is a welfare program<br />True<br />False<br />
  8. 8. Social Security is an American invention<br />True<br />False<br />
  9. 9. Before Social Security, older people<br />Lived with their children<br />Homeless<br />Well-off did what they wanted<br />Poorhouse<br />None of the above<br />All of the above<br />
  10. 10. Social Security contributes to the deficit<br />True<br />False<br />
  11. 11. Social Security should be means tested<br />Yes<br />No<br />
  12. 12. The average Social Security retired worker beneficiary receives about $1500 each month<br />-- True<br />-- False<br />
  13. 13. Working Americans pay the FICA payroll tax on all of the money they earn.<br /> -- True<br />-- False<br />
  14. 14. The nation cannot afford to keep providing the same of Social Security benefits for future beneficiaries as it does for today’s beneficiaries<br /> -- True<br /> -- False<br />
  15. 15. Answers<br />False 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)<br />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.<br />In almost all cases, SS protected you from the day you were born<br />False. Social Security is backed by US Treasury Bonds, and full “faith and credit” of the US Government<br />Social Security is not going bankrupt. Can meet all obligations through 2036 and, even if Congress does nothing, 75% after that.<br />
  16. 16. Answers<br />Not a welfare program. Social insurance is a form of wage insurance. Adequacy and equity both important.<br />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.<br />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%.<br />Social Security does not contribute one DIME to the deficit.<br />Means testing would destroy political support for SS and would not provide any significant savings unless benefits taken from many middle income people<br />
  17. 17. Answers<br />False. Average monthly benefit for retired workers = $1200<br />Only pay FICA payroll tax contributions on earnings up to $106,800<br />Affordability. Modest benefits. Relatively modest change need – could scrap the cap or could redirect Bush tax cuts to top 2% of earners.<br />