Your Social Security 1940 US Federal Security Agency (HEW)

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• published: 27 Jan 2015
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more at http://quickfound.net 'Explains how SS, survivors' insurance and other benefit systems work, focuses on the helpful SS workers, strongly encourages workers to file for their SS cards; also shows some of the inner workings of the giant system... [we are told by the narrator that the cost of Social Security is one and a half percent of your salary] Stock shots: Social Security card, Social Security Claims worker Old people looking hopeless; Franklin Roosevelt signing Social Security Act; Harry Truman: signing 1950 Act; old people puttering around the house, happily; animation of old people also mailman; widows and orphans montage of street scenes and many kinds of jobs; construction jobs; house painting; grocery stores; farmworker; household worker; good shots: typing; switchboard operator; Candler Building in Baltimore MD (HQ of Social Security) Excellent footage of mechanized bookkeeping; checkwriting, precursors to computerization... enormous paper stacks of records; bookkeeping; perforated cards for computers; women using calculators in large pools including some African-Americans; envelope stuffing machines... woman with rolling pin; sign: Home for the Aged... CU application for SS card' Public domain film from the Prelinger Archives, slightly cropped to remove uneven edges, with the aspect ratio corrected, and mild video noise reduction applied. The soundtrack was also processed with volume normalization, noise reduction, clipping reduction, and/or equalization (the resulting sound, though not perfect, is far less noisy than the original). http://creativecommons.org/licenses/by-sa/3.0/ http://en.wikipedia.org/wiki/Social_Security_(United_States) In the United States, Social Security is primarily the Old-Age, Survivors, and Disability Insurance (OASDI) federal program. The original Social Security Act (1935) and the current version of the Act, as amended, encompass several social welfare and social insurance programs. Social Security is funded through payroll taxes called Federal Insurance Contributions Act tax (FICA) and/or Self Employed Contributions Act Tax (SECA). Tax deposits are collected by the Internal Revenue Service (IRS) and are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund which make up the Social Security Trust Funds. With a few exceptions, all salaried income, up to a specifically determined amount by law (see tax rate table below) has an FICA and/or SECA tax collected on it. All income over said amount is not taxed, for 2014 the maximum amount of taxable earnings is $117,000. With few exceptions, all legal residents working in the United States now have an individual Social Security number. Indeed nearly all working (and many non-working) residents since Social Security's 1935 inception have had a Social Security number, because it is required to do a wide range of things including paying the IRS and getting a job. In 2013, the total Social Security expenditures were $1.3 trillion, 8.4% of the $16.3 trillion GNP (2013) and 37% of the Federal expenditures of $3.684 trillion. Income derived from Social Security is currently estimated to keep roughly 20% of all Americans, age 65 or older, above the Federally defined poverty level. The Social Security Administration is headquartered in Woodlawn, Maryland, just west of Baltimore...