CheckPoint: Social Insurance Due Date: Day 4 [Individual] forum

Resource: Ch. 8 of Social Policy and Social Programs Summarize, in 200 to 300 words, how social insurance is used to fund public programs. What are the benefits and drawbacks of government funding? How are those benefits and drawbacks exhibited in social programs such as Medicare, unemployment insurance, and workers compensation?

Social insurance programs are funded through taxes on workers wages.  These funds make certain public programs possible.  The tax base is calculated on each worker paying 6.2% tax into the Old Age Survivors and Disability Insurance Fund.   This fund provides monies to those workers who are too old or disabled to work.    In addition, private companies pay 12.4% into this insurance fund. ...