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04.05 Uncle Sam's Toolbox—Honors

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Monique Daley

on 29 March 2016

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Transcript of 04.05 Uncle Sam's Toolbox—Honors

04.05 Uncle Sam's Toolbox—Honors
By: Monique Daley
Relief Reform Recovery
On March 12, 1933, Roosevelt broadcast the first "fireside chat" over the radio. He spoke about a variety of topics including the Bank Crisis. During his first year as president, Congress passed laws to protect stock and bond investors.
"I pledge you, I pledge myself, to a new deal for the American people."
Franklin D. Roosevelt
"Let me assert my firm belief that the only thing we have to fear is, fear itself — needless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance."
Roosevelt's goal was to redeem the nation from economic collapse.
Identify a government program to analyze—one where the government makes direct payments to citizens. Examples include economic stimulus checks, small business grants, farm subsidies, disaster relief, renewable energy projects, housing grants, social security, and many more.
Brief Prologue...
Franklin D. Roosevelt (FDR)
Franklin D. Roosevelt
Social Security Act (SSA)
The Social Security Act created monthly pensions for the
elderly, disabled, unemployed and women with dependent children
. Money for this program was taken from payroll taxes. This ensured the well being of the American citizens.
“we can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life,”
Franklin D. Roosevelt
The Social Security Act
Continued...
The following slides will include answers to the questions below:
What is the history of the program?
Who benefits from this program and how?
What is the yearly cost to the American taxpayer? What is the historical cost data?
What percent of the total federal budget is spent on this program relative to other programs?
What is the impact of this program on price stability, full employment, and economic growth?
What is the potential impact beyond the direct payment recipient? (For example, a small business grant could lead to lowering the unemployment rate in a particular area.)
What are the professional opinions in support of and against the program?
FDR and The New Deal
August 19, 1935 -
The average tax costs for an employer is 6.2% and the average costs for an employee is 4.2%. Employers usually have more to give in terms of taxes because they have higher Net income,
In comparison to the other programs, 23% of the total federal budget is spent on Social Security. This is not hard to believe considering the fact that Social Security plays a huge part in the lives of the elderly and those who hae trouble fending for themselves.
Social Security does not impact stability but it does impact employment and economic growth.
The direct payment recipient helps the government save money and keeps Social Security running. It allows for some in regulating the government's spend/earn ratio.
Certain individuals readily depend on Social Security for income while others wait until retirement.
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In my opinion...
Congress should continue funding Social Security because it goes along with the old "helping the oppressed" goal of the United States. Social Security benefits those whom are out of luck in terms of ability. The elderly and disabled are in need of some assistance and Social Security provides that assistance in a variety of ways...due to the fact that it deals with the provision of funds. Helping those in need is very admirable and congress should keep it going.
"Pie Chart of 'federal Spending' Circulating on the Internet Is Misleading." @politifact. N.p., n.d. Web. 28 Mar. 2016.
Full transcript