The Social Security of the United States is presented as a system capable of guaranteeing the population the satisfaction of their needs and a decent standard of living when the conditions are unfavorable for the worker. This insurance gives peace to working citizens and their families based on the careful management of the contributions and administration of the Institution. This poses great challenges in terms of understanding how state guarantees should function around the welfare of citizens and how solidarity and subsidiarity should work within the Administration and the Government, and from and towards citizens. If this is the model to be taken as an example, the state guarantees regarding the administration of resources must be given, in order to guarantee the trust of the citizens, which will be paid in greater affiliation to the system and better savings conditions for their future security. In addition to the awareness that the contributions of each help the welfare of all, will improve the sense of community and belonging to the system.
In my opinion, most Americans do not save for themselves, so this government program will help everyone in the country to have a future and a reserve for later. In the past a lot of companies used to have pensions, currently those numbers have declined rapidly. The companies replaced pensions with 401ks. Instead of saving for the employee, the companies have put the responsibility of saving on the employee. They still provide financial funding in retirement (via matching employee’s 401k contributions). I personally think that the 401k program is a failure. Only a small percentage uses it, and then the accounts get raided by the employee when they need money (you can take out a loan against your retirement. You pay interest and penalties). Some advantages are that people don’t have to stay with the same company for their whole life and there is not a risk for losing the retirement funding in case the former employer goes out of business. Without retirement funds, a person is forced to continue to work until they die. Social security was invented to allow old people to retire despite their savings and to support people who are unable to support themselves due to disabilities.
So why is it good? Because without it, a large portion of Americans would die prematurely (starvation, exposure to weather, etc.) or be a drain on their family’s resources. As a nation, we decided we don’t want these people to die when they don’t have to.