The Miami times. [volume] (Miami, Fla.) 1923-current, 1955-08-20
WEAVER SAYS
BY WILLIAM 3. WEAVER

| DeHeIlI program ala not become
fully operative until Jan. l, 1897
1t has grown from nothing al
that time to point where right
now here in Dade County more
than $4,000 persons are receiving
monthly. benefit checks. It was
not until 1910 when monthly
benefits became payable to GER
tain survivors of deceased work
erS.
Old-Age and Survivors InSur-
ance, as it is now called, has had
tremendous impact on the
economy of the county. During
1855 morethan 25 million dollars
will be paid to Dade County resi-
dents. This is the equivalent of a
payroll of a plant employing some
1000 persons. There are very few
plants in the state which could
equal this.
In the early days of the pro-
gram only about out of 10
workers were covered. 1t has
grown until now some 9 out of
10 have its protection. The max
imum retirement benefits payable
back in the 40's was some $45.20
monthly but today it is $98.50.
Back in those days a worker was
denied benefits in any month in
which he worked in covered en-
ployment for more than $14.99
per month. Today, it is possible
to earn $1,000. in a year and still
receive benefits for each month
in that calendar year
Time has done well by Old
Age and Survivors Insurance and
the persons who have its protec-
ton. One interesting phase is that
once persons becomes 70 years
Of age he may continue working
at any rate of pay and still re-
main eligible to receive monthly
benefit payments without loss of
any months benefits checks.
In the early days of the pro-
gram many persons belittled it
and openly stated that it was I'M
constitutional, no good, wouldn't
last, etc, etc, etc.
Today there are more than
seven and three-quarter million
persons in the United States and
its possessions receiving monthly
benefit checks. Almost S billion
dollars are being paid annually
to these people - roughly one
out of each 20 persons in the ma
ton is receiving a monthly Old
Age and Survivors check. No
good eh?
Wives and widows over IS,
mothers with minor children,
children under 18 years of age,
and dependent parents, as well
retired workers, are included in
the seven and three-quarter mil
lion persons now receiving
monthly checks. In fact, more
than one-fourth of all benefici-
aries in 1855 are survivors. About
one sixth are dependents of re-
tired workers.
AT the beginning of 1855 almost
z million people were insured I'M
der the law. Nine out of ten of
the mothers and children in the
country would get survivors in
Surance payments ranging UP
to $500 per month to a widow
with two children - in the event
of the death of the family bread
winner. A new provision of the
law allows disabled wage earn
ers with at least S years cover
age to have their benefit rights
fixed at the time they become dis
abled. This will help maintain the
protection they have been paying
for during the time they are un-
able to work. 1t will not pay any
cash benefits to persons under
age 65 but it will in many cases
to make a larger payment pos
sible when the time comes.
Social Security taxes are Shar-
ed equally by employers and wage
earners. These contributions, plus
payments from most Self-employ-
ed persons, go into. the Social Sc
curity trust fund. The fund now
holds over 81 billions in assets -
all invested in u. S. Government
bonds.
While the program has come a
long way 1t is not, as yet, ma
ture." Not even one generation
of Americans has spent a work
ing lifetime under the law. The