Social Security Administration, Income of the Aged Chartbook, 1994 in the Economic
Policy Institutess Paycheck Economics
Social Security currently provides 66% of all the income received by retired working
people. Few have adequate incomes that provide a decent standard of livingwithout
social security, millions would be destitute.
This raises the
levels of income for both retirees and those currently working. It is estimated that if
there were no Social Security about 54% of Americas elderly would live in poverty.
And without Social Security, think how much money you would have to contribute to help
your parents and grandparents survive.