What is Social Security designed to provide?

Social Security is primarily designed to provide guaranteed retirement income for individuals who have paid into the system through payroll taxes during their working years. The program is funded through these payroll taxes collected from workers and their employers, creating a safety net for retirees, disabled individuals, and survivors of deceased workers.

This system is intended to ensure that individuals have a source of income after they retire, reducing poverty among the elderly and assisting in their financial stability. It is not aimed at providing temporary assistance for unemployment, healthcare coverage, or educational benefits, which are addressed through other government programs. The focus of Social Security is squarely on retirement income as a foundational aspect of economic security for the aging population.