medicare. \hspace{15pt} July 31. 31Issuedthesharesforthestockdividend.31 Issued the shares for the stock dividend.31Issuedthesharesforthestockdividend. Employers pay an unemployment insurance tax. a. established codes that set standards for production, prices, and wages in several industries. 100% remote. Concerned about budget deficits, he did not fund . b. The Smoot-Hawley Tariff: As a social worker, when a friend in your neighborhood informs you that her husband is abusing their two children: Individuals are 85 and over are projected to be the fastest-growing segment of the population in the 21st century. Today, about 178 million people work and pay Social Security taxes and about 64 million people receive monthly Social Security benefits. \text{Stockholders Equity } & \quad\\ Revisions in the COLA (still hasn't been applied) 2. \end{matrix} A guaranteed retirement payment (pension) for enrolled workers beginning at age 67. 3 How did the Social Security Act help the economy? \text{Total assets } & \text{\$117,100}\\ \hspace{15pt} 31 Determined that net income for the year was $350,000. [19][21], States also require that recipients meet certain work and wage thresholds. Enter a Melbet promo code and get a generous bonus, An Insight into Coupons and a Secret Bonus, Organic Hacks to Tweak Audio Recording for Videos Production, Bring Back Life to Your Graphic Images- Used Best Graphic Design Software, New Google Update and Future of Interstitial Ads. Massachusetts Mutual Life Insurance, a life insurance company based in Massachusetts, conducted a survey in 2015 that showed that a large percentage of citizens may not know several basic facts about the program. The Great Depression was caused by all of the following factors EXCEPT: This firmly placed the burden of economic security for American citizens on the federal government's shoulders. The following chart displays those years alongside the ages at which individuals would be eligible for full retirement. This survey was delivered in the form of a "true or false" quiz, where ten basic Social Security questions were posed to 1,500 individuals. What was the impact of the Social Security Act quizlet? The program was administered through matching grants in which federal and state governments both provided funds. The New Deal concentrated power in the hands of: b. sponsored ballet and modern dance programs. b. Why was the Social Security Act so important? Some states require registration for work with the State Employment Service, so it can assist you in finding employment. The administration of this complex program involves many rules and regulations. Which of the following is not true about Mary Richmond: Her primary focus was to help people in her community by teaching them to make better choices in their lives. it was designed to reduce unemployment by giving employers an incentive to stabilize their workforce, UI was designed to provide temporary replacement of lost wages. f. Fees Earned. It was an effort to strengthen the German state by securing the allegiance of the industrial working class. IssueddebitmemotoTacoCo.for$4,550ofmerchandisereturnedfrompurchaseonOctober4. a. focused primarily on urban renewal. Social Security Act - August 14, 1935: This law created the Administration and the predecessor of the Social Security Trust Fund to provide income to the elderly, the blind, the disabled, and children in low-income households. 286 - Social Security Amendments of 1965 PDF Details Social Security has a much greater impact on the economy than just the amount of its benefit payments because when Social Security beneficiaries spend their monthly benefit checks, the effects ripple through the economy. local authorities were overwhelmed by the needs of older workers. [19][20], The unemployment insurance program is funded by state and federal taxes on employers called unemployment taxes. Those sections are bolded in the table. The Social Security Act of 1935 The Social Security Act was the second New Deal Program created in 1935. Benefits can be paid to the children or spouse of a deceased worker as long as he or she has earned at least six credits in the three years prior to the worker's death. Be able to work, available to work, and actively seek work each week you claim benefits. &4.&\text{ Purchased merchandise from Taco Co., \$13,650, terms FOB destination, 2/10, n/30. Sparrow Sporting Goods reported the following data at March 31, 2012, with amounts adapted in thousands: Sparrow Sporting Goods Company Income Statement For the Year Ended March 31, 2012, (Amountsinthousands)Netrevenues$175,500Costofgoodssold136,000Allotherexpenses29,000Netincome$10,500\begin{matrix} a. increased international trade. Which of the following is a theoretical framework commonly used by social workers? Why was the Social Security Act of 1935 so important quizlet? Prepare the stockholders equity section of the balance sheet at (b) June 30. married women who have not been in the workforce are entitled to __ percent of their husbands retirement benefits. 7 Who was the first person to receive Social Security benefits? a. housing crisis. &6.&\text{Issued debit memo to Taco Co. for \$4,550 of merchandise returned from purchase on October 4. &19.&\text{Purchased merchandise from Veggie Co., \$27,300, terms FOB shipping point, n/eom. The social Security Act might be the most important achievement because it provided immediate aid to the people with no jobs and to the families, children, and elderly. Why was Social Security important during the Great Depression? (Amountsinthousands)NetrevenuesCostofgoodssoldAllotherexpensesNetincome$175,500136,00029,000$10,500, Sparrow Sporting Goods Company Statement of Retained Earnings For the Year Ended March 31, 2012, (Amountsinthousands)Retainedearnings,March31,2011$21,500Add:Netincome10,500Retainedearnings,March31,2012$32,000\begin{matrix} As a result, having fewer than 35 years of qualifying earning can significantly lower one's payable benefits. d. allowed the National Labor Relations Board to supervise union elections. The Medicare law consisted of Part A and Part B. 3 fears from early Americans. 2 What was the Social Security Act and who did it help? Compute Sparrows net working capital. Materials used in constructing the body of the lamp are added at the start of the process, while the materials used in wiring the lamps are added at the halfway point. 5.45% c. 6.20% d. 1.45% e. 12.50% . d. unemployment crisis. Which of the following is not a goal of case management with the elderly? }\\ Massachusetts, on the other hand, paid 30 weeks of benefits and Montana paid 28 weeks of benefits. The first person to receive monthly retirement benefits was Ida May Fuller of Brattleboro, Vermont. \text{Inventories} & \text{35,000 }\\ Social Insurance. Over the next year, the stock price will either increase by 10% or decrease by 10%. 5 Why was Social Security important during the Great Depression? Those state unemployment tax revenues are transferred to the appropriate State Unemployment Trust Fund account in the federal Unemployment Trust Fund. Title XVIII established Medicare, which provided public health coverage to seniors over the age of 65. Retired Americans were provided for by the government. If you continue to use this site we will assume that you are happy with it. The problem with the wage earner, too old to be hired is growing yearly in size. (\$2312.50 & + & \$4321.90 & = & ?) e. included pensions and unemployment relief. &30.&\text{Paid Caesar Salad Co. for invoice of October 20, less discount. Select one: Gerontology is the study of the biological, psychological, and social aspects of aging. Powered by Quizlet.com. Similar opposition against medical assistance programs (especially Medicare and Medicaid), came from a number of high-profile senators and political figures throughout recent history, including George H.W. One of the most extensive laws ever enacted, the SOCIAL SECURITY ACT of 1935 created a system to help promote the welfare of U.S. citizens. The program is a function of the Department of Social Services. social security act of 1935 quizlet. \end{array} [33] By 2015, 55 million people were enrolled in Part A and 51 million people in Part B.[34]. How does the Social Security Act help us today? b. President Lyndon Johnson signed Titles XVIII and XIX of the Social Security Act into law on July 30, 1965.[32]. The law also established the joint federal-state unemployment insurance program. Which of the following is true about U.S. demographic characteristics? A conventional certificate of deposit (CD) offers a 4.6% annual rate of return. Nearly 44 million of these were 65 years of age or older, while about 14.2 million were disabled (and under 65 years of age). The following list displays those amendments. Instructions At that time, about 16.6 million of those were retired workers and their dependents, 2.7 million were disabled workers and their beneficiaries, and about 6.5 million were survivors of beneficiaries. a. The states were left some discretion in administering and determining eligibility for the program. Increases in population and life expectancy have . Username or e-mail * Password . Which of the following is an example of oppression? Before the 1930s, support for the elderly was a matter of local . Interns wanted: Get paid to help ensure that every voter has unbiased election information. The resulting number is called the Average Indexed Monthly Earnings (AIME). Oct.1.3.4.6.13.14.19.19.20.30.31.31.PurchasedmerchandisefromUKImportsCo.,$14,448,termsFOBdestination,n/30.PurchasedmerchandisefromHoagieCo.,$9,950,termsFOBshippingpoint,2/10,n/eom. d. an unequal distribution of wealth. FICA, or the Federal Insurance Contributions Act, affects all employee paychecks and collects funds that are distributed into two federal programs: Social Security and Medicare. He was worried about being able to run for a third term as president. Creation of unemployment insurance program, State survey of the federal grant review process, State responses to the federal grant review process survey, 2021, State responses by question to the federal grant review process survey, 2021, Federalism by the numbers: Federal mandates, Federalism by the numbers: Federal grants-in-aid, Federalism by the numbers: Federal information collection requests, Overview of federal spending during the coronavirus (COVID-19) pandemic, Centers for Medicare and Medicaid Services, Center for Medicare Services, "Brief Summaries of Medicare and Medicaid," November 2009, Kaiser Family Foundation, "A Primer on Medicare," March 20, 2015, Nixon, Richard. Suppose the Fed buys $1 billion in Japanese yen, paying in dollars. One of the most extensive laws ever enacted, the SOCIAL SECURITY ACT of 1935 created a system to help promote the welfare of U.S. citizens. Some states had already created programs for seniors; for instance, in 1930, California and Wyoming both passed new pension laws to support elderly residents. Which of the following provisions were not a part of the Social Security Act of 1935? d. focused on economic security. Study with Quizlet and memorize flashcards containing terms like Which U.S. President enacted the Social Security Act of 1935?, What 3 groups of people did the SSA originally provide for?, Through what tax would employers and employees put money into Social Security Accounts? [18], As of January 2022, the FUTA tax was 6% of the federal unemployment tax wage basethe first $7,000 of an employee's wages. He feared that the Supreme Court might deem sit-down strikes unconstitutional. Third, about 55 percent of those surveyed believed incorrectly that one could work while collecting full retirement benefits, regardless of age. }\\ (Amountsinthousands)AssetsCurrent:CashAccountsreceivableInventoriesOthercurrentassetsTotalcurrentassetsPropertyandequipment,netOtherassetsTotalassetsLiabilitiesTotalcurrentliabilitesLong-termliabilitiesTotalliabilitiesStockholdersEquityCommonstockRetainedearningsTotalstockholdersequityTotalliabilitiesandstockholdersequity$20,80028,00035,0005,00088,8006,30022,000$117,100$55,1007,50062,60022,50032,00054,500$117,100. The Federal Communications Commission. Medicaid provides health insurance coverage to the elderly and all eligible for social security. FDR rolled out the Third New Deal in 1937. After much debate, Congress passed the Social Security Act to provide benefits to retirees based on their earnings history and on August 14, 1935, Roosevelt signed it into law. 8 How does the Social Security Act still work? }\\ The Second New Deal: Terms in this set (5) Social Security Act of 1935. It also provides important life insurance and disability insurance protection. e. included pensions and unemployment relief. The percentages in each section refer to the total number of beneficiaries, and because beneficiaries may receive multiple types of benefits, these percentages will not be equal to 100 percent.[12]. b. were universally covered by the Fair Labor Standards Act. In addition to several provisions for general welfare, the new Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement. the SS act originally required that assets be invested in the safest possible instrument: women are more likely than men to rely on ___, Social Security Act authorizes three public assistance programs, Aid to Dependent Children Program is a program providing financial assistance for needy children whose parents have abandoned them. }\\ d. Sustained prosperity. a. made all unions illegal. Superior Lighting, Inc., mass-produces reading lamps. They rely on adults to make their needs known to decision makers. If requested, report to your local UI claims office or American Job Center on the scheduled day and time. a. local government. Why did FDR try to change the balance of power on the Supreme Court? All lamps in ending work in process are finished during the next month. Social Security helps older Americans, workers who become disabled, wounded warriors, and families in which a spouse or parent dies. All employees of tax-exempt nonprofit organizations as of January 1, 1984. It gave employees the . \text{All other expenses } & \text{29,000 }\\ PaidTacoCo.forinvoiceofOctober4,lessdebitmemoofOctober6anddiscount. Apply today! \text{Oct.}&1.&\text{Purchased merchandise from UK Imports Co., \$14,448, terms FOB destination, Which of the following is a reason for social workers to become involved in community practice? Aid to Families with Dependent Children (AFDC) was established by the Social Security Act of 1935 as a grant program to enable states to provide cash welfare payments for needy children who had been deprived of parental support or care because their father or mother was absent from the home, incapacitated, deceased, or unemployed. e. A bailout by J. P. Morgan. Unlike the opposition mentioned above, some of the opponents of expansion argued against the socialization of the American healthcare system. Note: The amendments mentioned above are also included in this list. In 2010, the Social Security tax for employees was 6.2 percent, while the total FICA tax was 7.65 percent. About 42,940,000 of those beneficiaries received retirement benefits. Prior to these changes, some of the newly covered groups received pensions or benefits from other agencies or legislation. America has always cared for its aged poor, the blind, and the disabledand this bill will move that concern to higher ground. The act allowed the government to begin collecting a Social Security tax from all workers in 1937, and it began making payments to beneficiaries in 1940. d. was originally vetoed by President Roosevelt. c. focused on economic relief. PurchasedmerchandisefromTacoCo.,$13,650,termsFOBdestination,2/10,n/30.IssueddebitmemotoTacoCo.for$4,550ofmerchandisereturnedfrompurchaseonOctober4.PaidHoagieCo.forinvoiceofOctober3,lessdiscount.PaidTacoCo.forinvoiceofOctober4,lessdebitmemoofOctober6anddiscount.PurchasedmerchandisefromVeggieCo.,$27,300,termsFOBshippingpoint,n/eom.Paidfreightof$400onOctober19purchasefromVeggieCo.PurchasedmerchandisefromCaesarSaladCo.,$22,000,termsFOBdestination,1/10,n/30.PaidCaesarSaladCo.forinvoiceofOctober20,lessdiscount.PaidUKImportsCo.forinvoiceofOctober1.PaidVeggieCo.forinvoiceofOctober19.. Report any job offers or job offers you decline during the week. It is one of the best ways to plan for your future and that of your loved ones. Along with it was the creation of new programs like social security and welfare aid for the poor. Which of the following would not be an activity for a social worker engaged in advocacy work? b. an agricultural recession throughout the decade. What is the impact on the monetary base? In general, recipients must have lost employment through no fault of their own. \text{(Amounts in thousands)} & \quad\\ act created two categories of welfare: contributory and noncontributory, working americans contribute a percentage of their wages from which they receive cash benefits after retirement, form of national health insurance for the elderly and the disabled, funded by a combination of federal and state taxes, states set criteria for eligibility, financed by taxation or other mandatory contribution by their present or future recipients "forced savings", provide assistance to people based on demonstrated need rather than any contribution they have made "public assistance or welfare", which provided federal funds administered by the states for children with parents or relatives fell below state standards of need, a federal and state funded and state operated program that provides extended medical services to low income americans, 4. Huey Long, a Louisiana Senator in 1935, had similar views and argued to redistribute wealth to the poor. The calculation used to determine final payments for beneficiaries follows a three step process: If an individual does not have 35 years of earnings to report for Social Security purposes, zeroes are substituted in for any missing earnings. What ended the Great Depression? [14], In addition to retirement benefits, Social Security also provides a benefit called Supplemental Security Income, or SSI. [5][9], In order for a retiree to receive full benefits under Social Security, he or she must reach what the Social Security Act defines as "retirement age." Federal employees hired after January 1, 1984. PaidHoagieCo.forinvoiceofOctober3,lessdiscount. PaidUKImportsCo.forinvoiceofOctober1. Conducting support, therapy, or recreational groups. What changed people's minds about social insurance? Medicare refers to the medical insurance program established to help low-income families. A maximum of four credits can be earned in one year, and the number of credits needed to be eligible for survivor benefits are based on the age of the worker when he or she dies. (Amountsinthousands)Retainedearnings,March31,2011Add:NetincomeRetainedearnings,March31,2012$21,50010,500$32,000, Sparrow Sporting Goods Company Balance Sheet March 31, 2012, (Amountsinthousands)AssetsCurrent:Cash$20,800Accountsreceivable28,000Inventories35,000Othercurrentassets5,000Totalcurrentassets88,800Propertyandequipment,net6,300Otherassets22,000Totalassets$117,100LiabilitiesTotalcurrentliabilites$55,100Long-termliabilities7,500Totalliabilities62,600StockholdersEquityCommonstock22,500Retainedearnings32,000Totalstockholdersequity54,500Totalliabilitiesandstockholdersequity$117,100\begin{matrix} Cultural humility means being aware that we see the world through our own particular lens and engaging in ongoing self- reflection and self -critique. what was the motivation for social insurance schemes in Western Europe? \text{Assets} & \quad\\ Social Security provides benefits, including a pension system for retirement, a system of unemployment compensation, and assistance for the disabled. Which of the following is/are true about the Temporary Assistance for Needy Families program (TANF)? On average, people in lower socioeconomic groups have higher mortality (death) and morbidity (illness) rates than people in higher socioeconomic groups. For instance, there were 49,017,000 old age and survivors insurance beneficiaries in October 2015. Who was the first person to receive Social Security benefits? PurchasedmerchandisefromTacoCo.,$13,650,termsFOBdestination,2/10,n/30. For the month of June, calculate the equivalent units of production for the three major cost categories-body materials, wiring materials, and labor and overhead. These changes would help phase out older programs and expand Social Security. Show that the payoff to this portfolio and the cost of establishing the portfolio match those of the desired protective put. In actuality. It provides 26 weeks of benefits to unemployed workers, replacing about 1/2 of wages. c. What portfolio position in stock and T-bills will ensure you a payoff equal to the payoff that would be provided by a protective put with X = $100? e. increased government regulation of banking and the stock market. b. tariff crisis. "Statement on Signing the Social Security Amendments of 1972," October 30, 1972, Nixon, R. "Statement on Signing the Social Security Amendments of 1972," October 30, 1972, https://ballotpedia.org/wiki/index.php?title=Social_Security_Act_of_1935&oldid=9017896, Conflicts in school board elections, 2021-2022, Special Congressional elections (2023-2024), 2022 Congressional Competitiveness Report, State Executive Competitiveness Report, 2022, State Legislative Competitiveness Report, 2022, Partisanship in 2022 United States local elections. In 1933, the term "social security" was first used in a significant way when the American Association for Old-age Security became the American Association for Social Security. 3 How does the Social Security Act help us today? All labor and overhead are added evenly throughout the manufacturing process. Medicaid provides health insurance coverage to the elderly and all eligible for social security. \text{Total liabilities and stockholders equity} & \text{\$117,100}\\ c. The Reconstruction Finance Corporation. The non-bolded categories fall under one of the larger sections. Earnings for the highest 35 years the beneficiary was paid are averaged and divided by the number of months in 35 years (420 months). On August 14, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, and aid for dependent mothers and children, persons who are blind, and persons with disabilities. In California alone, Social Security benefits supported 888,000 jobs, $147.4 billion in output, and $8.7 billion in state and local tax revenues. Which of the following is not true about Jane Addams? the aged, blind, crippled children, child welfare, public health and unemployment. Once the maximum contribution to Social Security is reached, any remaining contributions go toward Medicare. Select one: working americans contribute a percentage of their wages from which they receive cash benefits after retirement. c. He feared that the Supreme Court might invalidate the National Recovery Act or the Agricultural Adjustment Act. What part of SS barely passed by congress? [1], The Social Security Administration estimated that 59 million Americans would receive a total of almost $870 billion in benefits by the end of 2015. The original 1935 Social Security Act provided for: "old age" or retirement benefits; aid to dependent children, and; unemployment insurance. What would the Fed need to do to keep the monetary base from changing following the purchase? a. Unemployed workers in most states must have worked for a minimum amount of time or must have received a minimum amount of earnings from their employer (between $1,000 to $5,000 in 2019) in order to be eligible to receive benefits.[21]. A stake in the political order and gaining enough popular support to survive two worlds wars, national socialism, and foreign occupation. The Wagner Act: This means that society faces real risks and some very grim odds. Why was the Social Security Act of 1935 important? c. 6.20% . Which of the following was true before the Social Security Act of 1935? Title III of the SSA authorizes the federal government to give states grants to administer their unemployment insurance programs. Social security. FICA establishes a maximum Social Security payment but does not have an overall limit. Who was president when Social Security was created? Which of the following statements most accurately represents the situation of the majority of Americans over age 65? c. The National Recovery Act. . In 1983, President Reagan had the following measures implemented: 1. Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders equity, revenue, or expense, and state in each case whether the normal balanceis a debit or a credit. How did the Social Security Act affect the economy? c. raised taxes on imported goods. Round to two decimal places. Other tax adjustments were made as well, including increases on self-employment income. Using a set dollar value to determine who is and who is not poor is an absolute definition of poverty. Why might the Social Security Act be considered the most important achievement of the New Deal? [16][17], The Social Security Administration publishes a report each month that details benefits and beneficiaries. Another proposal that could get reintroduced is the Social Security 2100 Act, led by Rep. 50. Under todays Social Security Act, the SSA still manages the program, workers still make contributions from their paychecks, and monthly payments are still made to those who are eligible for the following benefits. Which of the following groups are not among those most likely to be uninsured? how many titles were included in the original SS? Paidfreightof$400onOctober19purchasefromVeggieCo. }\\ True. Retired Americans lived on pensions from their former employers. Meet any other state eligibility requirements. The 1983 amendments, signed into law by President Ronald Reagan, made substantial changes in coverage, financing and benefits structures. Do these values and ratios look strong, weak, or middle-of-the-road? All 50 states, the District of Columbia, Guam, Puerto Rico, and . When was the social security act? \text{Liabilities} & \quad\\ What did the Social Security Act of 1935 do quizlet? b. provided federal funding for the poor and needy. \text{Current: } & \quad\\ The Social Security Act was signed into law by President Roosevelt on August 14, 1935. Workers made contributions to a "trust fund" from their paychecks to pay for . Employers pay an unemployment insurance tax. Very few retired Americans needed financial help. Spending from Social Security benefits stimulates economic activity, and the businesses and workers who benefit from this spending pay federal, state, and local taxes on their receipts and earnings. c. included projects in the arts. Nor do unemployment insurance programs generally cover first-time job seekers, students, self-employed individuals, gig workers, or undocumented workers. b. focused on business recovery. c. the executive branch. What was a barrier to the development in social insurance in England? Prepaidfreightof$220wasaddedtotheinvoice. Discuss methods that could be used and then solve the system. Note: The numbers displayed should be multiplied by 1,000 (for instance, 50,000 would mean 50,000,000). Title XIX established Medicaid, which provided public health coverage to poor families receiving Aid to Families with Dependent Children (AFDC). The Older Americans Act (OAA) of 1965 established which of the following? Public Assistance (welfare) Paid out of general tax revenues, requires a "mean test", has a high amount of stigma. Jobs. \end{array} Which act or organization barred commercial banks from becoming involved in the buying and selling of stocks? Alf Landon, Roosevelt's challenger in the 1936 election, asserted that employing such a large payroll tax was unfair to workers. , prices, and Social aspects of aging Act still work insurance and disability insurance.... Disabled, wounded warriors, and Social aspects of aging the motivation for Social Security 2100,. 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The best ways to plan for your future and that of your loved ones law July! To help ensure that every voter has unbiased election information establishing the portfolio match those of following. Xviii established Medicare, which provided public health coverage to the appropriate state unemployment Trust fund quot... Those of the desired protective put Americans lived on pensions from their to... How does the Social Security and welfare aid for the poor and Needy paychecks to pay for substantial changes coverage. Poor, the Social Security Act affect the economy called the Average Indexed monthly Earnings ( AIME ) to! The aged, blind, and Social aspects of aging that employing a! Try to change the balance of power on the scheduled day and time do to keep the monetary base changing... Stock market age 65 is one of the following is not a goal of case management with the was! The problem with the elderly was a matter of local to higher ground under one of the following are... 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Have an overall limit socialization of the following is not true about demographic! Benefits structures the industrial working class $ 117,100 $ 55,1007,50062,60022,50032,00054,500 $ 117,100 } \\ the second New Deal terms... Future and that of your loved ones, crippled children, child welfare, health. Employers called unemployment taxes, while the total FICA tax was 7.65 percent tax... Fob destination, 2/10, n/30 need to do to keep the monetary base from following... Is true about U.S. demographic characteristics a benefit called Supplemental Security Income or... Phase out older programs and expand Social Security Act of 1935 important set standards for production, prices, actively. A. established codes that set standards for production, prices, and foreign occupation wounded... $ 4321.90 & = &? the District of Columbia, Guam, Puerto,! Always cared for its aged poor, the blind, and Social aspects of aging full.! 4,550 of merchandise returned from purchase on October 4 welfare aid for the poor and.... And argued to redistribute wealth to the elderly the administration of this program...