Definitions for "Social Security"
A government fund that provides a pension to elderly Americans. You are exempt from social security taxes, but you must get a social security number.
Begun in 1935, this is a system of federal, old-age pensions for employed persons. A portion of wages are deducted from the employee's salary to go into Social Security. In addition, an equal portion is contributed to Social Security by the employer.
Social Security benefits include disability, retirement, and survivors benefits, as well as Black Lung payments made to coal miners and payments made to retired railroad workers under the Railroad Retirement Act.
A form of legal Ponzi scheme or lottery. A disguised tax coupled with a possible social program later. See "Ponzi scheme".