Social Insurance

“Social insurance” means that the government is responsible for the financial support of programs for individuals and companies that can be paid into with taxes from the recipients and bolstered with subsidies from the government provider.  Social Security retirement, disability, and survivor benefits, bank deposit insurance, unemployment benefits, and corporate pensions can be called social insurance.  The picture explains the idea of how it can be thought of that they are not only earned benefits that they can be premium supported or taxed into by the participants, but that since they are supplemented and sponsored by the government they are called entitlements instead of purely earned benefits.

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