Disability Insurance Quotes
This statement was quoted over and over by his Presidential opponent, Lyndon Johnson in the campaign of 1964. Although, a wealthy person could on the average do a little better with a private investment of equivalent money and a disability insurance, those citizens of less wealth could not do so as easily. And few could obtain the disability and survivor benefits that comes along with Social Security. Goldwater wanted to make Social Security Voluntary, and most Americans thought the Goldwater prescription for Social Security would kill the program and did not support him. Conservatives have argued for this idea ever since, including Geirge W. Bush who made it a centerpiece of his administration’s program. It was rejected by the voters, and most of those were proven right when with the 2008 stocks had lost 50% of their value—the people who had retired and depended on their return from investments were mostly in terrible trouble. And of course, even in good times, some people who invest in the stock and bond markets do well and some do poorly. What would society do about those who lost most of their retirement. Let them starve because they invested badly?
In effect this was one of the first organized systems of Social Security and disability insurance—one of the first social safety nets.
As hard as it is to understand today, there were few states with safety laws governing industry. There was no OSHA (Occupational Safety and Health Administration ) or other federal regulation of industrial safety conditions.
The minimum wage has never come close to meeting this ideal criterion in any country of the world. At the same time, health insurance costs in the U. S. and some other countries has been increasing at a much greater rate than wages, making this ideal situation even more unattainable.
Eleanor Roosevelt was left the other half of the income. Many people accused FDR of disinheriting his own children, However, he did not. It was the income from the estate that he left to LeHand as she was disabled and had no other source of sustenance or to pay her medical bills. The principle assets were left ½ to his children, and when Missy LeHand passed away, the income then reverted to his children. He explained to his son that the children were all educated and healthy and could earned a living but Missy could not. The children grew up knowing Missy and actually gave her the name “Missy” which stuck. There was no resentment on their part..
