This paper explores the philosophical basics of various economic systems and the manner in which the specific economy systems relate to social justice through examination of vast income support policies. Firstly, social justice refers to the manner in which basic human rights are revealed and upheld for the purpose of a peaceable living. This paper therefore explores two income support policies which are the social security and the temporary assistance for needy families.
Social security refers to an economic support program that utilizes public funds to cater for the public’s economic security. The social security program works in a manner that employers and employees are responsible for paying the social security levy. After the levy has been collected, the money is thus used to provide social security benefits to those who have realized retirement age.
It is therefore evident this kind of economic support program targets the people who have attained retirement age. This segment of population usually consist the aging persons though retirement ages are relative from one nation to another. In social security policy, the current workers pay taxes which are ploughed back into the social security program to provide benefits to the current retirees. When the current workers later on retire from their jobs, the then workers pay taxes which helps sustain the thus retirees.
On the other hand, the temporary assistance for needy families refers to the United States federal program which offers fiscal support to American needy families. This policy bridges the gap between the time of unemployment and the employment time ensuring the citizens are in a position of self sustenance. Thus the program targets an unemployed population in the United States.
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