How things REALLY worked before FDR ushered in THE MOST successful program in American history...
Social Security reduces the proportion of elderly people living in poverty from nearly one in two to fewer than one in eight, according to a new study released today of Census data. The study found that in 1997, nearly half of all elderly people — 47.6 percent — had incomes below the poverty line before receipt of Social Security benefits. After receiving Social Security benefits, only 11.9 percent remained poor.
As a result, the study said, Social Security raised out of poverty more than one in every three elderly Americans. The program lifted 11.4 million elderly people above the poverty line.
Without Social Security, the study found, 15.3 million elderly had incomes below the poverty line. After Social Security, only 3.8 million elderly did. Three-fourths of those elderly people who would have been poor without Social Security were lifted from poverty by it.
Your "study" is obviously a con. In the first place, without Social Security the elderly would have had 13% more income their entire lives to invest in a retirement program. Furthermore, they would have had a much greater incentive to do so since they knew they couldn't count on the taxpayers paying their bills.
Also, your claims about the poverty rate among the elderly before Social Security are pure fiction. The government didn't measure the poverty rate before 1958, so where did the authors of this "study" get there information on poverty rates among the elderly prior to Social Security?
Even if the poverty rate is lower now, that doesn't prove that Social Security is the reason. The defenders of OSHA claim it's a great success because since its creation the workplace accident rate has decreased by so many accidents per 100,000 people. What these apologists conveniently ignore is the fact that workplace accident rate decreased just as fast or faster before the creation of OSHA.
Therefore, the data you posted doesn't support your claim that Social Security has reduced poverty among the elderly. Your claim is nothing more than cheap propaganda for the dumb masses.