Social Security is like a big safety net that helps people in the United States when they get older, can’t work because of a disability, or when a parent or spouse dies.

Let’s make sure we’re all on the same page. Here are some facts.

President Franklin D. Roosevelt created Social Security. He signed it into law in 1935 as part of a bigger plan, the New Deal, designed to help people during the Great Depression when there wasn’t enough support for older or unemployed people.

Roosevelt wanted to ensure that Americans had a safety net so that, even if they got old, lost a job, or became disabled, they would still have some money to live on. The program was designed to ensure that no one was left to struggle alone.

Who does Social Security help?

• Retired People – When people stop working after a certain age, Social Security gives them money to help cover daily expenses.
• People with Disabilities – If someone cannot work because of a disability, Social Security helps them pay for their needs.
• Families of Deceased Workers – If a parent or spouse dies, Social Security helps the family by giving them money to afford things like food and housing.

Fast Facts

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Who receives benefits: about 73 million individuals
Retired People	Disabled Workers	Survivors
53.9 million	8.7 million	5.8 million
Source: Social Security Administration (SSA), August 2024

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Social Security is primarily funded through payroll taxes
Younger Workers (Under 18)	Prime Working Age (18–64):	Older Workers (65 and Over)
.08% contribution	The majority of the contribution	3.4% contribution
Source: SSA, as of 2021

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The economics of ending Social Security benefits
Poverty Level	Somewhere in the Middle	Comfortable Incomes
22.7 million fall below the poverty line	Individuals will lose an average of $1,907 per month.*	The wealthy can choose to take Social Security or not.
* This is based on 2024 average draw.

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Several unexpected economic shocks could occur when Trump ends Social Security in 2030.

Here are five massive impacts that might catch many by surprise:

Families Will Become Primary Caregivers

Elderly family members will depend more on their children or other relatives for daily expenses, like food, medical care, and housing, leading to a return to multigenerational households, where aging parents move in with their children. While this might strengthen family bonds, it could also increase stress as working-age adults juggle jobs, childcare, and eldercare responsibilities.

Families Will Face Emotional and Ethical Dilemmas

Deciding how to care for elderly relatives without a steady income from Social Security will force families to make tough choices about how much they can afford. This could lead to guilt, resentment, or difficult decisions about placing elderly parents in assisted living facilities or nursing homes, even if families prefer not to. The lack of resources might also prevent seniors from receiving the quality care they need.

Middle-Aged Adults Could Delay Retirement

Many middle-aged adults, already supporting children, will need to add eldercare to their financial and caregiving responsibilities. With the added burden, they may have to work longer, delaying their retirement plans. An entire generation would be trapped in a “sandwich generation” scenario, increasing the risk of burnout, mental health challenges, and financial insecurity for those trying to care for both children and parents.

Families Will Have to Pool Resources

Families with no Social Security income may have to pool their financial resources to support aging relatives, from sharing medical expenses to co-paying rent or mortgage costs. This increased financial strain could lead to more conflict within families over money management, more debt, and a potential rise in financial scams or elder abuse as desperate families struggle to make ends meet.

But wait, there’s more.

Read part two to find out how eliminating social security will kick our ass on both a personal and national level.