The Social Security Act Of 1935

In 1930’s the Great Depression triggered a crises in the nation’s economic life. The Great Depression left millions of people unemployed and penniless. People consider leaving their farms behind to work in the cities factories to send money home. But as they grow into their new lifestyles the aging parent would stay behind to keep their dream of landowner ship. The seniors would be left in the hardest times of need living off the land. President Roosevelt’s New Deal was created to help jump-start the economy by providing unemployed workers with jobs and benefits packages for temporary relief. One of the many steps taken to alleviate the burden on the American people was the passing of Social Security Act on August 14, 1935 and its amendments by Congress and the President, Franklin D. Roosevelt.

The Social Security Act of 1935 [H.R. 7260] was a bill that was signed on August 14, 1935 by President, Franklin D. Roosevelt. The act was established to help the elderly, disabled, or families who have lost a parent or spouse. The Social Security Act also known as SSA, was created to provide disadvantaged populations federal benefits. The act has a total of eleven titles ranging from the topics of the elderly, unemployed, child welfare, public health, and the blind. This paper will uncover what the Society Security was and how it contributed to the society. This paper will also cover the historical background, such as what problems led to the creation of this policy and if it was fixed by creating this act.

Currently, the United States is contemplating at a forthcoming Social Security crisis. If changes are not forged, the Social Security system will not be able to keep up with the demanded payouts and is estimated to empty the trust fund around the year 2037. In this paper I will review a brief history of the Social Security program, touch upon the eligibility requirements, discuss what economists believe about the future of the Social Security Program, and finally state the Pros and Cons to the proposed raising of the age requirement for minimum payout.

For years, Social Security has provided retired, disabled, as well many other Americans with financial security when they lacked or had little income later in their lives. Now, Social Security is being overwhelmed as the American population continues to grow. The Baby Boomers, or the demographic group born in the post- World War II era, from 1946-1964, have been the main reason for the prevalence of this issue. Millions were born during this era and by 2012 they were eligible for the full benefits of Social Security. Two years after that and for the first time ever, Social Security had to draw from its fund and since then they have not collected a surplus of taxes. Recent predictions show that by “2035, the number of Americans over age 65 will jump from today's 48 million to 79 million,” showing that this is just the start of Social Security’s problems to come. By 2035, I will hopefully be in my mid-30’s, wondering if one I would be able to afford retirement and without this system, I’m a bit unsure.

A. Is Shirley Caretaker disabled within the meaning of the Social Security Act in that she meets the requirements of the disabling listing for 12.04 affective disorders in 20 C.F.R. Appendix 1 to Subpart P of Part 404-Listing of impairments? With respect the answer is yes for the reasons stated in the Argument section of this brief.

We all can agree that in the past years there has been many events that has impacted America. One ever lasting effect was left by the Social Security Act of 1935. The Social Security programs are designed to protect individual families from income loss due to unemployment, sickness, old age, death, and to improve citizens ' welfare ("Why Social Security?"2015).

The Social Security Act of 1935 brought about several changes in the world. The Social Security Act of 1935 bill was passed on April 14, 1935 and signed into law on August 14, 1935 with President Franklin D. Roosevelt in office. The Social Security Act was established to assist the elderly, old-aged workers, individuals involved in industrial accidents, unemployment insurance, the blind, and the physically and mentally disabled. Efforts in getting the Social Security Act of 1935 passed involved equality, human empowerment, social economic justice, strength and constant advocacy for human rights. As it relates to human diversity many individuals throughout all of human history have encountered the uncertainties carried on by

In the United States, child support is court mandated and requires the non-custodial parent of a minor or minors to make payments to ensure that their child is financially taken care of. Title IV-D of the Social Security Act requires that all States establish a comprehensive program which works to locate non-custodial parents of children receiving welfare and to obtain child support from any parents located (Saltzman, Furman, and Ohman, 2014). Many incarcerated offenders are unaware that their child support payments accrue while they are incarcerated, potentially leading to a financial nightmare. A parent’s incarceration may not allow deviation from the guidelines set forth by the state. As seen in State

According to the enactment of the law, social security wasn’t used correctly in 1933-1934 when Roosevelt created the committee on economic security; economic security was to create programs for legislation. The economic security act was more powerful than social insurance. However, it wasn’t comparable to the committee; it still offered unemployment compensation, old age insurance, old age pensions and support for dependent children as well as federal finance for the health program. There was an issue with the old age security with financial difficulties which therefore changed the name of social security instead due the agreement between William green and Abraham Epstein. Roosevelt kept social security as a comprehensive system by protecting the citizens with the economic hazards in 1910. During the 1930’s there was an issue with the insurance policy for children that aimed directly towards the social insurance program. Social

The Social Security Act was the second New Deal Program created in 1935. The Social Security Act helped Americans during a terrible crisis. This program dealt with unemployment benefits and retired Americans incomes payments. A portion of the program helped the handicapped and the disabled Americans to adjust their incomes. The Social Security Act was counted as the greatest righteous success in the century. President Roosevelt signed original Social Security Act. The Social Security was brought about to limit the damage that the Great Depression did. The Great Depression was the world's worst nightmare the economy had to ever experience. The Social

Roosevelt and his Economic Crisis Committee, in 1935, came up with the simple idea of providing benefits to the generation of retired workers from tax money of currently working generation. Roosevelt put this straightforward idea into the system to make it work, and it surprisingly has worked out well so far. When the bill became a law in 1935, there were many people who were affected by the Great Depression and sought financial aid. Unlike the bank money that goes in loans and still depositor have access to the money; Social Security System passes out collected money immediately into benefits (“Social Security System”). This way, the working generation will always provide enough money to the fund. Rather than providing money from government fund, idea of benefiting citizens from their own money didn’t receive

The Social Security Act was originally one of my New Deal Programs to deal with the instability of retirement in the United States but I saw the opportunity that it could also do more than just that. The good people of the U.S. cannot always control whether they keep or lose their jobs. To combat unemployment rates, the SSA will act as a safety net for people that have been laid-off until they could find another source of income. Money will be taken out of an employee’s paycheck to help pay for Social Security. Two percent of all paychecks will be affected. Older Americans, the handicapped, and dependents were also given the money. In the beginning, about sixty percent of the workforce will be covered by Social Security but I predict that in about sixty years that ninety-five percent of the workforce will be covered. “Initially 60% of the workforce was covered by Social Security (by 1995, 95% of the workforce was covered)” (Franklin D. Roosevelt Presidential Library and Museum - Our

It is about eighty two years since Franklin D. Roosevelt signed Social Security Act. FDR stated “We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life...we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age.” The social security plan had established itself as one of the most popular federal program. The program covers retirement, disability, and survivors’ benefits although to quality for most of the program’s benefit there must have been contribution from the receiver. In 1935, the Social Security Act became an actual law and with several amendments

portion of the retiree’s income. In order to provide these benefits to retirees a 6.2% tax

(5) Currently SS funds are collected and distributed on a pay - as - you -go (PAYG) system in which Social Security taxes from individuals are immediately distributed by the means of the SS Administration as it sees best fit. This means that taxes collected are not reserved for the individual who has paid them: in Rose 2 the current state he or she must rely on those persons paying SS taxes during the time of their retirement (Becker). For a number of these characteristics and future issues, the Social Security System must be reformed or completely abolished to meet the needs of tomorrow. The leading concerns of Social Security that merits the immediate initiation of reform are the demographic and economic circumstances in the coming century. Even though "forecasting the economy and budget over such a long period is uncertain" there remain many "certainties" regarding problems facing Social Security in the first half of the 21st century (OMB, Budget Perspectives 23). The Federal Government's responsibilities extend well beyond "the five- or six-year window" that has restricted the focus of recent budget analysis and debate. Of these "certainties" are the mounting challenges posed from the baby-boomer generation. This generation, born in the years after World War II, is aging