Social Security

Social Security

Social Security is one of the centerpieces of America's social safety net. It was created in 1935 by the Social Security Act (unemployment insurance and welfare were also instituted by this law).  Social Security is a federally administered and funded insurance program to alleviate poverty among the elderly. Social Security functions as a contributory system wherein workers and their employers contribute taxes to the program throughout their working lives, and are then able to utilize the fund upon retirement. The Social Security Act has been expanded and amended over the years.

Commentary

Lessons from FDR: When the Right Cries Wolf, Bite Back

August 14, 2010

Cry Wolf Quotes

So-called social security [will] mean industrial in-security.

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National Association of Manufacturers, May, 1935.

The lash of the dictator will be felt and 25 million free Americans will for the first time submit themselves to a finger print test.

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Representative Daniel Reed (R-NY)

YOU’RE SENTENCED TO A WEEKLY PAY REDUCTION FOR ALL OF YOUR WORKING LIFE. YOU’LL HAVE TO SERVE THAT SENTENCE UNLESS YOU HELP REVERSE IT NOVEMBER 3.

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Two weeks before the election, workers in various Detroit plants found these placards at their workplaces. October, 1936.

Too long have we introduced carelessly into the stream of our national life alien philosophies of government control and foreign ideas of repression of the individual that have no place in this land of freedom. It is time to rout them out. It is time for all of us to realize that we want and intend to have for our own and later generations the American pattern of life and the American freedom of opportunity which these foreign ideas and theories and plans have been shouldering out of the picture.

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Chamber of Commerce Vice President Philip J. Fay

Related Laws and Rules

Resources

Center for Economic and Policy Research (CEPR) is a progressive think tank that concentrates on social and economic policy, both domestic and international.

The Center on Budget and Policy Priorities (CBPP) is a think tank focused on tax and fiscal policy. They provide in-depth analysis of state issues.