Social Security Act of 1935

Social Security Act of 1935

Social Security Act of 1935 established old age insurance for much of the over 60 population. Half of the funds are provided by a payroll tax on workers and half is paid by employers. The act also provided federal unemployment insurance, welfare aid to low-income mothers (later amended to families), funding for individual state assistance to elderly individuals, and various other social insurance provisions.

Cry Wolf Quotes

There is no such thing, biologically, socially or economically, as absolute security; but the greatest security comes from within the individual rather than from without and the Thames unduly to ensure, will so weaken the individual and cannot adapt circumstances and environment to himself, or himself to his surroundings.

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John C. Parker, President of the Brooklyn Edison Company.

There is every probability that the cash they pay in will be used for current deficits and new extravagances. We are going to have trouble enough to carry out an economy program without having the Treasury flush with money drawn from the workers…

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Alf Landon, the 1936 Republican nominee for president.

Effective January 1937, we are compelled by a Roosevelt New Deal law to make a 1 percent deduction from your wages and turn it over to the government. You might get this money back . . . but only if Congress decides to make the appropriations for this purpose.

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

We believe that this measure, if adopted, means at best an annuity of doubtful value for the aged of the future and unemployment benefit of doubtful value for the normally temporarily unemployed of the future--at the terrific cost of retarding the reemployment of those who are unemployed today.

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John Harrington, general counsel for the Illinois Manufacturing Association. Senate Finance Committee hearings.