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
If the provisions of the bill now pending should be adopted, the country should realize that within a decade there will be a tax burden amounting to as much as $1 billion.
[Social Security is] the end of democracy.
Imagine the vast army of clerks which will be necessary to keep these records.
Business and industry are already operating under heavy burdens: and that old –age insurance would cause more unemployment.