Social Security Act of By: Social Security Act of A little over 60 years ago the nation struggled through what was, up to then, the most dramatic crisis since the Civil War. One of the many steps taken to alleviate the burden on the American people was that of the passing of Social Security Act of and its amendments by Congress and the President, Franklin D.
Share At approximately 3: The Social Security Act is one of the truly momentous legislative accomplishments in United States history.
Enacted in the throes of the Great Depressionit was a sweeping bill that generated an array of programs to aid numerous groups of Americans. The law got its title from the groundbreaking social insurance program designed to provide a steady income for retired workers aged 65 or older.
Background When English-speaking colonists arrived in North America, they were steeped in the notions and practices they knew in England, including the "Poor Laws.
They stressed local taxation to support the impoverished and all relief was a local obligation. Town elders determined who was eligible for relief or subject to punishment for laziness and how it would be meted out.
Prevailing American attitudes toward poverty relief were usually dubious, and governmental involvement was slight. Social Security as it would be recognized today did not actually come into being in America untilbut there was one significant predecessor, a social security program intended for a particular segment of the American population.
In the aftermath of the Civil War, there were hundreds of thousands of disabled veterans as well as widows and orphans. Their needs led to the development of a pension plan with similarities to later developments in Social Security. Rooted in the 18th century, several significant social trends occurred in 19th century America that made conventional ways of securing economic survival increasingly obsolete: In other words, Americans had become increasingly industrialized, citified, and older, and fewer people lived with various near relatives.
The act and its subsequent amendments The Social Security Act signifies a sharp departure from prior American tradition.
The United States had customarily stressed "pulling oneself up by the bootstraps" and voluntarism to alleviate social ills. However, the depression of the early s generated nationwide misery, and sparked a popular crusade for old-age pensions coordinated by a retired California doctor, Francis Townsend.
The Roosevelt administration responded by securing the Social Security Act in The program would be funded by payroll taxes apart from some startup costs.
When proposing the legislation to Congress in JanuaryRoosevelt made a comment about flexibility that stands in contrast to later views.
He proposed "voluntary contributory annuities by which individual initiative can increase the annual amounts received in old age. The act has been amended numerous times, notably in when surviving spouses and minor children were included as beneficiaries.
Payroll taxes grew to pay for it. Indisability insurance was instituted and augmented over subsequent years. Early retirement for women at age 62 was permitted. Payroll taxes hovered at four percent. Inearly retirement for men at age 62 was allowed. Payroll taxes rose to six percent. A major advance occurred when the Social Security Administration was charged with providing health care to beneficiaries aged 65 or older, under the new Medicare Act signed into law by President Lyndon B.
Johnson on July 30, In the law was modified to provide a yearly COLA, keyed to the annual increase in consumer prices, to begin in InPresident Ronald Reagan signed into law, for the first time, the taxation of Social Security benefits.
In addition, coverage was extended to federal employees, the retirement age was raised, to begin inand the reserves in the Social Security Trust Funds were increased. Inthe Social Security Trust Funds were moved out of the federal budget, so that funds set aside for the Social Security system could be tracked separately from the rest of the budget.
By then, payroll taxes were pegged at Inthe amount of taxable benefits for upper income retirees was increased to 85 percent and payroll taxes rose to To keep the system as it was and actuarially sound, they wrote, payroll taxes would have to rise by 50 percent or benefits would have to be cut by 30 percent.The Social Security Act of , this is first time to use the concept of social security, set rules for the social security contents, such as, social insurance, social welfare and social relief, etc.
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The Social Security Act is a U.S. law, signed August 14, by Franklin Delano Roosevelt introduced under the New Deal, unemployment benefit, sickness and old age.
According to Social Security . The Social Security Act was part of Franklin Roosevelt's New Deal program to provide relief after the Great Depression. It had several provisions among them, a pension monthly for persons over Social security act essays Social security act essays attention getters for argumentative essays about education virginia woolf death of a moth and other essays on global warming essay on t20 world cup fixtures.
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