This day marks a very significant day in US history. Mr. President Roosevelt has signed the social security act. This has occurred only 14 months after sending a message to Congress on June 8. The message promised a plan. The plan made social insurance so it could act as a “guard” against the hazards and vicissitudes of life." This is an attempt to eliminate what is now a days seen as dangers in the American life, including old age, poverty, unemployment, and the burdens on widows and fatherless children. By President Roosevelt signing this act on August 14, 1935. This makes President Roosevelt the first president to provide federal assistance for the elders. This act will add benefits to retirees and the unemployed. The U.S. social security
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This act will increase the initial tax rate at 2%. This is expected to bring the rate to 6 percent by 1949. This will also help provide retired workers 65 years and older with a steady income for the rest of their lives. People who earned at least $2,000 in total wages after December 31, 1936 before the age of 65 are eligible for the program. This is made to protect American Families. President Roosevelt said, “We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family ..." President Roosevelt also said regarding the Social Security Act, “This social security measure gives at least some protection to thirty millions of our citizens who will reap direct benefits through unemployment compensation, through old-age pensions and through increased services for the protection of children and the prevention of ill health.” The higher your earnings, the higher your benefit would be. Boler Gohir believes that, Social Security does not provide a fix to the issues that retired people are
This act will increase the initial tax rate at 2%. This is expected to bring the rate to 6 percent by 1949. This will also help provide retired workers 65 years and older with a steady income for the rest of their lives. People who earned at least $2,000 in total wages after December 31, 1936 before the age of 65 are eligible for the program. This is made to protect American Families. President Roosevelt said, “We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family ..." President Roosevelt also said regarding the Social Security Act, “This social security measure gives at least some protection to thirty millions of our citizens who will reap direct benefits through unemployment compensation, through old-age pensions and through increased services for the protection of children and the prevention of ill health.” The higher your earnings, the higher your benefit would be. Boler Gohir believes that, Social Security does not provide a fix to the issues that retired people are