Social Security is a government system that provides assistance to people with low income or no income, it is a federal insurance program that provides for people that are retired, disabled, and independents. Over 220,000 people signed up for the Social Security within the first two years of it being created. In the beginning, the money was only to pay the family's primary worker, the main effect it had was to provide a safety net for family's money and retirement. The Social Security Act was the first federal law providing financial protection for the entire country. Social Security is much more than a retirement program. Not only it provides for people over the age of 62 but it also provides for surviving family members of workers who died at any age.
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Without Social Security many Americans would not be able to support themselves and their families. By 1949, there were around 3 million citizens being supported by Social Security. Though, the price of the monthly benefits only grew from $22.60 in 1940 to $26 by 1949. By 1957 over 11 million jobs were covered by the Federal Social Security. During the 1960's, a key act was passed for Social Security. The council found that many elderly citizens struggled with the money they received from Social Security because of high hospital and health care costs.
In 1965, the Medicare Act was signed for all people who had been receiving full benefits or under the system for 24 months. January of 1937, the first benefit payments began and the word was spreading about Social Security. Social Security not only covers for adults but also covers for children. Social Security covers children under the age of 18 and for parents who passed away or have become
Without Social Security many Americans would not be able to support themselves and their families. By 1949, there were around 3 million citizens being supported by Social Security. Though, the price of the monthly benefits only grew from $22.60 in 1940 to $26 by 1949. By 1957 over 11 million jobs were covered by the Federal Social Security. During the 1960's, a key act was passed for Social Security. The council found that many elderly citizens struggled with the money they received from Social Security because of high hospital and health care costs.
In 1965, the Medicare Act was signed for all people who had been receiving full benefits or under the system for 24 months. January of 1937, the first benefit payments began and the word was spreading about Social Security. Social Security not only covers for adults but also covers for children. Social Security covers children under the age of 18 and for parents who passed away or have become