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

The Senate Finance Committee stands between us and stands between businesses that are almost prostrate, stands between us and destruction, and we feel that we can come to you for support and for protection. You will have no taxes to pay anything with if you do not keep American industry alive, and we have a right to depend on you gentlemen to do it, no matter what propositions, impractical propositions, are brought up.

-
Elon H. Hooker, president of the Manufacturing Chemists Association. Senate Finance Committee hearings.

This is the largest tax bill in history. And to call it ‘social security’ is a fraud on the workingman…. I am not exaggerating the folly of this legislation. The saving it forces on our workers is a cruel hoax.

-
Alf Landon, the 1936 Republican nominee for president.

The lash of the dictator will be felt and 25 million free Americans will for the first time submit themselves to a finger print test.

-
Representative Daniel Reed (R-NY)

Business and industry are already operating under heavy burdens: and that old –age insurance would cause more unemployment.

-
Allen Treadway (R-Mass), the ranking minority member of the Ways and Means committee.