Social Security
Social Security is one of the centerpieces of America's social safety net. It was created in 1935 by the Social Security Act (unemployment insurance and welfare were also instituted by this law). Social Security is a federally administered and funded insurance program to alleviate poverty among the elderly. Social Security functions as a contributory system wherein workers and their employers contribute taxes to the program throughout their working lives, and are then able to utilize the fund upon retirement. The Social Security Act has been expanded and amended over the years.
Commentary
Lessons from FDR: When the Right Cries Wolf, Bite Back
Cry Wolf Quotes
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.
I fear it may end the progress of a great country and bring its people to the level of the average European. It will furnish delicious food and add great strength to the political demagogue. It will assist in driving worthy and courageous men from public life. It will discourage and defeat the American trait of thrift. It will go a long way toward destroying American initiative and courage.
Unfortunately, the measure is in some respects ill-considered. It’s constitutionality is by no means certain: if the Federal Government may compel the states to adopt unemployment insurance under the guise of a tax, why may it not similarly compel them to adopt any other sort of legislation
[Social Security is] the end of democracy.
Related Laws and Rules
Resources
Center for Economic and Policy Research (CEPR) is a progressive think tank that concentrates on social and economic policy, both domestic and international.
The Center on Budget and Policy Priorities (CBPP) is a think tank focused on tax and fiscal policy. They provide in-depth analysis of state issues.

