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
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.
The Form and nature of the old-age insurance plan, is very questionable; the whole matter should have received careful study by an expert commission. It would mean an added tax burden equal to nearly half of the existing total Federal tax burden.
Effective January 1937, we are compelled by a Roosevelt New Deal law to make a 1 percent deduction from your wages and turn it over to the government. You might get this money back . . . but only if Congress decides to make the appropriations for this purpose.
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
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.

