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.
We believe that this measure, if adopted, means at best an annuity of doubtful value for the aged of the future and unemployment benefit of doubtful value for the normally temporarily unemployed of the future--at the terrific cost of retarding the reemployment of those who are unemployed today.
The actual fact will be, in almost every case, that the whole tax will be borne either by the employe [sic] or by the consumer through higher prices. That is the history of all such taxes. This is because the tax is imposed in such a way that, if the employer is to stay in business, he must shift the tax to some one else.
YOU’RE SENTENCED TO A WEEKLY PAY REDUCTION FOR ALL OF YOUR WORKING LIFE. YOU’LL HAVE TO SERVE THAT SENTENCE UNLESS YOU HELP REVERSE IT NOVEMBER 3.
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.

