Social Security Act Of 1935

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In August 14, 1935 Social Security was established by the founder of Franklin D. Roosevelt. Social Security had a program known as social insurance for what it consists of retirement, disability, and survivors’ benefits. Those benefits included taxes. Let’s go back in time and explore the history and issues that were involved in social security. (Social security of United States) Before the 1930’s, the great depression in the 1929 became an issue for the economy as well as the stock market crashed. Many Americans were in poverty; which created a huge issue for the economy. Also, caused many unemployment issues. Roosevelt had to make a change in our economy; we all know it as the new deal. The new deal was such an important program for…show more content…
Since voluntary was more favored than compulsory insurance. The French system never respected the United States; social insurance program gave limited benefits for the population. While Germany established the national health insurance way before the United States. The United States used, the risk of the workmen’s compensation and health insurance that protected old age, which was one of the earliest social insurance program in the 1930’s. (Altmeyer, 1966) According to the enactment of the law, social security wasn’t used correctly in 1933-1934 when Roosevelt created the committee on economic security; economic security was to create programs for legislation. The economic security act was more powerful than social insurance. However, it wasn’t comparable to the committee; it still offered unemployment compensation, old age insurance, old age pensions and support for dependent children as well as federal finance for the health program. There was an issue with the old age security with financial difficulties which therefore changed the name of social security instead due the agreement between William green and Abraham Epstein. Roosevelt kept social security as a comprehensive system by protecting the citizens with the economic hazards in 1910. During the 1930’s there was an issue with the insurance policy for children that aimed directly towards the social insurance program. Social
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