social security act

The Great Depression

Intent

The Social Security Act was drafted during Franklin Delano Roosevelt's first term, under Frances Perkins. It was passed August 14th,1935. President Roosevelt became the first to institute social security.


Start of the social system

The Social Security act (SSA) was enacted august 14, 1935 was a legislature act which created the social security system in the us.

Who did it help

The act was there to relief all kinds of people that were struggling during the Great Depression and on the long term to prevent people from loosing all their money.

The act provided benefits to retirees and the unemployed, and a lump-sum benefit at death.

Payments to current retirees are financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer. There was also money for individuals like families with children, maternal and child welfare, public health and the physically impaired.