social security act
The Great Depression
Start of the social system
Who did it help
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.