The "Social Security Act of 1935" is a major source of citizen entitlements for the indigent, unemployed, aged, persons with disabilities, and children and families.
What is Social Security Act of 1935?
A permanent national aged pension system was established by the Social Security Act (August 14, 1935), the first piece of U.S. legislation; later, the system's benefits were expanded to cover dependents, the disabled, as well as other groups.
Some characteristics of Social Security Act of 1935 are-
- Francis E. Townsend's campaign for a $200 pension for everyone over 60 years old was supported by five million senior citizens who established nationwide Townsend clubs in the early 1930s in response to the Great Depression's economic effects.
- A committee on financial stability was established by President Franklin D. Roosevelt in 1934 to study the issue.
- After studying the committee's recommendations, Congress passed the Social Security Act in 1935, which established old-age benefits that would be paid for by a payroll tax on both employers and employees.
- The Social Security Act has indeed been modified on occasion, attempting to keep up with inflation by raising taxes, increasing the number of workers enrolled, and extending the types of coverage available.
To know more about Social Security Act of 1935, here
https://brainly.com/question/3645007
#SPJ4
