The Social Security Act of 1935
The Social Security Act of 1935 revolutionized the economic
state for retired people and installed new systems and balances in
which people are rewarded for being long term taxpayers. This
act was signed in by President Franklin D. Roosevelt. People who
are out of a job / retired 62 years old, and or 40 social security
credits are eligible for this monthly check. Although it is
taxpayers’ money, the government insists on burning it all now so
people in the later generation will not have any left to thrive for
themselves.
This act being signed into “law” was a major turning point in
economic standards / overall history. As it instated a new way to
process where YOUR money is going. Only yours if you are not
retired and eligible for such checks every month. This was a more
of new thing but needed for the time, and now! This overall
change just helped provide elderly assistance for everyone over
the age of 62 and retired. This includes retirement homes, resting
places, any place where people work to house older and retired
people. This is the first law to support older retired residents of
America. As ballotpedia.org states... “The Social Security Act
was the first significant federal legislation designed to
support retired individuals.” It is a big change.
Americans across the country very much accepted the idea
of giving portions of their tax money to people in need like retired
and disabled people. It was an overwhelmingly positive overall
reception from society. At first most thought that it would be a
problem that others knew that their money paid to the
government was directly going to something THEY support. The
main reason it was brought to Franklin Roosevelt at first, was to
address the economic state and or problematic structure of the
elderly and disabled people. As they were treated unfair for being
old or just being born with a deficit. The problem which was very
successful and still carries out to this day.
Although with positive, there is always a negative. Money is
not infinite, and if it where it would not have a meaning or actual
value to the economy. We are all eventually going to run out of
tax money to give to the government to provide these people in
need with the compensation they require. This leads to the
thought of you being currently young (below the ages of 20-30)
and are NOT retired, you have a very slim chance of having a
period where you receive a social security check. As pgdf.org
states in its article about the pressing matter: “Unfortunately,
without reform, the combined Social Security trust funds
will be depleted in 2035, at which point program benefits
would be reduced by 17 percent.” Meaning in the next 10
years alone there will not be any more social security checks! You
are just having to work a job / employment at an older age and or
be housed by people who technically are not under the pay and or
compensation they should be receiving.
In conclusion, social security checks are important to others
and everyone around the globe. Although they are rocky due to
the limited number / value of them overall it still worked then, and
continues to work now. Until the future tells us what we need to
start working on as a society, only time could tell. Thank you.
