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Paper Topic:

Social Security Act

The United States Social Security System

In 1929 , the New York stock market crashed . With the crash , literally thousands of people lost their entire life savings . Banks collapsed businesses closed , and the country sank into the Great Depression President Hoover did so little to remedy the situation that the small cardboard shacks that sprung up in parks around the major cities were called Hoover-villes ' By the time Franklin Delano Roosevelt ran for president , the country was ready for a change . Part of his platform for his presidency was the New Deal , which

led to social security , among other saving graces

The United States Social Security system , which is the common name for the Federal Old-Age , Survivors , and Disability Insurance (OASDI program , is the largest social insurance program in the world . The Social Security Act , also known as the Old Age Pension Act , was signed into law on August 14 , 1935 , by President Roosevelt . It provided benefits for the retired and unemployed by taxing those who were currently employed through a payroll tax . The premise of the Social Security system was the same 72 years ago as it is today , to provide financial security and stability to the common working man ( HYPERLINK "http /en .wikipedia .org /wiki /Social_Security_Act http /en .wikipedia .org /wiki /Social_Security_Act

Although today we take it for granted , the signing of the Social Security Act in 1935 marked a major milestone in America by turning the tides of the Great Depression . It protected the money of the working people , and it ensured that peoples ' life savings would not be lost in a bank collapse . It also provided for security in retirement by giving a regular , fixed income to all of the people who had served and worked faithfully in the country for generations . It was the idea as much as it was the actual promise : the country would take care of its citizens because its citizens had provided so much service for it during their young lives

President Roosevelt believed so strongly in the Social Security system that he was willing to change laws for it . When he tried to get it signed into law and the bill was struck down by Congress , he retaliated by helping to pass a bill that allowed the President to appoint new federal Justices if the current Justices were older than 70 . By doing so , he was able to appoint 6 new Justices and effectively rig the vote in his favor . While Congress and the Supreme Court were not at all thrilled with his decision , Roosevelt used his advantage to ultimately pass the bill . Although there was a debate surrounding the merits of the system , this Justice stacking ensured that the bill would be sustained in May of 1937 ( HYPERLINK "http /en .wikipedia .org /wiki /Social_Security_Act http /en .wikipedia .org /wiki /Social_Security_Act

Although some likely felt this was merely a power move on Roosevelt 's part and that it was unwarranted , Roosevelt 's guts allowed him to pass a bill that became...

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