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Social Security Program during the Roosevelt Administration
The Social Security program created during the Roosevelt administration was a landmark piece of legislation aimed at providing financial security for retired and disabled individuals. It was signed into law by President Franklin D. Roosevelt in 1935 as part of the New Deal. The program established a system of social insurance through payroll taxes, providing benefits to eligible individuals and their dependents.
One key feature of the Social Security program is that it is funded through payroll taxes. Both employees and employers contribute a percentage of wages to the program. These funds are used to pay out benefits to retirees, disabled individuals, and surviving spouses and children of deceased workers.
The Social Security program also introduced the concept of a Social Security number, which serves as a unique identifier for individuals and is used for tracking earnings and determining eligibility for benefits. The program has evolved over time, with amendments and expansions to cover more individuals and provide additional benefits.
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