August 15, 2005
Social Security Celebrates 70th Anniversary
by Curtis S. Dubay
Yesterday marked the 70th anniversary of President Franklin Roosevelt’s signing the Social Security Act in 1935. See more about the history of Social Security here.
Social Security was designed as a system to keep the country’s senior citizens from falling into poverty. As originally constituted, Social Security was intended to be a social safety net to catch those falling on hard times and to provide a steady base of income for the retired.
One benefit of the recent debate is a growing awareness that Social Security cannot provide all the income necessary for recipients to live more and more comfortably.
On its 70th birthday, it may be a good time to look back at the program’s roots to rediscover its original intention.
Check out the Tax Foundation’s research on Social Security to learn more.
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