The Social Security Act of 1935 has been around for over 70 years.

The Social Security Act of 1935 has been around for over 70 years. Do you believe it has “out lived” his usefulness? Is it really necessary in this day and age? Please answer in 225 words or less and cite url or references used for class discussion.

ANSWER:

The social security act of 1935 provides for the welfare of the people by a system of old age benefits, making more adequate provision for the aged persons, compensation for the unemployed people, blind persons, provision for maternal and child healthcare, public health etc. Social security program of the U.S is one of the largest in the world and government spend a greater percentage of expenditure on it.Social security Act was basically adopted with the purpose to provide American workers retirementsecurity. The social security act was funded by taxing the employees as well as employers and it has led to the creation of the pension system. Social Security act of 1935 has been the primary pillar of the social security. It has undergone several changes but still it’s a stable source of the welfare of the citizens of the country in terms of ensuring them the benefits of the social security. It has provided benefits to large number of Americans The social security act was designed to ensure the financial wellbeing of the eligible person. This act was the most successful and important and has laid down a system of financing it by payroll taxes. This act has benefitted large section of the society in terms of retirement benefits which is the most important feature of this act. Apart from these benefits the other benefits include unemployment insurance, benefits for the handicapped and poor families, assistance to the needy families etc. So it has been of a great help in providing social security benefits to the people. It is still necessary today as a stable source of security.References:

HYPERLINK “http://expertscolumn.com/content/social-security-act-1935″http://expertscolumn.com/content/social-security-act-1935 , The Social Security Act of 1935

HYPERLINK “http://www.nationalcenter.org/SocialSecurityAct.htm”http://www.nationalcenter.org/SocialSecurityAct.htm , The Social Security Act of 1935