On August 14, 1935, Social Security (originally Economic Security) was founded under President Franklin D. Roosevelt. This was one of the most important laws created during his amazing career as President of the United States. Before the Social Security Act came into force in 1935, actions against survivors or pensioners already existed. There were pensions that were started for soldiers who fought in the Civil War. ; and private organizations created to assist the poor or disabled. The country believed that this act was necessary for the improvement of the US economy, which was suffering due to the Great Depression. The basic Social Security plan then, as now, requires that there is a Social Security tax (6.2%) imposed on most employees and employers. A calculated percentage is given to pensioners and disabled workers who were under social security insured employment. In January 1937 the first benefit payments began and word spread about Social Security. Over 222,000 people had signed up for Social Security in the first two years of its creation. At first the money was paid only to the main worker of the family. Even though there were small flaws in the system at first, it was a success. Early on, Social Security's main effect was to provide a safety net for families worried about being unable to save money and retire. The Social Security Act was the first federal law to provide financial protection to the entire country. Calculating workers' benefits and determining exactly how much insurance a citizen should receive was the main priority. First, the two defined groups of people who would receive the benefits were the elderly and war survivors. In 1939, changes were made to the system. The government... at the center of the document... Works Cited"Social Security". Administration: basic facts. Social Security Administration, April 2, 2014. Web. April 23, 2014."Social Security." History. Social Security Administration and Web. April 25, 2014. King, Gary and Samir S. Soneji. “Social Security: It's Worse Than You Think.” The New York Times. The New York Times, January 5, 2013. Web. April 25, 2014."Social Security." Program rules. Social Security Administration and Web. April 25, 2014. "Center for Social Security Reform - History." Center for Social Security Reform. Social Security Administration, March 4, 2014. Web. April 28, 2014. Administration, Social Security. “SSA Appropriation Request Summary Table.” FY 2015 Congressional justification (nd): n. page Network. May 9, 2014."Social security, present and future." The New York Times. Ed. The editorial board. The New York Times, March 30, 2013. Web. May 10 2014
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