Social Security Act
Published on Nov 22, 2015
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
THE SOCIAL SECURITY ACT EFFECTED
OLDER AND DISABLED AMERICANS. 🇺🇸
Untitled Slide
Photo by Gabriel 'Briel' Rocha
Which program did the most to expand opportunity for the target group of Americans it was designed to help??
At the time a lot of Americans were out of work. So in my opinion, I think the WPA (Works Progress Administration) did the most for America.
Photo by Jason A. Samfield
LABOR FORCE PARTICIPATION RATES IN PERCENT AGED 65 & OLDER
Most of the elderly we're not allowed in the work force during this time yet many wanted them to work until death. When the social security act was passed, there was a certain age set that these people could start getting the money and help that they deserved. The elderly were finally helped in many, many ways. 👵👴
The original Act provided for monthly retirement benefits, payable to persons 65 and older who were no longer working. The benefit formula was based on cumulative wages in covered employment. Specifically, monthly benefits equaled 1/2 of 1 percent of the first $3,000 of cumulative wages, plus 1/12 of 1 percent of the next $42,000, plus 1/24 of 1 percent of the next $84,000. This can be thought of, loosely speaking, as a typical benefit because the average worker at the time earned about $100 a month (which totals $6,000 after 5 years). Thus, although the Social Security Act was enacted in the middle of the Great Depression, it originally envisioned relatively small benefits that were not payable for several years.
Photo by kevin dooley
The Social Security Act made things easier for the elderly and disabled Americans. Most of these citizens were forced to work even though they were old or disabled. This act changed their lives. With the Social Security Act, these citizens could take out Social Security benefits and receive money without working.
Photo by Pink Sherbet Photography
In my opinion, I think the Social Security Act was a great thing for America and all of our citizens. It made life a lot easier and changed many lives. The government did a great thing by passing this Act. Many elderly Americans and disabled Americans and receiving Social Security right now all because of this Act. Many Americans are probably very thankful for the Social Security Act.
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