SOCIAL SECURITY LAW
80 years ago today, back in 1935, US Congress passed the Social Security Act and President Franklin D. Roosevelt immediately signed it into law.
Provides for federal contributions of up to $15 a month a person, starting soon, to help states pension their most needy aged residents.
Establishes a great national annuity system by which an estimated 25,000,000 workers and their employers will be taxed billions of dollars through the years, and workers will be paid $10 to $85 a month by the government when they are 65 and jobless.