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.
