Tap here to turn on desktop notifications to get the news sent straight to you. Barry Rand For the last several months, AARP has been calling for a national conversation about the future of Social Security focused on protecting and strengthening it so current beneficiaries and future generations receive the benefits they have earned. Our discussion has centered on the vital role Social Security plays as the critical foundation of income security for the vast majority of people.
Roosevelt signed the Social Security Act into law on August 14, Roosevelt would be proud and gratified. Today, more than eight decades since the Social Security program began, the nine digits that guarantee retirement benefits have become essentially every American's ID number.
Everywhere we turn — from getting paid for an after-school job to buying a house — Americans are asked to provide their Social Security number. Without those nine digits, we don't really exist as U.
The Social Security number's influence evolved over time. Roosevelt signed the Social Security Act into law on August 14,in the middle of the Great Depression, with destitution stalking every community and family support structures crumbling.
During his first years in office, even as he directed his energies toward programs that would put unemployed Americans immediately to work, a movement took hold to provide for workers when they could no longer earn a living.
Most other industrialized nations offered financial support to individuals in need, but the concept was foreign to this country. Though FDR found trained experts from both parties to work on the problem, they barely knew where to start.
Theft of Social Security numbers is shockingly common. One top data scientist estimates that 60 to 80 percent of Social Security numbers have been stolen by hackers. If you're the victim of identity theft — and you can prove your Social Security number has been abused — the Social Security Administration may issue you a new SSN.
The agency can be hard to convince, though. In all ofit replaced only around Social Security numbers because of misuse. But they hit on a simple and elegant solution: Workers would contribute with every paycheck and receive a monthly stipend in the mail upon reaching retirement age.
In the debate that followed the proposal, some people asserted it changed the very fabric of America. A representative of the National Association of Manufacturers testified before Congress that Social Security would represent "ultimate socialist control of life and industry. A year after the complex program passed, it was ready to register the American public.
Or at least most of the American public: Self-employed professionals, such as doctors and lawyers, were not invited to participate, on the theory that they could provide for their own retirement.
And domestic workers and field hands were excluded, a stipulation debated today — was it because of tacit racism or the pragmatic considerations of withholding taxes? Worker participation began with filling out a short application, initially at the post office, to receive a paper card. Critics likened the process to the social engineering used in fascist nations, notably Nazi Germany, predicting that American workers would be forced to wear metal tags on chains around their necks and charging that "surveillance is a part of the plans of the Roosevelt administration.
At first, some confused American workers applied over and over again, receiving a handful of numbers, and they were soon asked to return the extras.
From the point of view of the administrators, the beauty of Social Security was simple, as well as entirely new: Each insured American had one number, and each number had one American. So many people applied during the program's first weeks in November that clerks and typists were added by the thousands in big cities.
If the managers couldn't keep up, neither could the program's publicists. Every new development or statistical benchmark was heralded as a modern miracle. The first card was issued to John D. Seeing the swarm of reporters clamoring to meet him, "he considered leaving by the club's rear entrance," according to one journalist.
Sweeney finally stayed and answered questions:Oct 14, · Social Security is much more than the foundation of income security for people as they get older. Because of its multiplier effect, it is also an important contributor to our overall economic health.
The Goals of Social Security Reform Edward M. Granlich* First off, you are probably wondering why a Federal Reserve Governor is talking about Social Security. Social Security is the foundation of economic security for millions of Americans—retirees, disabled persons, and families of retired, disabled or deceased workers.
About million Americans pay Social Security taxes and 61 million collect monthly benefits. Mar 15, · In an interview with Marc J. Epstein, coauthor of the new book titled Measuring and Improving Social Impacts: A Guide for Nonprofits, Companies, and Impact .
Social Security Act, (Aug. 14, ), original U.S.
legislation establishing a permanent national old-age pension system through employer and employee contributions; the system was later extended to include dependents, the disabled, and other groups. There was initially some negative impact, as Social Security was paid through a withholding tax, and the incomes of taxpayers were reduced.
Also, certain classes of people, such as farm workers.