Privatize Social Security
Privatize Social Security: Americans are Smart Enough to Invest for Themselves The beginning of the 20th century was a very hard time for America and its citizens. After the Industrial Revolution and the Great War came the Great Depression. The economy was crashing, and crashing fast; the stock market crashed twice in one week, thousands of people were laid off, and businesses went bankrupt. These were definitely the hardest of times and the people were looking for help. On June 8, 1934, President Franklin D. Roosevelt announces to congress that he intended to provide a program for Social Security. He created the Committee on Economic Security to study the entire problem of the economy and to provide any recommendations that would help congress make a legislative consideration. In early January 1935, the committee gave the report to Roosevelt and on January 17 he presented it to congress. On August 14, 1935 the Social Security Act was pass into law by President Roosevelt. The act was to help people in need of general welfare and pay retired workers age 65 or older a continuing income after retirement. The program later change to include unemployment insurance, old-age assistance, aid to dependant children, and gra
EBSCOhost: Academic Search FT Select - Disc 1. EBSCOhost: Academic Search FT Select - Disc 1. Social Security is in serious trouble and the United States must act fast before it is too late. 2%--on only the first $65,400 of income, so those who earn more pay much less than 6. 4 percent-to avoid having to raise the tax rate by a much larger percentage down the road" (16). If they did know they would most likely would want to change the system. "French Plan to Bail Out Social Security System".
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