On August 14, 1935, President Franklin D. Roosevelt signed the Social Security Act, which changed Americans’ lives forever by providing economic security for retirees and government unemployment insurance for the unemployed.
“Today a long-held hope has been largely realized. The civilization of the last hundred years, with its surprising industrial changes, has made life increasingly precarious,” said Roosevelt. said with the signing of the law.
“Young people are wondering what to expect when they grow old,” he continued. “People with jobs are wondering how long they will have that job. This social security measure will provide at least some protection to 30 million of our citizens. They will benefit directly from unemployment benefits, old-age pensions and expanded benefits to protect children and prevent disease.”
And that’s exactly what the government has been doing all these years, as Social Security Works, an organization that fights to protect Social Security, Medicare and Medicaid, documents:
Over 66 million About one in five Americans relies on Social Security.
To half of all senior citizens rely primarily on social insurance to cover their income.
A quarter of seniors rely on it for almost their entire income (90% or more).
Social Security benefits are modest but essential, averaging about $20,000 per year.
social security raises 22.5 million Americans, including over 1 million children, out of poverty and reduces the depth of poverty for millions more. Without them, the poverty rate among our senior citizens would be 38%; instead, it is just under 9%.
It is a highly efficient program, with administrative costs of less than one cent on the dollar. Social Security protection is estimated to have a current value of over $675,000 in life insurance and $700,000 in disability insurance for a married 30-year-old worker with average income and two young children.
Social Security has become a lifeline for millions. Almost 70% of voters rate it as a very important or most important issue when it comes to who they will vote for this year, according to a recent poll by Hart Research/Public Opinion Strategies on behalf of CNBC.
And for these Americans, it should be an obvious choice this fall. Democratic presidential candidate Kamala Harris has a record of policy positions that would not only preserve Social Security but make it work better, including an extension of the cost-of-living adjustment and a $200-a-month benefit increase. That should be good news for the 62% of likely voters who want a government increase in Social Security benefits, according to a February survey by Data for Progress.
Democrats in CongressDemocrats have also regularly pushed for legislation to increase benefits and strengthen the program’s trust fund to keep it stable. And a President Harris could not achieve those goals unless Democrats gain majorities in both the Senate and the House.
But what do the Republicans want? Donald Trump was in officehe regularly tried to undermine the program by proposing drastic spending cuts. And Republicans in the House of Representatives countered Democrats’ efforts to expand the program with cuts, including increasing Retirement age up to 70.
If you care about Roosevelt’s legacy and your own future, this is an easy decision.
If you want to help make America the place it should be, you must start by voting Democrat, especially at the top! Donate to put Kamala Harris in the White House!
