Social Security Signed: FDR Creates America's Safety Net
Franklin Roosevelt signed the Social Security Act into law on August 14, 1935, creating the first federal safety net for elderly Americans. Before Social Security, roughly half of all Americans over 65 lived in poverty, dependent on children or charity. The Act established a payroll tax that funded monthly retirement benefits starting at age 65. The first monthly check went to Ida May Fuller of Ludlow, Vermont, in January 1940: $22.54. She had paid a total of $24.75 in taxes. She lived to 100 and collected $22,889. Critics called it socialism; supporters called it civilization. The program now provides benefits to over 70 million Americans and is the largest single expenditure of the federal government.
August 14, 1935
91 years ago
Key Figures & Places
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