Social Security Act of 1935

The Social Security Act of 1935 was a landmark law in the United States that created a system of financial support for retired workers, the unemployed, and certain vulnerable groups. It established provisions for regular income for retirees through payroll taxes, helped provide unemployment insurance, and assisted those with disabilities or limited income. The law aimed to reduce poverty among the elderly and promote economic stability by ensuring that individuals had financial security during retirement or hard times. Over time, it has expanded to include various benefits, becoming a cornerstone of the U.S. social safety net.