The Social Security Act

The Social Security Act, established in 1935 in the United States, created a social insurance program to provide financial support to individuals during retirement, disability, and certain family situations. It includes benefits for elderly citizens, disabled individuals, and survivors of deceased workers. Funded through payroll taxes, the program seeks to reduce poverty and ensure a basic standard of living for those in need. Over the years, it has evolved to include Medicare and Medicaid, expanding healthcare coverage for the elderly and low-income individuals. The Act remains a cornerstone of the American social safety net today.