Was Social Security Affecting Business Socially?

In 1935, America went through a lot and they were still struggling to industrialize and stand up on their own feet. However, to what extent did Social Security hinder business economically? Moreover, the steps up the hill were hard because America was going through the Great Depression. The stock market crashed and 1929 but the effects were still the same during 1935. In 1935, Social Security Act was published under the the New Deal. Social Security Act was supposedly displayed for people who were unemployed, disabled, and for older citizens who retired could not afford medicine, food, and shelter. In the beginning, if somebody who was old in your family would have been taken care of by you or your relatives however, this Act helped retired

workers preserving their own income. Furthermore, sustaining the Social Security Act was hard because this would increase the debt rate in the United States. In the text, Social Security Investment Shortfall it states, “reduced US and global economic growth and increased the national debt” chronically stating the fact the economic growth will increase but we will be in debt for other countries. In this text, it also stated that the debt could of went to $4 trillion and let’s remember that this state is happening during the Great Depression.People in America, were slowly moving out of this because this money was given little by little just like you would save money in a bank but this is sent to the government until you retire and then all the money you ever saved will be sent back slowly. In the text it states, “Individuals were permitted no reduction in taxable income for contributions into the trust fund.” (International Journal of Business & Public,September 1, 2015). Moreover, stating the fact that they still had to pay taxes even if the gave money to the Social Security Act as a retiring plan.

People who were most benefitted at the old age of 65 and above and around this age. Men who were not married did receive more money at the age or around the age of 66 from the Social Security Act. However, people who were not married in general received almost the same amount as the men who received the money at the age of 66. In the text it states, “impact of this small variation in income on outcome variables can be swamped by the underlying cohort-to-cohort differences in these outcomes.” (Journal of Economic & Social, March 1, 2011). They suppose that the Notch will have a small chance to link to the income moreover will the text states that not everything is about mortality and people shouldn’t focus on labor difference because in the end all ties down how much of an effect people have in their lives. In the text it states, “Notch is a clear example of the general issue they raise.” explaining that it was a success (Journal of Economic & Social, March 1, 2011). For the reason of law changes that were changed around 1935 gave the impression of having a higher income earned by people who had retired. The mortality unnatural cohorts magnitude displayed a similarity by other identical mortality.

Women were in labor after WW II because soldiers were coming home.

Women took after men’s jobs when men went to work in the military. Most women went back to being a housewives while others insisted to keep working because that was their passion. Women started getting the feelings to work and passion to work hard for money. As women started getting their freedom of rights their chances to apply for social security reduced. It is still reducing because women are getting higher in the status level of their jobs. As the article states, “fewer wives in more recent birth cohorts will be eligible for auxiliary benefits as spouse because their earnings are too high” explaining they will be eligible to get SSA even if their earning more than them (Social Security Bulletin. 2012, Vol. 72 Issue 1, p1-9. 9p. 2 Charts, 5 Graphs.). When the Social Security Act started in 1935 it was very racist against blacks. Well it wasn’t quite said aloud that blacks weren’t allowed to have social security but most of the people the were excluded were the blacks since blacks were still working in farming or such like while most whites had moved on to more city like jobs. People with degrees started collecting data and figuring out if this was done on purpose. But the author doesn’t fail to mention that this theory isn’t supported with existing evidence. Evidence also supported that it was business reasons that the wealthier people got social security rather than the poor. No more proof was given after that statement. In the text it states clearly. “Among the excluded groups were agricultural and domestic workers--a large percentage of whom were African Americans.” how African Americans were excluded (Social Security Bulletin. 2010, Vol. 70 Issue 4, p49-68. 20p. 1

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Workers are taxed no matter what and their taxes goes to other companies who are sent out for the government to take care of the for example like firefighter and police and so on. In the text it states, “ The tax borne by employers is a charge on industry, like other costs of doing business.” (Mary Ross " Why Social Security?," Annals of American History.). It also states in the text that “business in a state which has unemployment compensation shall not be penalized in competition with business in states which do not.” (Mary Ross " Why Social Security?," Annals of American History.).