Sunday, September 16, 2012

York PC 112: A Democrat And Laborer's Guide To Gratitude And Accomplishmen - Part 2: Social Security

A Democrat And Laborer's Guide To Gratitude And Accomplishment

By Daniel A. Stafford © 2012

Part 2: Social Security

“Shortly after the 74th Congress convened in January 1935, President Roosevelt sent his "Economic Security Bill" to Capitol Hill. The Administration proposal was transmitted to the Congress on January 17, 1935 and it was introduced that same day in the Senate by Senator Robert Wagner (D-NY) and in the House by Congressman Robert Doughton (D-NC) and David Lewis (D-MD). ” [1]

As you can see here, every person directly involved in bringing this legislation to congress for consideration was a Democrat. Another Democrat later changed the name of the proposed legislation to “Social Security Act of 1935”. [1]

On August 14, 1935 President Roosevelt signed the bill into law at a ceremony in the White House Cabinet Room.
Congressional Vote Totals By Party
 HOUSE (4/19/35) Democrats Republicans Farm Labor Progressive/Other
Yes
284
81
1
6
No
15
15
2
1
Not Voting
20
4
0
1
Present
0
2
0
0
SENATE (6/19/35) Democrats Republicans Farm Labor Progressive
Yes
60
16
1
0
No
1
5
0
0
Not Voting
8
4
0
0
[1]

Social Security IS NOT a part of the overall federal budget and is funded by a separate Social Security tax, not the general income tax that funds the rest of the federal budget excepting Medicare / Medicaid. Therefore, Social Security is not a part of the federal budget deficit.

“Social Security is primarily funded through dedicated payroll taxes called Federal Insurance Contributions Act tax (FICA). Tax deposits are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund which comprise the Social Security Trust Fund.[4] ” [2]

Life before Social Security was very different from life after Social Security. [3] Prior to Social Security, seniors worked until they were no longer able to, and then were forced to live with younger relatives if they were lucky, or sent to “poor houses” with orphans, unwed mothers, the disabled, etc. if they were less lucky. For those who could find neither option, there was only homelessness and destitution. Life expectancy in the USA was around 49 years on average. Almost no one could even imagine a retirement or leisure after a working career, it was unheard-of.

Today, most people of retirement age are able to live in their own homes, have hobbies, travel, and pursue their own interests in life once past retirement age. They have a stable if smaller income, and if careful, can live quite a few years “doing their own thing” after 65 years of working. This is partly due to medical advances, and pension plans and 401k accounts. However, the baseline financial stability provided by Social Security – which retirees now have paid into all their working lives – is a huge part of the reason this is the picture instead of what normal was prior to Social Security.

I, for one, am very grateful for Social Security, and I sincerely hope to see it preserved.

References:





Dan Stafford
Democratic Precinct Committeeman
York Township precinct 112
DuPage county, IL
http://york112dem.blogspot.com

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