1. American Econimics
... 1930's. In 1935, Congress passed the Social Security Act. This law became the basis of the U.S. social insurance system. It provided cash benefits to only retired workers in commerce or industry. In 1939, Congress amended the act to benefit and dependent children of retired workers and widows ... Participation in the social security system is required for about 95 percent of all U.S. workers. Social security differs from public assistance. Social security pays benefits to individuals, and their families, largely on the basis of work histories. Public assistance, or welfare, aids the need...
- Word Count: 2165
- Approx Pages: 9
- Grade Level: High School