The Social Security Act was a major New Deal law that has impacted Americans to the present day. When this law was passed, it provided retirement benefits for people who were 65 years or older. It also provided unemployment benefits to those not working. The Social Security program also impacted people with disabilities. While there have been some modifications to the age when a person becomes eligible for full Social Security benefits, the premise of the program is basically the same now as it was when it was first created. The Social Security program is financed by taxes on the income of workers and by taxes on the payroll of companies.
This program has become a very important program in our country. Many retired people rely on the monthly benefit that they get from Social Security. For many people, this is their main source of income in retirement. Those who are unemployed or who have disabilities also rely on the monthly benefit to help pay for their living expenses. The Social Security program was another example of the safety net that was created by some of the New Deal programs. People have come to expect the government to help them during difficult times. This program provided some degree of security to the elderly and to those in need.