The Social Security Act has supplied Americans with a lot-wanted monetary help once they want it most. For many of America’s most weak, it’s the one supply of earnings they have. President Obama‘s administration quickly reduced the Social Security tax price from 6.2 to 4.2 p.c in 2011 and 2012. The move helped ease financial pressure on American employees however did little to cease the danger of Social Security going into future debt. In 1960, President Dwight D. Eisenhower permitted legislation to permit Social Security advantages for disabled workers and their dependents.
In the Fifties, amendments have been made which prolonged Social Security eligibility to home and farm employees, non-farm self-employed professionals and some federal employees. It additionally supplied voluntary protection to some state and federal employees, hundreds of 1000’s of nonprofit staff and staff in the Virgin Islands and Puerto Rico. On August 10, 1939, an amendment passed to … Read MoreRead More »