Most Americans don’t look at paystubs anymore. But they're a powerful reminder of the American labor movement.
employers could pay for the much more well-known 1935 Social Security Act. This landmark legislation included a lot more than federal pensions, or what most Americans mean now when they say the words “Social Security.” Labor Secretary Frances Perkins addressed Americans on Feb. 25, 1935 over the radio to explain that the most important part of the bill before Congress was insurance against unemployment.
“the greatest of all hazards.” At the time, unemployment was 20%. More than 10 million Americans could “plunge into destitution and dependency” while they searched for a job.There would also be money for “old-age security” in President Franklin Delano Roosevelt Administration’s broad plan for economic security . But Roosevelt did not take credit for that legislation.
“It is not good enough,” the president admitted in that speech. Citizens needed health care and sick leave. Millions also did not qualify for these protections because they picked crops, cleaned houses, or worked public sector jobs. “This must be set right,” Roosevelt said. “And it will be.” Americans are, of course, still waiting. Congress had originally limited Social Security because business leaders had lobbied hard to keep its guarantees meager; they wanted Americans to continue to rely on them for basic needs, like pensions and health insurance plans.
after World War II. But 30 years passed before Congress amended the Social Security Act to include Medicare, which the FICA deduction also pays for. Only “a small amount each payday” will be deducted, President Lyndon B. Johnson promised in his
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