When social security was signed into law by president roosevelt, what was the percentage of population over the age of 65 compared with today?

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babyt2010 babyt2010

11-08-2022
Social Studies

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When social security was signed into law by president roosevelt, what was the percentage of population over the age of 65 compared with today?

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RajarshiG RajarshiG · Answer 1 · 2022-08-19T01:36:53+02:00

President Roosevelt signed social security act into law in 1935 at 74th United States Congress with 5.4% of people who were or above 65 years which was the life expectancy of US.

Social Security Act was designed to pay continue income to workers after retirement whose age was 65 or above. It provided benefits to workers, victims of industrial accidents, dependent mothers and children and disabled workers.

About 5.4% of people were 65 or older when Social Security Act in 1935 was passed. Since than the percentage has doubled and is considered to be tripled by 2030 as the life expectancy of US has also been increased by 18 years as recorded in 2000.

To learn more about Life expectancy of US here

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