Financial Policy in Old-Age and Survivors Insurance, 1935–50
نویسنده
چکیده
S IGNIFICANT debates on the financing of old-age and survivors insurance preceded and accompanied the enactment of the original Social Security Act of 1935 and its revisions in 1939 and in 1950. Contribution rates, reserve fund accumulation, and current-cost versus levelpremiilm financing were the topics most widely debated. The same issues were involved in the discussions that led Congress to freeze repeatedly the employer-employee contribution rates at 1 percent each from 1937 through 1949. A brief review of these discussions and of the legislative action taken during the first 15 years of the Social Security Act should be helpful in any consideration of future financial policies.
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