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Social Changes In The United States During The 1920's

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The roaring twenties were a time of dramatic social and political change for the United States. During those years there was a big economic expansion, consumption and investment were growing and the nation’s total wealth doubled from 1920 to 1929. Definitely, it was a good time for the United States, and many inventions such as the home refrigeration and penicillin drove the United States into a new modern age. Nevertheless, these good times came to an end with the stock market crash of October 1929. Consumption and investment decreased dramatically during the next years and unemployment increased because companies were laying off workers. Almost 15 million Americans were unemployed at that time in 1933, so it was the works economic crisis …show more content…

Income security provided by the government such as the old-age and the unemployment insurance and Aid to Families with Dependent Children (AFDC). The old- age program from 1935 was the predecessor of today’s Social Security program. The unemployment insurance is the same as we have nowadays and the AFDC is the precursor to the Temporary Assistance for Needy Families program. (reference). The original Act of 1935 also focused their attention on some old-age programs that were run by the states, and later on it was transformed into the Supplemental Security Income (SSI) program that currently …show more content…

The Nation was more concerned about the war and they were trying to build up a healthy post-war economy. It was a hard time for the United States, as well as for many other countries. The number of beneficiaries increased significantly from 222,000 at the end of 1940 to more than three million in 1949 and the monthly benefits only grew from $22.60 in 1935 to $26 in 1940. The post-war era was a hard time for the country, many people were unemployed and the purchasing power decreased due to high inflation. At that time, the retirement benefits were not enough and that is the reason why the Council encouraged a general benefit increase. The minimum benefit was doubled and there was also an extension of coverage for other jobs, not only jobs in commerce and industry would receive retirement benefits, but also farm and domestic workers. In 1948, one of the extension that they did to the social insurance program was providing cash benefits to those people that were permanently disabled. Benefits would be paid after six months’ period to those with long lasting disabilities. As we know, in order to be able to increase the general benefits there is a need to finance it. For this reason, the 1950 amendments enlarged the contribution and benefit base. They increased the annual wages that were subject to Social Security taxes and they

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