To: GraceZ who wrote (21045 ) 1/11/2005 2:08:22 PM From: mishedlo Read Replies (1) | Respond to of 116555 It had wonderful intentions, let's give some of our poorest elderly a pension in their old age. In order to prevent a possibility of say 2% of the population of elderly citizens (a very real estimate from the 30s, when these programs were introduced) GH on the FOOL writes: Absolutely and WILDLY untrue. The number of elder Americans living in poverty in the 1930's was over 50%. Even in the 1920's it was around 25%. Following the outbreak of the Great Depression, poverty among the elderly grew dramatically. The best estimates are that in 1934 over half of the elderly in America lacked sufficient income to be self-supporting.ssa.gov boards.fool.com That was largely due to population migration to the cities. Before around 1910, well over half the population lived on farms. They were born there, they worked there, they lived with their children until they could no longer work, and then they died. With the coming of the industrial revolution, and particularly with mass production in the early 1900's, people moved in droves to the cities - for factory jobs, for greater income, for more choice in their livelihood, to the point where the "balance" was more than 50% by 1920, and far more than 50% by 1930. That left the "family support system" in tatters, and you found elder Americans without the family around them to provide for them. Social Security didn't "cause" it, the creation of the program was a reaction to it. And the number was far greater than "2%". As it is today, BTW. A recent survey showed that about 50% of elder Americans have no other source of income than their Social Security income. Good, bad, or indifferent, that's just fact.