Jump to ContentJump to Main Navigation
Governing AmericaThe Revival of Political History$
Users without a subscription are not able to see the full content.

Julian E. Zelizer

Print publication date: 2012

Print ISBN-13: 9780691150734

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691150734.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 24 July 2021

“Where Is the Money Coming From?”1 the Reconstruction of Social Security Finance

“Where Is the Money Coming From?”1 the Reconstruction of Social Security Finance

Chapter:
(p.153) Eight “Where Is the Money Coming From?”1 the Reconstruction of Social Security Finance
Source:
Governing America
Author(s):

Julian E. Zelizer

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691150734.003.0009

This chapter examines how Social Security finance was reconstructed in response to actions by Congress, which abolished the mandate for a large reserve and authorized the use of general revenue to pay for benefits when payroll taxes became insufficient. After describing the earmarked tax system created by Congress in 1935, the chapter considers the debate between 1939 and 1948 about the survival of the Social Security tax system and whether Social Security would be financed through the same monies as all other programs. It also looks at a cadre of policymakers, including Wilbur Mills and Robert Myers, who redesigned the earmarked tax system into the structure that defined the program until 1972. It shows that the earmarked tax system left the imprint of fiscal conservatism on Social Security by imposing certain long-term restrictions on the program.

Keywords:   taxes, Congress, Wilbur Mills, Robert Myers, fiscal conservatism, Social Security finance

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.