Mises Daily
Author:
David Stockman
Online Publish Date:
[Excerpt from THE GREAT DEFORMATION: The Corruption of Capitalism in America by David A. Stockman . Published by PublicAffairs.] The Social Security Act of 1935 had virtually nothing to do with ending the depression, and if anything it had a contractionary impact. Payroll taxes began in 1937 while regular benefit payments did not commence until