by Jonathan Reisman

On August 14, 1935, President Roosevelt signed the Social Security Act, setting up a system of payroll taxes supporting retirees. The retirement age of 65 exceeded average life expectancy at the time by about a year. August 14th, 1935, was also my father’s 8th birthday, and in 10 years would be V - J Day, marking Japan’s surrender and the end of WWII.