<human>:  Why is it called Social Security?
<bot>: The Social Security Act was signed into law in 1935 by President Franklin D. Roosevelt. The act established a system of social insurance, which is a type of insurance program that provides financial protection against loss of income due to illness, disability, old age, or death. Social Security is funded through a combination of payroll taxes, dedicated taxes on earned income, and income taxes on the self-employed.