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Apr 10

History of the Social Security System

http://stephansmithfx.com/wp-content/uploads/2010/09/Arrow-Going-Down-on-Chart.jpgSee the questions below.  Answers in red, as in government ink.

Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now
has a number, it became convenient to use it anyway and the message, NOT FOR IDENTIFICATION, was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:

1.) That participation in the Program would be Completely voluntary.

No longer Voluntary

2.) That the participants would only have to pay 1% of the first $1,400 of their annual
Incomes into the Program,

Now 7.65% on the first $90,000

3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,

No longer tax deductible

4.) That the money the participants put into the independent ‘Trust Fund’ rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,

Under Johnson the money was moved to The General Fund and Spent

5.) That the annuity payments to the retirees would never be taxed as income.

Under Clinton & Gore Up to 85% of your Social Security can be Taxed

Since many have paid into FICA for years and are now receiving a Social Security check every month — and then finding that we are getting taxed on 85% of the money we paid to the Federal government to ‘put away’ — you may be interested in the following:

Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the general fund so that Congress could spend it?

Lyndon Johnson and the democratically controlled House and Senate. 

Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?

The Democratic Party. 

Q: Which Political Party started taxing Social Security annuities?

The Democratic Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US 

Q: Which Political Party decided to start giving annuity payments to immigrants?

Jimmy Carter and the Democratic Party.   Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!