History Lesson on Social Security

[red states rule]

Got this in an email and thought i would share it



Just in case some of you young whippersnappers (& some older ones) didn't know this.
It's easy to check out, if you don't believe it. Be sure and show it to your family and friends. They need a little history lesson on what's what and it doesn't matterwhether you are Democrat or Republican.

Facts are Facts.

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.

An old Social Security card with the "NOT FOR IDENTIFICATION" message.
Our Social Security

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

1.) That participation in the Program would be completely voluntary,
Nw it is 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 of us 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?

A: It was Lyndon Johnson and the democratically controlled House and Senate.

------------ --------- --------- --------- --------- --------- --------- --

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

A: The Democratic Party.

------------ --------- --------- --------- --------- --------- --------- -----

Q: Which Political Party started taxing Social Security annuities?

A: 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 startgiving annuity payments to immigrants?

AND MY FAVORITE:

A: That's right!

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!

------------ -- ------------ --------- ----- ------------ --------- ---------

Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!

[SpidermanTUba]

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



Which makes it a partial de-facto regressive income tax on the poor and middle class, cant' see why a righty would oppose this.

[Missileman]

Which makes it a partial de-facto regressive income tax on the poor and middle class, cant' see why a righty would oppose this.

The lefties are the tax and spend culprits, tard...or maybe you're being sarcastic again.

[red states rule]

The lefties are the tax and spend culprits, tard...or maybe you're being sarcastic again.

It is amazing how the left thinks that tax cuts hurt poor people and those who support them are uncompassionate but at the same time tax and spend liberalsim is responsible for the government taking 30% from the "poors" paychecks

[fj1200]

Which makes it a partial de-facto regressive income tax on the poor and middle class, cant' see why a righty would oppose this.

From a tax perspective it's neither partial nor de-facto it is regressive. From a retirement/insurance program it is neither as it provides more to the lower incomes than higher incomes in terms of contributions. It is discriminatory though as it keeps the lower income and those with shorter life expectancies beholden to a government program. SS steals a lifetime of contributions and keeps Americans from building wealth that could be passed on to future generations not to mention raising the cost of labor on the least efficient of workers. There is nothing good about SS in its current form.

But your "righty" comment is ridiculous as it is everything that libs are for (keeping citizens dependent on government) and nothing that conservatives would be for (encouraging self reliance).

[red states rule]

From a tax perspective it's neither partial nor de-facto it is regressive. From a retirement/insurance program it is neither as it provides more to the lower incomes than higher incomes in terms of contributions. It is discriminatory though as it keeps the lower income and those with shorter life expectancies beholden to a government program. SS steals a lifetime of contributions and keeps Americans from building wealth that could be passed on to future generations not to mention raising the cost of labor on the least efficient of workers. There is nothing good about SS in its current form.

But your "righty" comment is ridiculous as it is everything that libs are for (keeping citizens dependent on government) and nothing that conservatives would be for (encouraging self reliance).

That was the intent of SS from the very beginning. To confiscate wealth from the private sector for the benefit of government

IF you live to collect SS you might get a 2% return on the money you paid in - assuming SS is still aorund when you are ready to collect your pennies on the dollar