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Social Security History Lesson

October 4, 2010

Found this lesson on social security.  Did not verify each fact reported.

So if there are discrepancies email (don’t Yell) and back up any statement.  I also don’t have a link so DB Meyer.  If you have a link send it over.

HISTORY LESSON ON SOCIAL SECURITY CARDS

With the elections just a little over 4 months away you’ll soon be
hearing some Democrats running for political office, warning how the
Republicans want to take away the old people’s Social Security.
Here are some facts you can pass along to all friends in your book.
Education is a good thing and these facts can be easily proven.

  • 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.
  • Find an old Social Security card with the “NOT FOR IDENTIFICATION” message.

CURRENT SOCIAL SECURITY PROGRAM AND PROBLEMS

  • Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program.  He promised:
    • Then: That participation in the Program would be Completely voluntary,
    • Now: No longer Voluntary

  • Then: 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

  • Then: That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,

  • Now: No longer tax deductible

  • Then: 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,

  • Now: Under Johnson (D) the money was moved to The General Fund and Spent

  • Then: That the annuity payments to the retirees would never be taxed as
    income.

  • Now: 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:

POLITICAL PARTY SOCIAL SECURITY TRIVIA


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 start giving annuity payments to immigrants?

A: 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!
***

MORAL OF THE STORY.

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

The authors of this site understand people’s hesitation and reluctance to trust the private banking sector after the current banking crisis and a showing of complete incompetence by the Federal Government, Ratings Companies and SEC.  However, government control of the Social Security Trust Fund is, has been and will continue to be a complete disaster.

Why shouldn’t people have the option, government v. private. Federal v. state control.   Where if you opt for private, Federal and state plans can’t tap into yours to make it solvent.  If you opt for a state plan over a federal one, the federal government cannot tax you to compensate for its fiscal irresponsibility.
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One Comment
  1. Here is a great infographic that explains the evolution of Social Security. I found it to be very interesting. http://bit.ly/SSHistory

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