Reference your Social Security Card; did you know?
That 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.
That Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be
(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… (But under President 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 start giving annuity payments to immigrants?
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! And the worst part about this is that uninformed citizens believe it! If enough people read this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe!
2010 A Timeline of the Evolution of Retirement in the United States Workplace Flexibility 2010, Georgetown University Law Center
This document provides key highlights in the history of retirement in the United States. It provides some background on how the concept of retirement, and its legal treatment, has evolved. This timeline does not include every law related to pension and retirement plans. Rather, it emphasizes those laws that have come to shape how we view retirement, particularly the tax laws that encouraged employers to establish pension and retirement plans in the first place. From 1875 to 2007… No one has posted the Obama years as of yet!
CORRECTING THE MYTHS AND MISSTATEMENTS
Per the Social Security, Federal Historical Site: Myth 1: President Roosevelt promised that participation in the program would be completely voluntary
Myth 1: (Per the social Security Historical site) President Roosevelt promised that participation in the program would be completely voluntary.
Persons working in employment covered by Social Security are subject to the FICA payroll tax. Like all taxes, this has never been voluntary. From the first days of the program to the present, anyone working on a job covered by Social Security has been obligated to pay their payroll taxes.
In the early years of the program, however, only about half the jobs in the economy were covered by Social Security. Thus one could work in non-covered employment and not have to pay FICA taxes (and of course, one would not be eligible to collect a future Social Security benefit). In that indirect sense, participation in Social Security was voluntary. However, if a job was covered, or became covered by subsequent law, then if a person worked at that job, participation in Social Security was mandatory.
There have only been a handful of exceptions to this rule, generally involving persons working for state/local governments. Under certain conditions, employees of state/local governments have been able to voluntarily choose to have their employment covered or not covered. ***
As you can see, the Liberals at this Social Security site skirts the truth and calls all statements of Social Security once being voluntary, “a Myth”, and in the same breath, though a short one, explains the truth of the statement! The taxes were not voluntary if your employer chose to provide funds to Social Security bypassing their need to offer their employees a retirement package! There was a choice and accessing Social Security, until Jimmy Carter’s presidency, was voluntary! They make the statement a “Myth” using the guise that everyone paid payroll taxes, and yes they did! But the Social Security taxes were voluntary! I never paid SS taxes and neither did my husband (Military), not until the late 70’s when it became mandatory…
President Jimmy Carter
Myth 2. (Per the social Security Historical site) That the participants would only have to pay 1% of the first $1,400.00 of their annual Incomes into the Program…
The tax rate in the original 1935 law was 1% each on the employer and the employee, on the first $3,000 of earnings. This rate was increased on a regular schedule in four steps so that by 1949 the rate would be 3% each on the first $3,000. The figure was never $,1400, and the rate was never fixed for all time at 1%.
The public debate at the time played down the fact the rate under the statute as passed would ultimately go to 3%. I think all but a few understood the rate would go to 3%. What the public was not told at the time, was the fact the projections indicated the level of tax necessary to sustain the program as initially designed far exceeded the 3% figure that was debated and discussed. The issue was left to a later Congresses to take the heat for raising the tax, kicking the can down the proverbial road…
In my research, I have found that both Republicans and Democrats have all but destroyed the Social Security program and a law needs to be written that forbids them access to move or squander the funding of any of our country’s social programs! But in terms of social programs, the presidential years of Richard Nixion and Jimmy Carter did the most damage, virtually turning our country in the direction of a socialist nation!
This very liberal, and official Social Security site praises Jimmy Carter while publishing the most partisan information on Richard Nixon… (The Nixon Tapes (why?)) and Nixon did the most to bolster their liberal social programs! No real info on conservatives but praises are sung to the rafters for the liberals!
The bottom line is that the democrats know how to squander money, period, while the republicans are masters of moving and spending in other directions for the sake of their big donors… And the Uniparty is destroying our country as I type!
I do not trust the info at the Social Security site, being as they are fact checked by Snopes and many liberal “truth in information” sites that have tried to shut down freedom of speech, especially conservative speak, all across the internet! I take it all with a grain of salt!
But the info is here so take of it what you will… A very wise idea would be to do your own research! Social Security History