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Interesting social security info...
Posted: Mar 9, 2010
Your Social Security
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 kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!
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,
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%
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 start giving 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!
And the worst part about it is uninformed citizens believe it!
If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe not, some Democrats are awfully sure of what isn't so.
But it's worth a try. How many people can YOU send this to?
Actions speak louder than bumper stickers.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
A government big enough to give you everything you want, is strong enough to take everything you have. -Thomas Jefferson
;
Ya had me at "voluntary". Wasn't this also supposed to be.... - temporary??? nm
[ In Reply To ..]NM
Are they dragging out this lying viral email from the 2004 archive again? - Pants on fire....
[ In Reply To ..]Fact is fact, huh? Okay. Let's run with that.
Lie #1: Who taxed social security benefits? Below you will find a link to ssa.gov archives. There you will see with your own two eyes that in 1983, Reagan signed it into law. You will see republicans Bob Dole and Howard Baker basking in the glorious photo-op. In 1983, the Senate was controlled by pubs. Alan Greenspan recommended it when he chaired a bipartisan commission. A link to another photo clearly shows 2 dems and 4 pubs along with a little snapshot history of the study. Retirees with annual incomes over $32,000 (for married couples) were subjected to the tax. Accounting for inflation, that would represent roughly $70,720 in 2010. The tax was applied to 50% of the SS benefit, not the entire amount.
Lie #2: Who gave SSI to immigrants? Richard Nixon proposed the Supplemental Social Security Income (SSI) program and signed it on October 3, 1972 with bipartisan approval from the democratically controlled Congress. SSI is a welfare program, not an entitlement or a social security benefit and is based on income and disability guidelines that include legal immigrants who live in the US. Recipients qualified on the basis of blindness, disability, age and (low) income. It is funded out of general tax revenues, not payroll taxes. Pubs tried to take it away from immigrants in 1996 with their welfare reform, a bill that dem President Clinton signed while holding his nose. After public outrage and reported suicides by cut-off recipients, in 1997 the republican-led Congress restored benefits to existing recipients but placed tough restrictions on new recipients.
Lie #3: Who Spent Trust Fund Money? LBJ included SS in the federal budget so the budget would accurately reflect federal expenditures, along with Medicare, highway and other trust funds. This accounting practice has been followed by all presidents ever since, 5 pubs and 3 dems. Looks bipartisan to me. Between 1975 and 1981, SS revenues began running deficits. After SS taxes were raised by Reagan in 1983, SS trust surpluses were restored and have remained that way ever since, under dems and pubs. However, these surpluses have been raided time and time again in bipartisan fashion.
Partial truth: Yes. SS taxes were increased under Clinton in 1993, just as they had been under Reagan in 1983. The revenues have gone to help pay for Medicare and the tax is applied to those married couples making more than $44,000 yearly. Fact is that neither party has made any effort to repeal that tax increase, so it must be doing something good.
Photo of Reagan signing SS amendments-1983
http://www.ssa.gov/history/reagansm.html
Photo of Greenspan (bipartisan) Commission
http://www.ssa.gov/history/greenspn.html
Inflation calculator
http://www.dollartimes.com/calculators/inflation.htm
Oasis-20th Anniversary of Landmark Legislation (SSI)
http://www.ssa.gov/history/oasis/january1994.pdf
History of SS Trust Fund Operations
http://www.ssa.gov/history/tftable.html
http://www.factcheck.org/2004/04/lies-in-the-e-mail-part-2/
Politifact gave the email a pants on fire rating
http://www.politifact.com/truth-o-meter/statements/2009/sep/28/chain-email/e-mail-claims-democratic-congress-blame-no-cola-in/
Well, whaddaya expect, considering where they get their "news"? - nm
[ In Reply To ..]nm
Not Pants on Fire.... - Vikefantam
[ In Reply To ..]Pants on the ground!!!!
http://www.youtube.com/watch?v=Ymoyf6JIHKQ&feature=related
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