Sturmbahn

Just recieved this email. I believed it was a good program at the time, but I didn't know how much had changed or who screwed it up.

Democrats to the rescue?

SOCIAL SECURITY:

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

1.) That participation in the Program would be completely voluntary,

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

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

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,

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

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 U.S.

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 SSI Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!

Then, after doing all this lying and thieving and violation of 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!

Guidoo

Interesting,.......any links for sources ?


1.) That participation in the Program would be completely voluntary,

**this was to be for a annuity program linked with SS. This annuity program was never enacted
by congress.

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

***how much is $1,400 (circa late 1930's) in todays money ? Also the original measure called for 3% from worker and 3% from employer. The annuity part was to be a 1% tax.....but never enacted.

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


***again reffers to the never enacted annuity program. Ever look at a w-2 form ? ever wonder why there is a box for income subject to ss/fica taxes vs taxable income ( as far as income tax) ??

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,

**** This is a grave problem....both parties have seen fit to "dip" to cover budget shortfalls.
interestingly enough though the largest budget defiicits have occurred under republican
presidents( Ronald Reagan, George W. Bush) , funny it's this way since republicans have a "fiscally
responsible" image.

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

*** Again.....the annuity part of SS was never passed.


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 U.S.

****Actually you could be taxed on SS benefits long before this. Once you exceeded earning a specified mount of money.


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 SSI Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!

***SSI is aimed primarily at the blind/diabled. it is also available for those of retirement age who are otherwise ineligeable fo SS...do you know how much a monthly SSI benefit is ?? between 25-33% of the normal SS benefit. I see where immigrants are beating a path to live here for that...lol

Then, after doing all this lying and thieving and violation of 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!


****I put to you that it is you that is misinformed or misled. Try reading some of the links below.



http://www.spartacus.schoolnet.co.uk/USARsocial.htm

http://www.ssa.gov/history/history.html

http://www.ssa.gov/history/pdf/fdrbill.pdf


Guido

ToshiroOC

Good post Guidoo, and definitely some interesting links. I'll totally check those out - it seems like an interesting issue that I don't know enough about to say anything

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bird chest

Who cares what party did what. Which party is going to save Social security. Because it is supposed to go bankrupt in 2042

PoopyTheJ

Except I would say, Who cares which party did what, it's still a sham and a racket.

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