SOCIAL SECURITY:

[Brutuskend]

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!

 

[conjur]

http://www.breakthechain.org/exclusives/ssdems.html

 

[Brutuskend]

Originally posted by: conjur
http://www.breakthechain.org/exclusives/ssdems.html

Interesting, but it doesn't really answer the question?

Is it true?

 

[charrison]

SS is a far cry from what was promised.

 

[Queasy]

Nothing but a ponzi-based vote buying scheme.

I could take the money payed towards FICA and stick it in a money market and get a better return on investment.

 

[glenn1]

Yes, it's "true," but that's also largely irrelevant and beside the point. Both political parties are only the sum of its members, which is a constantly changing group of people. You can "blame" those who actually cast the votes, but citing their party is pointless. You can't really say "the Democrats" are responsible for the promises of one of its members (FDR) being broken by other Democrats. That would be like blaming "the Republicans" for Lincoln been right on the slavery issue in the 1860s, but having another (Goldwater) oppose the Civil Rights Act in the 1960s. They're different groups of people even though they still hold membership in the same party.

 

[Brutuskend]

Originally posted by: glenn1
Yes, it's "true," but that's also largely irrelevant and beside the point. Both political parties are only the sum of its members, which is a constantly changing group of people. You can "blame" those who actually cast the votes, but citing their party is pointless. You can't really say "the Democrats" are responsible for the promises of one of its members (FDR) being broken by other Democrats. That would be like blaming "the Republicans" for Lincoln been right on the slavery issue in the 1860s, but having another (Goldwater) oppose the Civil Rights Act in the 1960s. They're different groups of people even though they still hold membership in the same party.

Well said.
And question answered!

 

[zephyrprime]

As far as I know (and I could be wrong) some of what was claimed is true and some is not.

http://www.francesperkins.org/fdr.html

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

No. It was mandatory. But there was a voluntary component. People could pay extra to participate in an optionally annuity program. Also, participation & payouts were limited back then. If you were well-to-do, you couldn't pay in. And if you did pay in but retired rich, you couldn't get any payouts.

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

True about the 1% but not sure about the $1400 dollar figure. But remember that back then, the large majority of people died before they could collect anything! There used to be 16 workers for every retired person but there are only 3.3 today. By 2030, there will be 2.

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,

true

A: It was Lyndon Johnson and the Democratically-controlled House and Senate.
True. Thanks to them SS will be insolvent soon.


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!

I've never heard anything about this and really doubt it.