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:
SOCIAL SECURITY
Franklin Delano
Roosevelt 32nd. President,
Democrat Terms of Office March 4, 1933, to April 12, 1945
Franklin Delano 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.
ALL IS GOOD TO HERE..... ...................THEN-->
Dwight David Eisenhower
34th. President, Republican,
Term Of Office: January 20, 1953 to January 20, 1961
1958 is the first year that Congress voted to remove funds from Social Security and put it into the General Fund for Congress to spend. It was a Democratically Controlled Congress. Congress' logic at that time was that there was so much money in Social Security Fund that it would never run out or be used up for the purpose it was intended and set aside for.
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Lyndon Baines Johnson
36th. President, Democrat
Term Of Office: November 22, 1963 to January 20, 1969
Question: Which Political Party took Social Security from the Independent 'Trust Fund' and put it into the General Fund so that Congress could spend it?
Answer: It was Lyndon B. Johnson and the Democrat Controlled House and Senate. Question: Which Political Party eliminated the income tax Deduction for Social Security (FICA) withholding?
Answer: The Democrat Party.
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William Jefferson Clinton (Bill Clinton)
42nd. President Democrat
Term of Office: January 20, 1993 to January 20, 2001
Question: Which Political Party started taxing Social Security annuities?
Answer: The Democrat Party, with Albert Arnold Gore, Jr. (Al Gore) [Vice President Term of Office: January 20, 1993 to January 20, 2001] casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US .
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THE STRAW THAT BROKE THE CAMEL'S BACK:
James Earl Carter, Jr (Jimmy Carter)
39th. President, Democrat
Term of Office: January 20, 1977 to January 20, 1981
Question: Which Political Party decided to start giving Annuity payments to immigrants? Answer: That's right! James Earl Carter, Jr. (Jimmy Carter) and the Democrat Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democrat Party gave these payments to them, even though the immigrants 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 read 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 a copy of this to? Actions speak louder than bumper stickers.
AND REMEMBER.... CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
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Thomas Jefferson
3rd. President, Democrat
Term of Office: January 20, 1777 to January 20, 1781
Jefferson said, "A government big enough to give you everything you want, is strong enough to take everything you have."
10 comments:
Even though I prefer the Republican party as it is described in the official party platform, the Republicans have been infiltrated with people like McCain and McCain resembles a Democrat more than a Republican. We call these people like McCain RINO. That is a Republican in name only. Best policy would be to vote all incumbents out and only vote for those who would support the Constitution totally as Ron Paul has done for more than 20 years. Since most of America has been too busy watching the ball game instead of who is spending their money in Washington, district of corruption, we are about to suffer a great depression unless our Heavenly Father has mercy on our wretched souls and comes in at the eleventh hour to pull us out of this bad situation we are about to enter into.
A RINO is still better than a Dem Donkey, and the latter is exactly what we'll get if once again GOP in-fighting causes people to effectively throw away their votes by dog-in-the manger write-ins or no votes. The operative word here is effectively, not idealistically. Even Ron Paul has publicly given his support to McCain & the Republican ticket, as I hope all conservatives and libertarian voters will. Every vote will count in this election, as long as it is for one of the 2 key runners.
Rinos and DEm demorats are just doing what the people want. The majority of the people want Socialism...I repeat
COMMUNISM. Most people are lazy and want something for nothing. The rest of the world is now catching on to the swindle the U.S. has foisted on them and they are asking for more Federal reserve notes to pay for the oil. Start reading Revelation. I would guess we are at chapter 9 about now. Hang onto your hat and stock up on food for the pantry. Four to eight years worth of food should be about right. Our founding fathers said we should deal in silver and gold but the BANKSTERS of Jekyll Island decided they could cut a fat hog with a fiat money system. This nation will soon receive the reward for false weights and measurements.http://www.amazon.com/gp/reader/0912986409/ref=sib_fs_top?ie=UTF8&p=S00P&checkSum=BMvtGCljF1VEDi86k7vWkOo8p1n6kWEL7eLHrcwgU5s%3D#reader-link
Read the book "the creature from jekyll island. This creature was created about 1913 by people in our Congress affectionately known as Republicans and Demorats. As long as the presidential candidates are selected by the big money corporations, we will continue to have a system of government that stinks to high heaven. I rest my case and pray for God's mercy on this people.
Linda - thanks for the comment on Mormon Matters! You are always entertaining.
will you run for office.
you are so smart. I love all the fact and quotes you give. I might have to copy more of your post.
thank you for your educational and sadly not unbelievable post
Kim
aAdam: thanks (I think) ... considering the subject, I hope by "entertaining" you don't mean amusing as much as enlightening or thought provoking.
Kim & Ben: thank you, thank you. One politician in the family is enough. Besides, the pay (for *honest* political servants) is pathetic.
Haha, provoking is a good word. You are definitely provoking. :)
Hopefully someday I'll prove that there are some psychologists that are not "seriously disturbed."
Really though, I like to be exposed (and sometimes inundated) but people with strong opinions that are different from my own. Usually the only place to do that is on the radio switching between the equally provoking Rush and Air America.
Whoops, I meant "by people" not "but people" ... Freudian slip?
Thanks, Mom, for another enlightening exposure of some of the deceit and lies within lib-speak.
Linda, your facts are not entirely correct. Please check out the official social security website: http://www.ssa.gov/history/InternetMyths.html and http://www.ssa.gov/history/InternetMyths2.html
MYTHS AND MISINFORMATION ABOUT SOCIAL SECURITY
Myths and misstatements of fact frequently circulate on the Internet, in email and on websites, and are repeated in endless loops of misinformation. One common set of such misinformation involves the history of the Social Security system.
One Common Form of the Myths:
"Franklin Roosevelt 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 paid in would be 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.;
5) That the annuity payments to the retirees would never be taxed as income."
CORRECTING THE MYTHS AND MISSTATEMENTS
Myth 1: 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.
Myth 2: President Roosevelt promised that the participants would only have to pay 1% of the first $1,400 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 text of the 1935 law and the tax rate schedule can be found elsewhere on our website.)
Myth 3: President Roosevelt promised that the money the participants elected to put into the program would be deductible from their income for tax purposes each year
There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII.
(The text of Title VIII. can be found elsewhere on our website.)
Myth 4: President Roosevelt promised that the money the participants paid would be 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
The idea here is basically correct. However, this statement is usually joined to a second statement to the effect that this principle was violated by subsequent Administrations. However, there has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government.
The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this myth comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no affect on the actual operations of the Trust Fund itself.
Myth 5: President Roosevelt promised that the annuity payments to the retirees would never be taxed as income
Originally, Social Security benefits were not taxable income. This was not, however, a provision of the law, nor anything that President Roosevelt did or could have "promised." It was the result of a series of administrative rulings issued by the Treasury Department in the early years of the program. (The Treasury rulings can be found elsewhere on our website.)
In 1983 Congress changed the law by specifically authorizing the taxation of Social Security benefits. This was part of the 1983 Amendments, and this law overrode the earlier administrative rulings from the Treasury Department. (A detailed explanation of the 1983 Amendments can be found elsewhere on our website.)
MYTHS AND MISINFORMATION ABOUT SOCIAL SECURITY- Part 2
Myths and misstatements of fact frequently circulate on the Internet, in email and on websites, and are repeated in endless loops of misinformation. One common set of such misinformation involves a series of questions about the history of the Social Security system.
One Common Form of the Questions:
Q1: Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?
Q2: Which political party eliminated the income tax deduction for Social Security (FICA) withholding?
Q3: Which political party started taxing Social Security annuities?
Q4: Which political party increased the taxes on Social Security annuities?
Q5: Which political party decided to start giving annuity payments to immigrants?
http://www.ssa.gov/history/InternetMyths2.html
THE CORRECT ANSWERS TO THE FIVE QUESTIONS
Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?
A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."
Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.
Q2: Which political party eliminated the income tax deduction for Social Security (FICA) withholding?
A2: There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII.
(The text of Title VIII. can be found elsewhere on our website.)
Q3. Which political party started taxing Social Security annuities?
A3. The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. These amendments passed the Congress in 1983 on an overwhelmingly bi-partisan vote.
The basic rule put in place was that up to 50% of Social Security benefits could be added to taxable income, if the taxpayer's total income exceeded certain thresholds.
The taxation of benefits was a proposal which came from the Greenspan Commission appointed by President Reagan and chaired by Alan Greenspan, who is presently serving as Chairman of the Federal Reserve.
The full text of the Greenspan Commission report is available on our website.
President's Reagan's signing statement for the 1983 Amendments can also be found on our website.
A detailed explanation of the provisions of the 1983 law is also available on the website.
Q4. Which political party increased the taxes on Social Security annuities?
A4. In 1993, legislation was enacted which had the effect of increasing the tax put in place under the 1983 law. It raised from 50% to 85% the portion of Social Security benefits subject to taxation; but the increased percentage only applied to "higher income" beneficiaries. Beneficiaries of modest incomes might still be subject to the 50% rate, or to no taxation at all, depending on their overall taxable income.
This change in the tax rate was one provision in a massive Omnibus Budget Reconciliation Act (OBRA) passed that year. The OBRA 1993 legislation was deadlocked in the Senate on a tie vote of 50-50 and Vice President Al Gore cast the deciding vote in favor of passage. President Clinton signed the bill into law on August 10, 1993.
(You can find a brief historical summary of the development of taxation of Social Security benefits on the Social Security website.)
Q5. Which political party decided to start giving annuity payments to immigrants?
A5. Neither immigrants nor anyone else is able to collect Social Security benefits without someone paying Social Security payroll taxes into the system. The conditions under which Social Security benefits are payable, and to whom, can be found in the pamphlets available on our website.
The question confuses the Supplemental Security Income (SSI) program with Social Security. SSI is a federal welfare program and no contributions, from immigrants or citizens or anyone else, is required for eligibility. Under certain conditions, immigrants can qualify for SSI benefits. The SSI program was an initiative of the Nixon Administration and was signed into law by President Nixon on October 30, 1972.
An explanation of the basics of Social Security, and the distinction between Social Security and SSI, can be found on the Social Security website.
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