Your Social Security.....

[bparker]

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 of 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,

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
I nto 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:

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Q: Which Political Party took Social Security from t he
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.

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Q: Which Political Party eliminated the income tax
Deduction for Social Security (FICA) withholding?

A: The Democratic Party.

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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

[KenP]

I really don't like the media and the Democraps.

now I'm in a bad mood again. Thanks alot Parker.

[bparker]

Originally Posted by KenP

I really don't like the media and the Democraps.

now I'm in a bad mood again. Thanks alot Parker.

[Big Dad]

Too many sucking off the tit are going to cause it to fizzle up and die.

[CO Hummer]

I've been spending all my money on Trucks and Whisky since I know I'll be covered by Social Security.

[HummerHippy]

ok, enough speculation
Here's the corrected info directly from the Soc Sec Admin.

http://www.ssa.gov/history/InternetMyths2.html

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 affect 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.


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.


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.


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.

[CO Hummer]

Hahaha Hippy!

You know right off the bat that you're full of it when you have to respond with long winded loophole type arguments.

Nice cut-n-paste though!

[bparker]

Can you say anchor baby?

Originally Posted by HummerHippy

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.

[Agriv8r]

well, i now know a lot more about something that everyone tells me i will never see....thanx for the education....

[HummerHippy]

Thanks CO and bp.
I'm not trying to be pro democrat nor pro republican. I pasted the info from the SSA page as they wrote it. I know that there are soooooooo many was of spinning info to make one side look better than another. I just thought the original post was a bit one sided and I wanted to provide the info from the source and let you all see it and decide for yourselfs. It did seem like the original post was a bit slanted so, hence my opening line. hee hee.

I still love my H3.

[DRTYFN]

Originally Posted by CO Hummer

I've been spending all my money on Trucks and Whisky since I know I'll be covered by Social Security.

But you're not Mexican. You better work on that tan.

[bparker]

Isnt that what stirring the pot is all about though? Who wants to post a well sided argument?

Originally Posted by HummerHippy

I just thought the original post was a bit one sided and I wanted to provide the info from the source and let you all see it and decide for yourselfs. It did seem like the original post was a bit slanted so, hence my opening line. hee hee.