Your Social Security (Baby steps...)

[StromBusa]

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!!!

Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was removed.[9]



An old Social Security card with the "NOT FOR IDENTIFICATION" message.

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%
on the first $90,000


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!!!




"People say true friends must always hold hands, but true friends don't need to hold hands because they know the other hand will always be there.

 

[ajblbv]

Good post. However, I am sure there are many points that Republicans have not done all positive things for the program. The biggest underlying issue is it went from being a crutch to the retired generation, to being a sole income to much of the retired population.

 

[jdsbusa]

Would be nice if they returned the system to voluntary. I'd be quite happy putting another 8% into my own retirement fund, it's doing a lot better than my social security account. I'd gladly give up 23 years of my FICA contributions to put away my last 20 into my own account. Of course...that'll NEVER happen or the fund would dry up.

 

[afterhours]

If SS was voluntary...nobody would pay. while some would put it into thier own retirment plans...most would not.

what happens then?

we end up paying higher taxes to take care of them when they get too old to work. atleast with the current system people pay something into it.

 

[Vonderbach]

If SS was voluntary...nobody would pay. while some would put it into thier own retirment plans...most would not.

what happens then?

we end up paying higher taxes to take care of them when they get too old to work. atleast with the current system people pay something into it.

The only answer is a gradual phase-out with a diminishing returns. At some point people need to wise up and realize that this ponzi scheme won't last forever.

 

[Loomis]

It the Largest POZE SCHEME Going...

Just my 2 cents

 

[twotonevert]

What irriates me is paying into it for my entire working life and not getting the benefit. I doubt it will be there when I retire. Call it another tax. I am pretty pizzed at all of this right now because I have qualified for the most awesome tax bracket and get to pay through the nose this year. I could buy two new busa's for what I have to pay. I better shut up.

 

[Vonderbach]

What irriates me is paying into it for my entire working life and not getting the benefit. I doubt it will be there when I retire. Call it another tax. I am pretty pizzed at all of this right now because I have qualified for the most awesome tax bracket and get to pay through the nose this year. I could buy two new busa's for what I have to pay. I better shut up.

Rich Boy!!! You DESERVE to pay more taxes cause you're rich. You don't need all those toys. There's people in the streets dying and you're out playing on your Hayabusa.

/liberal rant

 

[twotonevert]

Rich Boy!!! You DESERVE to pay more taxes cause you're rich. You don't need all those toys. There's people in the streets dying and you're out playing on your Hayabusa.

/liberal rant

Oh its on now!

 

[jdsbusa]

If SS was voluntary...nobody would pay. while some would put it into thier own retirment plans...most would not.

what happens then?

we end up paying higher taxes to take care of them when they get too old to work. atleast with the current system people pay something into it.

Yep, we pay into it but it's a severely disproportionate amount to what people that are currently collecting it had to pay in, and that's just to keep the fund afloat. In 20 years our kids will be paying through the nose just to keep it going....just like we do now. Once again government corruption and mismanagement strike and cause everyone in the form of higher taxes. If everyone had their own individual SS account that their funds went in, and they received benefits out of that sole account it would be a fair deal. But when you take a program and turn it upside down paying out a far greater amount to those who put in a much smaller percentage than what interest would have wracked up, it quickly turns into a "tax" just like mentioned above. The entire system was doomed to fail from the start if one looks at the history of payments to some that worked a very short time but collected for decades after. All of the changes since then are just "icing on the cake".

 

[PocketRocket]

Very good info thanks , email it to me , if you dont mind.. right hand = control . left hand = corruption & together = Government

 

[afterhours]

i am not argueing that the SS system is broken, and that it cannot work, it is flawed in its very base.

my only statement is: what are the options we are going to have to pay these people either way, atleast this way they pay something into the system.

nobody is going to allow millions of people to die, homeless and broke. no matter how many times they were warned to put money away for retirement..

 

[BlueHaya]

I wonder where the money came from for the very first pay outs?

 

[skydivr]

This is your health care system - to be.....

 

[PocketRocket]

The corruption goes deep , to the core .. When they took the SS $ and used it all up, then said they put it in a different fund ( thats stealing) .. But again history will repeat itself. Once they pass a law or bill , they will start changing it around anyway they want. Give a penny tax and it will be a $1 one year later , and there will be nothing You can do about it.. Just like the health care Bill , I'd bet both side Really want it to pass But they have to appear as if its a debate, You know- make it look like we'e doing our jobs. But really in the end its all about control and corruption and eliminating the Middle class..

 

[StromBusa]

This is your health care system - to be.....

WTF ? Do ya think so

 

[TheAtomicAss]

If SS was voluntary...nobody would pay. while some would put it into thier own retirment plans...most would not.

what happens then?

we end up paying higher taxes to take care of them when they get too old to work. atleast with the current system people pay something into it.

No. No payments, no benefits. That's how it works in the real world.

 

[Phil96]

I'm on SS. Catfood not so bad, once you get past the vapors.

 

[BIG GUY]

I wish SS was voluntary, 'cause I sure wouldn't be putting the money into SS. I would be putting the money into my own accounts.

 

[Vonderbach]

How timely

Social Security Payout to Exceed Revenue This Year - NYTimes.com

What's more interesting is that the CBO, the organization that claims Obamacare will be deficit neutral, was off by 6 years with this prediction. 6 years.