History of Social Security
Submitted by: Jean Borden
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 income tax each year,
- 4. That the money the participants contributed would be put into an independent
"Trust Fund" rather than into the General Operating
Fund, and 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.
You may be interested in the following factual history:
Many who have paid FICA for 50 plus years are now receiving a Social Security check
every month. To their surprise they are being taxed on 85% of the money received.
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 payments (annuities)?
A: The Democratic Party, with Al Gore casting the "tie-breaking" deciding
vote as President of the Senate, while he was Vice President.
Q: Which Political Party decided to start giving Social Security payments to
immigrants?
A: Jimmy Carter and the Democratic Party. Immigrants, who moved into this
country, at age 65, became eligible to receive Social Security payments
even though they had never paid a dime into the Social Security System.
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