Daily Wisdom

May 17, 2005

Social Security

Special Thanks to Marge in MI for this one...
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle . -- Winston Churchill

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:

  • That participation in the Program would be completely voluntary,
  • That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
  • That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
  • That the money would be put into an 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,
  • That the annuity payments to the retirees would never be taxed as income.

  • Many of us have paid into FICA for years. Some of those who are now receiving a Social Security check every month find that they are getting taxed on 85% of the money they paid to the Federal government to "put away" for them. Why have all the promises of FDR been broken? Who is responsible? Let's see now....

    Q: Who 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 a Democratically-controlled House and Senate.

    Q: Who eliminated the income tax deduction for Social Security (FICA) withholding?
    A: The Democratic Party.

    Q: Who 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: Who 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 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.

    To be truthful, 450 top economists (including 5 Nobel laureates) believe that we should consider a new plan for Social Security along the lines of what President Bush is suggesting. See for yourself.... Click here

    4 Comments:

    At 5/18/2005 12:38 AM , Anonymous blolgmaniac said...

    450 top economists (including 5 Nobel laureates) believe that we should consider a new plan for Social Security along the lines of what President Bush is suggesting.

    There's a lot more bottom-feeding Econo-Ditz and Noble-Idiots who believe that anything Bush proposes is wrong. They take the saying seriously, "Just say NO.... to Bush".

     
    At 5/18/2005 4:00 AM , Blogger camojack said...

    You might want to read this

     
    At 5/18/2005 9:19 AM , Blogger MargeinMI said...

    Whoa was I surprised to see my nic at the top of your blog! Please don't credit me, except as a passer-on of an email forward. I received it from a Canadian friend who lives in Texas.

    Check out camojack's link (thanks!). Lots of documentation there to debunk or support various points.

     
    At 9/07/2007 12:41 AM , Anonymous Anonymous said...

    Most of the initial message is myth and misinformation. You can find the the five supposed promises made by Franklin Roosevelt debunked on the Social Security website at http://www.ssa.gov/history/InternetMyths.html and the five questions about Social Security debunked at http://www.ssa.gov/history/InternetMyths2.html . You can also find information about both of these topics at http://www.snopes.com/politics/taxes/sschanges.asp .

     

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