History Lesson on Your Social Security Card
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 [at least for Elvis].
Your 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
[Any actuaries or accountants out there to calculate the "adjusted for inflation" value of $1,400? The math on the 1% to 7.65% increase seems pretty straight forward.]
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 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.
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.
AND MY FAVORITE:
Okay, folks! As John Adams said, "Facts are stubborn things." Are these facts? And thanks for being a good sport, Mom.