Wednesday, January 26, 2011

Putting My Mom in the Hot Seat

At the risk of alienating my mother (which I never hope to do!), I've decided to put this out there for public consumption. She forwarded me the following email.  (Please note, she did not write it!) As it came from my mother, I believe it is a trustworthy source. But as Reagan used to say during the Cold War, “Trust but verify.” I’m inclined to believe the following statements are true, but I’m also interested in verifying the facts. This is clearly a not-so-friendly-to-the-Democratic-Party kind of email. Sorry, Demo friends. But if any of you out there have any insights on sources, I’d love to hear them. (Please note, I’m mostly interested in confirming or denying if these statements as true or false, so please save any mean rants for another blog. Respectful insights and comments are welcome.) Thanks, Mom! : ) Here’s the email she forwarded:

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.

____________________________________________________

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!

____________________________________________________

Okay, folks!  As John Adams said, "Facts are stubborn things."  Are these facts?  And thanks for being a good sport, Mom.







3 comments:

  1. Well... we're still friends anyway.

    ReplyDelete
  2. Dare I post? Social security helps many average citizens live. However I do not understand how it is leagally retaxed as income. Double taxation is outrageous.

    I am never surprised that governments are not just and thrive off of its citizens. That is one of the pricetags of having a structured society.

    I say reform not abolish.

    Your Pal Mark

    ReplyDelete
  3. Tamara, glad to hear it : )

    Mark, my favorite Democrat!, thanks for chiming in. Agreed, being taxed once is plenty for me : )

    Mom?

    ReplyDelete