History Lesson on Your Social Security Card

This was found in my inbox today.-Lou
aasocialsecurity
History Lesson on Your Social Security Card
Just in case some of you young whippersnappers (& some older ones) didn’t know this. Its easy to check out, if you don’t believe it. Be sure and show it to your family and friends. 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 1980’s 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, NOT FOR IDENTIFICATION, was removed.  <http://blog.kir.com/archives/images/social%20security.gif
A sample of the old Social Security card with the “NOT FOR IDENTIFICATION” message is Attached.
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 $106,000
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.
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.

Comments

  1. Lou – according to SNOPES, this is not completely true.

    http://www.snopes.com/politics/socialsecurity/changes.asp

    It appears to be a mixture of true and false information. If we are going to have credibility, we need to make sure we are getting the truth.

    Keep up the good work.
    Roger

  2. Each lie is followed by the truth and footnoted so you can see where the data’s from:

    1. Lie: Participation was promised by President Roosevelt to be completely voluntary, but it is no longer voluntary. Truth: From the beginning, Social Security was compulsory. http://www.socialsecurity.gov/history/35act.html#TITLE%20VIII

    2. Lie: That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program, but is now 7.65% on the first $90,000. Truth: The original Social Security Act specified taxes for employees for the first $3000 of income at the following rates: 1% for 1935-1939; 1.5% for 1940-1942; 2% for 1943-1945; 2.5% for 1946-1948; and 3% for 1948 and later. The same taxes were leveled on employers. (http://www.socialsecurity.gov/history/35act.html#TITLE%20VIII) Currently, the Social Security tax rate is 4.2% for employees on income to $110,000. The employer contribution is 6.2%. http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/2012-social-security-tax-rate-and-maximum-taxable-earnings

    3. Lie: That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year, but is no longer tax deductible. Truth: As noted above, Social Security was NEVER voluntary. It also was NEVER tax deductible. (http://www.socialsecurity.gov/history/35act.html#TITLE%20VIII)

    4. Lie: That the money the participants put into the independent ‘Trust Fund’ rather 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, another Democrat, the money was moved to The General Fund and Spent. Truth: From the beginning, excess Social Security funds have been invested in interest-bearing obligations (Treasury Bonds & Bills) of the United States. http://www.socialsecurity.gov/history/35act.html#TITLE%20II Revenues from the sale of Treasury Bonds and Bills are part of the General Fund.

    5. Lie: That the annuity payments to the retirees would never be taxed as income. Under Clinton & Gore, Democrats, Up to 85% of your Social Security can be Taxed. Truth: In 1982, President Reagan, a Republican, passed a set of amendments which put into place the rule that up to 50% of Social Security Benefits could be taxed. This was increased to 85% for high income Social Security recipients under President Clinton. Most Social Security recipients will not be subject to the 85% rate. http://www.ssa.gov/history/InternetMyths.html

    6. Lie: Which Political Party decided to start giving annuity payments to immigrants? 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! Truth: ”Neither immigrants nor anyone else is able to collect Social Security benefits without paying Social Security payroll taxes into the system.” http://www.ssa.gov/history/InternetMyths2.html

  3. This subject goes back, at least, to 2005(?) and people are still willing to press the Lies as facts. What makes this so exasperating is that my inbox is loaded with these and similar emails from folks that are Phd’s, not just schlubs from no wheresvile..I like how Ken’s “comment” was set up. It is concise, succinct. and a good Clift Note version of the Snopes and Fact Check articles. I already cut and pasted Ken’s comment, as a response. to someone who sent me that doggone “History” email, with proper acknowledgement of this blog site.

  4. Will Stockdale says:

    Hey Ben, maybe you’ll get to like the Air Force. Zooming all over the sky and shouting ROGER and WILCO and everything. Maybe it won’t be so bad.

  5. J Howard Markley Jr says:

    Item four is correct. The money is now shuffled into the General Fund through your own words: “sale of Treasury Bonds and Bills are part of the General Fund.”

    Change that one to true, or the rest of your study will be suspect too.

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