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Thread: Your Social Security

  1. #1
    Senior Member Nikos's Avatar
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    Your Social Security

    History Lesson on Your Social Security Card


    Just in case some of you didn't know this. It's 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 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, NOT FOR IDENTIFICATION, was removed.

    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


    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, & 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?

    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), t​he Democrats turn around and tell you that the Republicans want to take your Social Security away!

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  3. #2
    Senior Member Ezekiel 33's Avatar
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    Yeah, I wish they would do a "Reset" on the system and put it back to where it started.

    One of the problems is that it was not meant to pay out to disabled persons, it was meant to pay out to retirees who had put into it during a lifetime of working.
    Not saying that the government can't help disabled persons, but it should not come from SSI. If you don't put in, you should not be able to draw anything out.


    The demoncrats have gone after it because to support their socialist ideals, they need lots of money to give away to whomever they desire, whether they are an American citizen or not.

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    HEAVEN (03-23-2018), Valiant Woman (03-23-2018)

  5. #3
    Apparently, this set of questions (with the incorrect answers) has been floating around the internet for a while,
    and prompted the US SSA to post this rebuttal on their website: https://www.ssa.gov/history/InternetMyths2.html

    ************************************************** ************************************************** ***
    MYTHS AND MISINFORMATION ABOUT SOCIAL SECURITY- Part 2

    Myths and misstatements of fact frequently circulate on the Internet, in email and on websites, and are repeated in endless loops of misinformation. One common set of such misinformation involves a series of questions about the history of the Social Security system.
    One Common Form of the Questions:

    Q1: Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

    Q2: Which political party eliminated the income tax deduction for Social Security (FICA) withholding?

    Q3: Which political party started taxing Social Security annuities?

    Q4: Which political party increased the taxes on Social Security annuities?

    Q5: Which political party decided to start giving annuity payments to immigrants?


    THE CORRECT ANSWERS TO THE FIVE QUESTIONS

    Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it?

    A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government."

    Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself.

    Q2: Which political party eliminated the income tax deduction for Social Security (FICA) withholding?

    A2: There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII.

    (The text of Title VIII. can be found elsewhere on our website.)


    Q3. Which political party started taxing Social Security annuities?

    A3. The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. These amendments passed the Congress in 1983 on an overwhelmingly bi-partisan vote.

    The basic rule put in place was that up to 50% of Social Security benefits could be added to taxable income, if the taxpayer's total income exceeded certain thresholds.

    The taxation of benefits was a proposal which came from the Greenspan Commission appointed by President Reagan and chaired by Alan Greenspan (who went on to later become the Chairman of the Federal Reserve).

    The full text of the Greenspan Commission report is available on our website.

    President's Reagan's signing statement for the 1983 Amendments can also be found on our website.

    A detailed explanation of the provisions of the 1983 law is also available on the website.


    Q4. Which political party increased the taxes on Social Security annuities?

    A4. In 1993, legislation was enacted which had the effect of increasing the tax put in place under the 1983 law. It raised from 50% to 85% the portion of Social Security benefits subject to taxation; but the increased percentage only applied to "higher income" beneficiaries. Beneficiaries of modest incomes might still be subject to the 50% rate, or to no taxation at all, depending on their overall taxable income.

    This change in the tax rate was one provision in a massive Omnibus Budget Reconciliation Act (OBRA) passed that year. The OBRA 1993 legislation was deadlocked in the Senate on a tie vote of 50-50 and Vice President Al Gore cast the deciding vote in favor of passage. President Clinton signed the bill into law on August 10, 1993.

    (You can find a brief historical summary of the development of taxation of Social Security benefits on the Social Security website.)


    Q5. Which political party decided to start giving annuity payments to immigrants?

    A5. Neither immigrants nor anyone else is able to collect Social Security benefits without someone paying Social Security payroll taxes into the system. The conditions under which Social Security benefits are payable, and to whom, can be found in the pamphlets available on our website.

    The question confuses the Supplemental Security Income (SSI) program with Social Security. SSI is a federal welfare program and no contributions, from immigrants or citizens or anyone else, is required for eligibility. Under certain conditions, immigrants can qualify for SSI benefits. The SSI program was an initiative of the Nixon Administration and was signed into law by President Nixon on October 30, 1972.

    An explanation of the basics of Social Security, and the distinction between Social Security and SSI, can be found on the Social Security website.

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