Richard Rowland

I thought a reminder of a few facts regarding Social Security would be of interest to both Republicans and Democrats on this forum.

If the Democrats know little else, they really know how to screw common folks, for its the common folks, who, unlike the wealthy counted on the Social Security program for their existence, after no longer being able to work.

I copied this off of FaceBook. One of the things mentioned a few days ago was that I understood the reluctance to have faceBook. However, I also mentioned that, if not on FaceBook, I'd miss stuff. This bit about Social Security is some of the stuff that would probably have been missed.

A note to reader: It indicates FDR's promises are in black, updates are in red. However, nothing in red is featured here, nor on the copied piece. Have no idea why.

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 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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], and

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 v**e as President of the Senate, while he was Vice President of the US

AND MY FAVORITE:

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!

Now, 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. Maybe not, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

debeda

Thanks so much for sharing this well laid out piece on social security. There is one more piece missing that many will find annoying. Your social security payment is NOT based on what you have paid in over the years. It is based on how much you earn over your last 10 years of earnings. So for instance even if you only work for 15 years but are a high earner you'll get a high monthly payment. But if you work 50+ years and for instance are not in the best health in later years or something else happens that drastically reduces your income (i.e. having to work reduced hours for health reasons or a business owner who has a failing business) you will get a lower payment even tho your contributions are higher than the person who worked 1/4 of the years but had a higher level of income for those fewer years, therefore paying in far less. Politicians HAD to change the laws tho over the years because they saw that big pot of money to steal.....

Lonewolf

There is still a social security tax

bahmer

Amen and Amen

debeda

Social security wasn't always a tax. You could opt out of it.

Richard Rowland

I didn't know that, debeda. Back in the sixties, starting in 1962, I worked at a printing plant. The basic annual wage back then was around five thousand dollars. I don't recall the exact amount of income that needed to be earned (I think somewhere around the six thousand dollar amount) when the (FICA) tax would cease being deducted from one's paycheck, creating a small boost in take-home pay. Of course, those in the annual wage income bracket never realized an increase, for their annual wages didn't meet the threshold.

In 1964, I was fortunate in that I was able to worm my way into a department that, due to vast amounts of overtime doubled the annual income figure. Somewhere near mid-year, the six-thousand threshold would be reached.

Drpete

Did you even attempt to determine if anything in this article is true. I did and there is only one. I'll let you look up everything so you can see that it's all propaganda and lies... and even some of it was done, you are in part correct... except by Republicans.

Richard Rowland

No, I haven't fact checked anything regarding this piece, Drpete. However, without knowing what exactly you're referring to, I believe there are more than one correct point being made.

Morgan

It's all about blame and it's always the bad Democrats, maybe you should look at who puts protections in place for the people, such as SS. Let me ask you this, where would millions of people be right now without SS, and what would happen to them right now without it? Have you considered that?

The Republicans have had control of Congress before as they have now so where are these changes you want and what changes do you want?

I agree SS should be in a trust account, and not be touched.

People who are self-employed probably have a higher percent due to possibly "not" having funds met by a company employer.

As far as annuities I'm sure it is just a percentage and an immigrant has nothing because of their cheap American employer avoiding paying taxes. The immigrant is not self-employed he works for someone.

Morgan

Not sure where you got that info from but it's incorrect, I know I've received a statement from the SS office of my earnings record to date.

This from the SS office:

Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most. We apply a formula to these earnings and arrive at your basic benefit, or “primary insurance amount.” ... You choose to get benefits before your full retirement age.

http://www.ssa.gov/pubs/EN-05-10070.pdf

crazylibertarian Loc: Florida by way of New York & Rhode Island

You didn't include that the Social Security number was originally, emphatically, not supposed to be used for identification purposes. Even the program's most committed proponents admitted that it never would have been enacted if it were thought to become one. My first Social Security card was emblazoned with a statement that it was not to be used for identification. I first enrolled in the summer of 1962. That was not on the replacement card I needed years later.

In retrospect, it is a sick joke. It was used for our student identification the fall after when I enrolled at NYU. Our ID #s were the Social Security # with '- 9' added. Today it is accepted as part of our identification. In Florida, you are required to provide it for occupational licenses such as the practice of medicine.

Another sick joke is that Titles 18 & 19, Medicare & Medicaid, of Social Security there is the statement that nothing in them is to be construed as interfering with the practice of medicine.

Drpete

I wasn't exaggerating when I said there only one thing I found that was correct and it's just one line of Al Gore being the deciding v**e. Everything else I checked, which was a lot, is false or actually the opposite with Republicans being the ones enacting increases or Nixon a republican enacting not Jimmy Carter. Oh yeah, the giving immigrants social security benefits without paying in to it seemed ludicrous and it's, you guessed it, "false"... I feel that both sides want to make the other look so bad and will spend so much time with hurtful negative endeavors instead of positive action. So please understand that I am neither republican or democrat and v**e both parties depending on the individual morals and ethics which has been a tough choice the last 30 years... But please, a little due diligence. This information society is great for both fact checking as well as spreading rumors that will go unchecked and as you so shared it with others who will also take it as gospel and do the same and say look at these "facts" that are anything else but...

Morgan

Excellent reply drpete and very true, spreading misinformation or lies does more damage in amongst ourselves then people realize.

Richard Rowland

I defer to you, Drpete. I will attempt to be more discerning in the future.

Mike Easterday

Social Security has become nothing but a Ponzie s**m !