microphor wrote:
Show me a policy where they cut social security, people are living longer, working longer, paying into system longer, Show me a policy where Republicans cut or "got rid of" social security! Reliable sources, opinions don't count-POLICY only!
Micro, we keep telling you about Reagan, when his trickle down economics did not work, he had to modify SS, tax it and us the SS money to keep his economy going.. Follow the link to read the story of how he robbed the SS for wars and covering of taxation shortfalls after reducing what the rich paid in fed taxes.
https://www.fedsmith.com/2013/10/11/ronald-reagan-and-the-great-social-security-heist/Reagan is still revered by a lot of Americans. This reverence for Ronald Reagan helps to explain how he was able to fool most of the American people to a degree unparalleled by any other modern president.
With the help of Alan Greenspan, Reagan pulled off one of the greatest frauds ever perpetrated against the American people.
It is so ironic that many people, today, still believe that Ronald Reagan came galloping up on a great white horse to sound the alarm that Social Security was in deep financial trouble. He then allegedly figured out a solution to the problem and rammed his legislative proposal through Congress in a three-month period.
On April 20, 1983, the signing ceremony for the new legislation took place with great fanfare. Below are some of Reagan’s remarks at the signing ceremony.
This bill demonstrates for all time our nation’s ironclad commitment to social security. It assures the elderly that America will always keep the promises made in troubled times a half a century ago. It assures those who are still working that they, too, have a pact with the future. From this day forward, they have our pledge that they will get their fair share of benefits when they retire…
Today, all of us can look each other square in the eye and say, “We kept our promises.” We promised that we would protect the financial integrity of social security. We have. We promised that we would protect beneficiaries against any loss in current benefits. We have. And we promised to attend to the needs of those still working, not only those Americans nearing retirement but young people just entering the labor force. And we’ve done that, too…
A Day of Shame
Instead of being a proud day for America, April 20, 1983, has become a day of shame. The Social Security Amendments of 1983 laid the foundation for 30-years of federal embezzlement of Social Security money in order to use the money to pay for wars, tax cuts and other government programs.
The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue. This surplus revenue was supposed to be saved and invested in marketable U.S. Treasury bonds that would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that money went to Social Security.
The 1983 legislation was sold to the public, and to the Congress, as a long-term fix for Social Security. The payroll tax hike was designed to generate large Social Security surpluses for 30 years, which would be set aside to cover the increased cost of paying benefits when the boomers retired.