This little FICA review came in over the transom today, full of facts which the youths ought to be aware of:
Franklin Roosevelt introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
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, and,
5.) That the annuity payments to the retirees would never be taxed as income.
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:
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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.
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Q: Which Political Party eliminated the income tax deduction for Social
Security (FICA) withholding?
A: The Democratic Party.
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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 U.S.
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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!
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Then, after doing all this lying and thieving and violation of the original
contract, 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!
And I might add that none of the people controlling SS in our government
are dependent on it in the least. Congressmen have a completely separate fully funded retirement system. There is no decrease in their pay level at retirement.
