Social Security Facts

[noslolo]

Here is a great article that I picked up from theFirearmsForum.com
I hope you enjoy!

Your Social Security

**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 kids. 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 was removed.[9] <http://en.wikipedia.org/wiki/Social_Security_number#cite_note-8>
<http://blog.kir.com/archives/images/social%20security.gif>
An old Social Security card with the "NOT FOR IDENTIFICATION" message.
Our Social Security

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, and no other
Government program, and,

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. Maybe not, some Democrats are awfully
sure of what isn't so.

[PETE14]

snopes.com: Social Security Changes (http://www.snopes.com/politics/socialsecurity/changes.asp)

[mr surveyor]

I'm sure there's a lot of "misinformation" in the above outline, but one thing I can certainly say is incorrect is the response in "Item 2". Try doubling that 7.65% and add medicare to the number. Even though the employee, or "tax payer", only sees the 7.65% deducted from their actual paycheck, the employer is required to "match" the 7.65%. This employer paid money comes directly from the business budget for employee expense, and is money that would, or should be part of the employee's overall package, but the employee actually never realizes that's part of the cost of running/operating a business.

So called "Social Security", in my opinion, is the worst social (or socialist) program ever devised by our "leaders:, and continues to spiral down in usefulness and up in cost.

But, back to the subject of cost per employee... If you are an employee, and not the owner of a business, ask your employer about the total cost of your employement. You may be surprised to find it's between 20-40% more than what appears to be your gross paycheck. In my opinion, that money should all be in YOUR pocket, and YOU should be responsible enough to seek your own insurance, retirement funding, rainy day funds, etc.

I better shut up before I end up on some stupid watch list.


surv:mad:

[DKD]

Right your are Mr SURVEYOR, it's about time we Americans speak up on such tpoics. As for me I can care less if "THEY" are watching and reading this forum.
If it's a fight they want, it si a fight they'll get...let it begin here and now.
As Val Kilmer put it in the movie "Tombstone" ..."They can all kiss my rebel A...."

[OldLincoln]

WE'RE WATCHING YOU.......

If youngsters would somehow be made accountable to manage their health plan, retirement and life insurance, it would be really cool to make that an identified portion of the paycheck for tax deduction and then it would be portable between jobs. The notion of working for one company all your working life has vanished and so has the notion of the company taking care of you.

[aray]

My big problem with Social Security is that it is run as a Ponzi (aka pyramid) scheme. It is a direct pay-out of the bottom of the pyramid to the top, with no investment of the funds and with most recipients pulling out more than they put in. It is mathematically bound to fail, which is why Ponzi schemes are illegal. If *any* private company ran its retirement or pension funds the way the Federal Government runs the Social Security system, they would be put in jail, and properly so.

Its doom is certain and politicians who demagogue old people whenever someone tries to reform Social Security are knowingly complicit in one of the biggest financial scams in history. Its inevitable collapse will resonate through our economy, big time. I pity our kids. It’s fiscal child abuse.