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Your Social Security
May 21, 2010 - Michael Palmer
I received an email blaming the democrats for all of this, but I think both parties and the voters deserve a share of the blame.
Here is the main information:
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 kids.
They need a little history lesson on what's what.
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 and the message was removed.
Our Social Security
Franklin Roosevelt introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
It is 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,
Under the Johnson administration 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 the law passed that up to 85% of your Social Security can now be taxed.
And they still can not come up with enough money to fund our education system.
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