Franklin Roosevelt, a Democrat, introduced the Social
Security (FICA) Program. He promised:
1.) That participation in the Program would be
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,
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 and 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:
6: 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.
7: Which Political Party eliminated the income tax
deduction for Social Security (FICA) withholding?
A: The Democratic Party.
8: Which Political Party started taxing Social
A: The Democratic Party, with Al Gore casting
‘tie-breaking’ deciding vote as President of the
Senate, while he was Vice President of the US
9: Which Political Party decided to start
giving annuity payments to immigrants?
AND MY FAVORITE:
10: 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
But it’s worth a try.
Contributed by Glenn Trumble
Regular readers will know that I have long been critical of “Sosh Security” as Chris Matthews and all the “in” folks in DC call it, as we would all be far better off with a requirement that we deposit 15% of our earnings in a bank savings, or approved Exchange Traded Funds, of which there are 22 choices all with excellent records and this would generate 1.35 trillion of new venture capital every year and that would expand the economy by $1.62 trillion per year on-average which by itself would be a 0.1% expansion that would continue for every year and enable us get out of the debt hole Democrats have dug for us.