Let us not forget who dipped into SOCIAL SECURITY

[Moonglow]

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

 

[Supposn]

Rodishi is right. Just this year, the state of Oregon determined that the Dept. of Human Services can verify identity using..not just a social security CARD...but the number itself. As long as it shows up on the SSA record screens that the state has access to.

KosherGrl, "Rodishi is right" concerning what? Respectfully, Supposn

 

[Supposn]

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

MoonGlow, has any taxes or funds allocated to Social Security been diverted for other purposes? You can provide authoritative links?

Respectfully, Supposn

 

[JoeTheEconomist]

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

It was initially off-budget. I was moved on-budget in 1969 because the system was a pay-as-you-go system that didn't accumulate any cash to play with. As part of the 1983 Social Security reform, it was moved off-budget again as of 1990. It remains off-budget.

Budgets by the way do not move money or play with money. Budgets explain where money went. Social Security was moved off budget because the 1983 reforms moved the higher tax rates forward in time which did generate billions of excess dollars. It was moved off budget so that Congress would not be tempted to play with the money.

 

[JoeTheEconomist]

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

MoonGlow, has any taxes or funds allocated to Social Security been diverted for other purposes? You can provide authoritative links?

Respectfully, Supposn

Having done considerable research on the issue, I can provide the links that say there hasn't been any excess money to divert. This is my article, which provides links to data from the SSA on the revenue and expense of the program.

The Myth of the Missing Social Security Trust Fund : FedSmith.com

It was written in 2015. The conclusion was the Trust Fund is mostly interest and interest on interest. That is the purchase of time, and does not enable the government to spend the money on anything but time. That was about 60% of the fund, and that percentage is now closer to 70%. Of the remaining money, more than half of it comes from general fund subsidies, meaning that every penny that has EVER been borrowed from Social Security was spent on one program : Social Security.

 

[Penelope]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Reagan begun taxing SS and under Clinton the higher earners were also taxed, I mean why should the lower earners just be taxed??

 

[Penelope]

AND MY FAVORITE:

#A: That's right!

#Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, they began to receive Social Security payments! The Democratic Party gave these payments to them even though they never paid a dime into it!

#Damning stuff, eh? Too bad it isn't remotely true, according to Snopes:

#No one — whether he be a citizen, immigrant, or illegal alien — is eligible to collect Social Security benefits unless he (or someone else, such as a parent or spouse) has paid into the system. Someone has confused Social Security itself with Supplemental Security Income (SSI) — the latter is a federal welfare program "designed to help aged, blind, and disabled people, who have little or no income" by providing "cash to meet basic needs for food, clothing, and shelter." Immigrants can qualify for SSI benefits under certain conditions, but SSI is financed by general revenues and not Social Security taxes. SSI was not enacted by the administration of President Jimmy Carter (a Democrat); it was created and signed into law in 1972, during the administration of President Richard Nixon (a Republican).

‘Social Security' E-mail Debunked By Snopes

 

[RodISHI]

Social Security History

Social Security History

 

[JoeTheEconomist]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Reagan begun taxing SS and under Clinton the higher earners were also taxed, I mean why should the lower earners just be taxed??

I am writing a piece on these taxes this AM, and if you would like an answer to your question let me know and I will send you the link when it is published. Long article short, because Social Security would hit insolvency a heck of a lot faster and the cuts would be even larger than they are projected today.

 

[Penelope]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Reagan begun taxing SS and under Clinton the higher earners were also taxed, I mean why should the lower earners just be taxed??

I am writing a piece on these taxes this AM, and if you would like an answer to your question let me know and I will send you the link when it is published. Long article short, because Social Security would hit insolvency a heck of a lot faster and the cuts would be even larger than they are projected today.

Yes that would be great. Thank you. Personally I have no issue with the taxes on SS. Too keep up with the times, the tax on SS AGI should be raised, and there should be a tax at 100% of SS income as well.

 

[Supposn]

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

MoonGlow, has any taxes or funds allocated to Social Security been diverted for other purposes? You can provide authoritative links?

Respectfully, Supposn

Social security was set up as an off budget item, yet it is currently an online budget item which means they can play with funds if need be..

MoonGlow, why haven't you provided any responsive link?
Respectfully, Supposn
\

 

[JoeTheEconomist]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Reagan begun taxing SS and under Clinton the higher earners were also taxed, I mean why should the lower earners just be taxed??

I am writing a piece on these taxes this AM, and if you would like an answer to your question let me know and I will send you the link when it is published. Long article short, because Social Security would hit insolvency a heck of a lot faster and the cuts would be even larger than they are projected today.

Yes that would be great. Thank you. Personally I have no issue with the taxes on SS. Too keep up with the times, the tax on SS AGI should be raised, and there should be a tax at 100% of SS income as well.

I do not have an opinion on whether the benefits should be taxed. My concern is that few policy makers realize how important this income is to the system. JMO, the rules need to be revisited but we need to put more thought into crafting a solution than we put into creating the problem.

Tax Overhaul Without Social Security Reform Is Meaningless

 

[Votto]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Like a frog in a pot of water, just slowly crank up the heat and the frog stays put till it's dead.

 

[debbiedowner]

HISTORY LESSON ON YOUR SOCIAL SECURITY CARD

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 family and friends. 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 NOT FOR IDENTIFICATION message was removed.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. His promises are in black, with updates in red.

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, and 15% on the first $90,000 if you’re self-employed],

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 Johnson the money was moved to the General Fund and Spent], and

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

AND MY FAVORITE:

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!

Now, 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, though. Some Democrats are awfully sure of what isn’t so — but it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

Reagan begun taxing SS and under Clinton the higher earners were also taxed, I mean why should the lower earners just be taxed??

I am writing a piece on these taxes this AM, and if you would like an answer to your question let me know and I will send you the link when it is published. Long article short, because Social Security would hit insolvency a heck of a lot faster and the cuts would be even larger than they are projected today.

Yes that would be great. Thank you. Personally I have no issue with the taxes on SS. Too keep up with the times, the tax on SS AGI should be raised, and there should be a tax at 100% of SS income as well.

I do not have an opinion on whether the benefits should be taxed. My concern is that few policy makers realize how important this income is to the system. JMO, the rules need to be revisited but we need to put more thought into crafting a solution than we put into creating the problem.

Tax Overhaul Without Social Security Reform Is Meaningless

Isn't that already taxed when we earn it? If so why should it be taxed again?