oldfart
Older than dirt
But, Care...it was on the internet. It MUST be true!
You mean like Snopes ?
This was supposedly in a 1936 pamphlet on Social Security. It does not mean it was in the law. What it does support is FoxFire's assertion that it was sold to the people of that time on this.
Looks like Care needs to understand the difference between what the law says and what people are told what a law will say. And Social Security was sold (like Obamacare) on a helk of a lot of bullcrap.
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The taxes called for in this law will be paid both by your employer and by you. For the next 3 years you will pay maybe 15 cents a week, maybe 25 cents a week, maybe 30 cents or more, according to what you earn. That is to say, during the next 3 years, beginning January 1, 1937, you will pay 1 cent for every dollar you earn, and at the same time your employer will pay 1 cent for every dollar you earn, up to $3,000 a year. Twenty-six million other workers and their employers will be paying at the same time.
After the first 3 yearthat is to say, beginning in 1940you will pay, and your employer will pay, 1.5 cents for each dollar you earn, up to $3,000 a year. This will be the tax for 3 years, and then, beginning in 1943, you will pay 2 cents, and so will your employer, for every dollar you earn for the next 3 years. After that, you and your employer will each pay half a cent more for 3 years, and finally, beginning in 1949, twelve years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay. (emphasis and underlining added)
This ain't Hell, but you can see it from here » Blog Archive » Three Historical Social Security ?Whoppers?
Further down the link......
Oh, and in case youre wondering, insipid: the 1936 Social Security pamphlet doesnt say a damn thing about insurance or premiums; those words dont even appear in the pamphlets text. (The pamphlet does, however, sell Social Security as a de facto national retirement plan.) The payments made to retirees are termed Old-Age Benefits; payments made by employees and employers are clearly identified as taxes. Even at this early date, Social Security never called itself or sold itself as some type of insurance. Calling Social Security insurance is simply a bogus smokescreen used by those who wish to obscure Social Securitys true nature: a inter-generational income transfer program, AKA welfare.
Give it up. You lost this debate a long time ago and you are just embarrassing yourself. You look more ridiculous with every post.