Who destroyed Social Security?

Discussion in 'Politics' started by eflatminor, Aug 29, 2011.

  1. eflatminor
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    eflatminor Classical Liberal

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    Is this the idea of a political "promise"?:

    When FDR 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?

    A: 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!
     
  2. DiamondDave
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    DiamondDave Army Vet

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    Who destroyed it??

    Government, with it's tendency to keep expanding for ever increasing power..... and it's been across numerous government persons and parties
     
  3. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    To be fair, both parties took the surplus from the funds, of which was never suppose to happen.
    But is is the Dems who have destroyed it the most.
     
  4. DontBeStupid
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    DontBeStupid Look it up!

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    You can talk all you want about what the Democrats did. But, if you ignore the fact that 11 years ago we were looking at budget surpluses that were to be used to re-pay the Trust fund, and a GOP President decided to give tax cuts to the wealthy instead, well, if you ignore that, then you're just being a partisan hack.
     
  5. StevenC
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    StevenC VIP Member

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    We are largely to blame. We elect those that set the policies, and then reelect the same people over and over again. Also when people pull from SS even though they don't need it, that is a problem. I know it is supposed to be our money but if you don't need it you shouldn't take it. We need serious means testing on it.
     
  6. StevenC
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    StevenC VIP Member

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    Both parties are equally to blame. Bush needed dems to support the tax cuts also.
     
  7. MiddleClass
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    MiddleClass Moderate American

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    The Democrats wanted social programs and the Republicans only would allow them if they borrowed to pay them from Social Security Fund. Both Parities are to blame for what would be a completely funded Social Security if a lock box had been placed on it.
     
  8. MiddleClass
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    MiddleClass Moderate American

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    Yet, the majority of Dems voted against Bush's tax cuts for the wealthy.
     
  9. DiamondDave
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    DiamondDave Army Vet

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    Yawn... tax cuts were not only for 'the wealthy'

    Nor do tax cuts cause spending problems or increased spending
     
  10. California Girl
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    California Girl BANNED

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    If the money had not been stolen from the fund, there would be no reason to 're-pay' it. I couldn't give a shit which party did what.... I care that - again - both fucking parties prove beyond a reasonable doubt (to anyone with an IQ over room temperature) that they cannot be trusted with taxpayers money.
     

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