12/21/2021 Social Security Lies   Leave a comment

With the end of the year in sight my mind turns to things financial. Today is as good a day as any for a short history lesson on the ever so popular Social Security Program. Back in the day my parents thought that FDR could walk on water because he saved us all from imminent destruction by fending off the economic disaster that was the Great Depression. It’s true to a point but what he did has evolved over the ensuing years into a serious liability instead of an asset. His world saving programs have morphed over time and are currently responsible for some of the misery we are experiencing today. Here’s your history lesson . . .

  • 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 message, “NOT FOR IDENTIFICATION” was removed from the card.

President Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) program. He promised:

  • Participation in the program would be completely voluntary. No longer voluntary.
  • The money the participants elected to put into the program would be deductible from their income tax for tax purposes each year. No longer tax-deductible.
  • 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 programs. Under President Johnson the money was moved into the General Fund and spent.
  • The annuity payments to the retirees would never be taxed as income. It is now taxable thanks to Clinton/Gore.

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 the money we paid to the federal government to put away for us. I thought you might be interested in the following:

  • Q: Which political party took money from Social Security 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 vote while he was Vice President of the United States.
  • Q: Which political party decided to start giving annuity payments to immigrants?
  • A: That’s right! Jimmy Carter and that 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 the system. Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away. The worst part about it is that millions of uninformed citizens continue to believe these lies. Take the time to explain it to your family, especially your kids. They’ll ask questions you may not want to answer.

IGNORE HISTORY AND YOUR DOOMED TO REPEAT IT

4 SHOPPING DAYS LEFT

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