"This law represents a cornerstone in a structure which is being built but is by no means completed--a structure intended to lessen the force of possible future depressions, to act as a protection to future administrations of the Government against the necessity of going deeply into debt to furnish relief to the needy--a law to flatten out the peaks and valleys of deflation and of inflation--in other words, a law that will take care of human needs and at the same time provide for the United States an economic structure of vastly greater soundness." -FDR August 14, 1935
[This quote is true, however the following information, which is being posted all over the internet, may not be factual]
'When Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program and signed it into law on August 14, 1935, he devoutly promised the People of the United States that:
1) Participation in the Social Security Program would
be completely voluntary!
Well it’s no longer exactly voluntary, is it?
2) That the participants would only have to pay 1% of the
first $1,400 of their annual incomes into the Program!
We now pay 7.65% on the first $90,000 we make!
3) That the money the participants elected to put into
the Program would be deductible from their income for tax purposes each
year!
Well, gee wiz and darn the luck; it’s no longer tax
deductible!
4) That the money (from the participants) be put into an independent
'Trust Fund' rather than into the general operating fund. This was done to
insure that these monies would only be used to fund the Social
Security Retirement Program, and no other Government program!
Under Johnson’s
Administration, the money was moved to The General Fund and Spent in its
entirety. Poof! All gone! So sorry!
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 -- Only to discover that we are getting taxed on 85%
of the money we paid to the Federal government to 'put away'!'
You may also be interested in the following tidbits:
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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.
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Q: Which Political Party eliminated the income
tax deduction for Social Security (FICA) withholding?
A: Uh, the Democratic Party? Ring that bell, you’re
right again!
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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. (Are
we seeing a pattern here)?
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Q: Which Political Party decided to start giving annuity
payments to immigrants pro gratis?
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!
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Notice: Please never take what you see on the 'net' as authoritative information and then believe it to be the gospel. Research everything as part of your individual commitment to due diligence. People who are involved in politics make it their business to spin, deceive and distort. This is true of both parties as they constantly vie for control of our government and, in their eagerness, sometimes throw the truth under the bus!
