Aug 8, 2010

Facts About Social Security

Social Security Cards issued before 1980 [see above sample] expressly stated that the SS number and/or the SS card were NOT FOR IDENTIFICATION purposes.

But for some unknown reason, the NOT FOR IDENTIFICATION message has since been removed from more recently issued SS cards.

Also, according to the original Social Security Act (FICA), which was passed during Franklin Delano Roosevelt's administration:

1) Participation in the Program would be completely voluntary.

TODAY? After the original Social Security Act was amended by the Democrat-controlled during Lyndon Johnson's administration, participation in the SS Program is NO longer voluntary!

2) Participants would only have to pay 1% of the first $1,400 of their annual income into the Program,

TODAY? Again, as a result of the above amendment to the original Social Security Act, every worker MUST now pay at least 7.65% on the first $90,000 of one's gross income.

3) The money the participants elected to put into the Program would be tax deductible on one's tax return each year.

TODAY? Again, as a result of the amendment to the Social Security Act, it is NO longer allowed.

4) The money the participants contribute must be put into an independent 'Trust Fund' and would, therefore, be used to fund the Social Security Retirement Program ONLY.

TODAY? [Again, starting during the Lyndon Johnson administration], the money is now placed into a "General Fund" and spent by the federal government for various purposes.

5) The annuity payments to the retirees would never be considered as taxable income.

TODAY? [Because of yet another amendment to the original Social Security Act enacted by the Democrat-controlled Congress during the Clinton & Gore administration], up to 85% of one's Social Security benefits can be taxed.
Additionally . . .

Q: When were Social Security contributions transferred from the independent 'Trust Fund' and put it into the General Fund so that Congress could spend it?

A: As stated above [item #4], it was during Lyndon Johnson's administration and the Democrat-controlled House and Senate.

Q: Who eliminated the income tax deduction for Social Security (FICA) withholding?

A: The Democrat-controlled Congress.

Q: Who started taxing Social Security retirement benefits?

A: The Democrat-controlled Congress with the President of the Senate and the then Vice President Al Gore casting the 'tie-breaking' vote.

Q: Who decided to start giving Social Security benefits to immigrants?

A: The Democrat-controlled Congress during the Johnson administration.

According to an amendment/addition to the original Social Security Act: a parent or an unmarried, minor child may become eligible for monthly Social Security [SSI] benefits, even though that person has never contributed to the Social Security Fund and/or never been gainful employment in the USA, if/when that person obtains US immigrant status and arrives in the USA as a permanent resident via an approved petition of a sponsor in the USA [an immediate relative: son/daughter or parent/sibling, who is already a US permanent resident and/or a naturalized US citizen]!

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