Your Social Security

• Got this in an email.  While it's well known by a few, it may come as a surprise to others.  So I wanted to post it so I could quickly recall the information, if necessary.
• Social Security birthday this month...it turns 75.
• Social Security, as originally envisioned, was a wonderful program to aid the elderly who lived beyond the normal life expectancy and, thus, were in danger of outliving their savings and becoming destitute.  It was a great idea!  However, it's biggest failure was that receipt of benefits was never indexed to an increase in life expectancy, as we have enjoyed in the past 50 years.  That can and, no doubt, will be fixed.
• Now, for some history on Social Security that you won't see in the main-stream media, now or ever.  Make a copy and learn these facts--they're relevant!!!  Be sure to show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican.  Facts are  facts!!!
• Social  Security Cards up until the 1980's expressly stated the number and that the numbers were not to be used for identification purposes.  But, since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was eventually removed.  An old Social Security card with the "NOT FOR IDENTIFICATION" is in the picture above.  The cards are not supposed to be laminated.
• Franklin Roosevelt, a Democrat, initially introduced the Social Security (FICA) Program.  The way it was initially set-up to operate:

1. That participants would only pay 2% total on the first $3,000 of their annual income into the Program.  It is now 12.4% (you pay half and employer pays half) on the first $106,800 (Medicare tax is another 2.9% total).
2. That the money would be secured away in an independent "Trust Fund" rather than combined with the Federal Government's general operating fund, and thus, could only be used to fund the Social Security Retirement Program and no other Government programs.  However, the Lyndon B. Johnson Administration established the "Unified Budget" which combined the Trust Fund with the General Fund...he needed the extra $$$ to fund the Vietnam War AND, simultaneously, hugely expanded anti-poverty programs via his "War on Poverty".
3. That the annuity payments to retirees would not be taxed as income.  One of the tax hikes during Clinton/Gore established taxing up to 85% of your Social Security benefits.  (How special.  So, you basically get taxed on money that you already paid as a tax.  Slick, huh?)

• Since many have paid into FICA for years and are or hope to eventually receive their Social Security benefits -- and that 85% of it is taxable on money you've already paid to the Federal Government to 'put away' -- it may be helpful to remember some simple facts:
• 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 started taxing Social Security benefits?
• A: The Democratic Party.  Of special note, Al Gore had to cast the 'tie-breaking' deciding vote as President of the Senate while Vice President of the US. 
• Q:  Which Political Party decided to start giving benefit payments to immigrants?
• A: That's  right!  It was Jimmy Carter and the Democratic Party.  It encouraged immigrants to come to this country, and at age 65, became eligible to receive Social Security benefits!  Benefits were paid despite whether or not any payments into the system had ever been made. 
• Then, after violating the original contract (FICA), the Democrats turn around and attempt to rile you up by telling you that the Republicans want to take your Social Security away!
• The worst part?  Most uninformed citizens fall for the emotional bait.  Now you don't have to!
• However, facts and history can be such a pesky thing...totally disruptive against the emotional, non-informational based argument.
• By the way....here's probably one of the most pointed descriptions of how the "unified budget" has completely destroyed the solvency of Social Security by allowing Congress to spend the surpluses at will.