Subject: Who Took My Money?

[sid]

Who Took My Money?

Actually, Democrat President
Kennedy and Sergeant Shriver were the first ones to misuse
the Social Security account. They used Social Security
funds to start the Peace Corps.
Not the first or last time our money has been taken from
American citizens and given to foreign
nations.



Things every US citizen should know
and remember about Social Security and changes
made:



A History Lesson on Your Social
Security Card . . Just in case some of you young
whippersnappers (& some older ones) didn't know
this. It's easy to check out, if you
don't believe
it. Be sure and show it to your family and
friends. 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 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.



Franklin Roosevelt, a Democrat,
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.

Under Democrat President 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 Democrats 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 Democrat
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: 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!



Then,
after violating the original contract (FICA), the Democrats
turn around and tell you that the Republicans want to take
your Social Security
away!



And the worst part about it is
uninformed citizens believe it!

If enough people receive this,
maybe a seed of awareness will be planted and maybe changes
will evolve.



But
it's worth a try.



How many people can YOU send this
to?

Actions speak louder than bumper
stickers.

[togor]

So is this just a chain email rant or are there specific recommended actions? Guessing the first one but hey one never knows.

[Clark Howard]

Ignorance abounds, and the dems are glad to take advantage. There is an end to all cons.

[togor]

Well let's abolish the program then. Starting now. Who wants to call their congressman first?

[blackhawknj]

No, we just want it to be used for what it was originally intended for, not as a cash cow and a piggy bank.

[Allen]

Thanks for posting Sid.

Strange how funds for welfare are never touched, never in jeopardy, never even discussed and are always "there".

[togor]

Sorry, Sid is just ranting. "My benefit check isn't big enough and people I don't like are to blame." Do I really have to deconstruct the chain email line by line to make my point? You guys know that I'm just the type to do it!

[Vern Humphrey]

As I said earlier, after I retired from the Army, I had a job that had a 401k. I put the max into it, 15% for about 10 or 12 years. At the same time, I was putting 15.3% into Social Security (that includes the "employer's contribution" which is money I earned, of course.)

Now I have to take the Minimum Distribution from that 401k. It is MORE than my Social Security AND my wife's Social Security combined!!

Imagine if we had been allowed to keep and invest the money the government took from us in FICA taxes! The Government stole a fortune from us!

[oscars]

This post is just plain wrong and borders on pure crap. Try using some other reference other than Brightfart or Fux News, The whole of the government operates with money that operates in a fungible manner with no differentiation as to source or outcome. It has been this way since before Social Security was conceived, regardless of various conspiracy theories about SS funding various social programs.

Occasionally some genius will play with some purported SS “account” to fix some sort of deficit financing plan, but, as I mentioned, all of the government comes out of the same kitty. There was an attempt in the early eighties to justify a massive increase in the SS tax by proposing an account to be use to fund Boomer benefits. This plan went by the wayside when OMB need to find a way to fund Reagan’s tax cuts and military spending. So, back to total fungible kitty as before.

As a sidebar, you will outdraw what you put into SS if you collect for as little as 2.5 to 3 years.

[Allen]

The Government stole a fortune from us!

Most of us wouldn't mind paying taxes and in some cases more taxes if the Government used the money responsibly and didn't use it to degrade America, contribute to the very countries that want to annihilate us (using our money), stash the money into "secret funds", raise a society of useless people to society, and have absolutely no accountability as to how and how much is spent or directed.

[Vern Humphrey]

Most of us wouldn't mind paying taxes and in some cases more taxes if the Government used the money responsibly and didn't use it to degrade America, contribute to the very countries that want to annihilate us (using our money), stash the money into "secret funds", raise a society of useless people to society, and have absolutely no accountability as to how and how much is spent or directed.

If the government used the money responsibly, we wouldn't have to pay more taxes -- we'd pay a lot less.

Note there is often a canard advanced about Social Security -- "you get it all back in X years." No, you don't -- because the people who say that ignore the Time Value of Money. Money invested grows over time -- that first dollar you paid into Social Security would be worth about $500 by the time you retired, and you sure as hell won't get THAT back in decades of drawing Social Security.

As I pointed out in the example I posted earlier -- my investments quickly outstripped Social Security, to the point that only a decade or so of investing brings me much more than my Social Security AND my wifes' Social Security.

[Allen]

If the government used the money responsibly, we wouldn't have to pay more taxes -- we'd pay a lot less.

Agree, but feel that would be asking too much.

If SS funds had been placed in a protected account there would be an ample amount of cash present and not the Ponzi scheme that it has been turned into.

What is sad is the current and future generations who will be forced to pay into SS and get nothing or very little in return.

[Vern Humphrey]

Agree, but feel that would be asking too much.

If SS funds had been placed in a protected account there would be an ample amount of cash present and not the Ponzi scheme that it has been turned into.

What is sad is the current and future generations who will be forced to pay into SS and get nothing or very little in return.

Indeed it is sad. What we should have done is establish something like a 401k. Years ago, at the request of a Virginia Congressman, I ran a projection on such a plan. Social Security was then running a surplus, and I proposed the surplus be given back to the workers, in a Personal Retirement Account. They would own and manage their own PRAs -- but would be provided simple, easy to understand advice.

At retirement, each worker would be guaranteed his Social Security but the first dollars would come from his PSA. This would increase the Social Security surplus -- by the amount not paid to people with PSAs. Using data from similar systems (England, Chile) I projected that at about 30 years the average worker would have ALL his Social Security covered by his PSA, And by 40 years, people would be retiring with real wealth.

[Allen]

people would be retiring with real wealth.

That would make them self sufficient and not be dependent upon the government. Can't have that---too many Republicans---gotta have bums, homeless, uninsured, sick, illegals to beg for the government handouts and then pay with democrat votes to "keep it going". The early years of socialism/communism.

[Vern Humphrey]

That would make them self sufficient and not be dependent upon the government. Can't have that---too many Republicans---gotta have bums, homeless, uninsured, sick, illegals to beg for the government handouts and then pay with democrat votes to "keep it going". The early years of socialism/communism.

You are exactly right. People who are self-sufficient don't make good slaves. Keep the people poor and miserable and dependent on government for their livelihood.