Franklin Roosevelt, a Democrat, introduced the SocialSecurity (FICA) Program. He promised: 1.) That participation in the Program would be completely voluntary, 2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program, 3.) That the money the participants elected to put Into the Program would be deductible from their income for tax purposes each year, 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, and, 5.) That the annuity payments to the retirees would never be taxed as income ------------------------------------------------------------------- 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 Democratic 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? This is MY FAVORITE: A: That's right! Jimmy Carter! And the Democratic Party of course! 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 doing all this lying and thieving and violating of 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!
It aint like that anymore. I say get rid of the cap and let the rich guys pay SS also, that would solve the whole problem.
The solution might be to keep the liberal Democrats out of Washington........ So all we can do is show our contempt for them. Oh yes, old buddy, did you get the message? Here it is again
Legally, as I'm self-employed for the purposes of Social Security (but an employee for the purposes of my form 1040 - the standard tax form for Americans), I'm paying the ENTIRETY of the 15.2% of my salary that is my Social Security contribution. My employer (a church) is required by the higher ups in the denomination to give me the 7.6% of my salary that they would have given the government if they were a regular employer. But guess what? That 7.6% is taxable as income! So my Social Security payments are taxed going in, and will be taxed coming out.
The point is that you pay SS on your foirst 90K the rest has NO SS payment. Therefore the rich are ripping off the poor.
