If there is anyone out there that doesn't know this, this is the best visual presentation I ever saw... Now don't be mad at old people, (or me) just remember who did this......
Our Social Security
Franklin Delano. Roosevelt (Terms of Office March 4, 1933, to April 12, 1945), a Democrat, introduced Social Security (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:
If I recall correctly, 1958 is the first year that Congress, not President Eisenhower (34th President, Republican, Term Of Office: January 20, 1953 to January 20, 1961), voted to remove funds from Social Security and put it into the General Fund for Congress to spend.
If I recall correctly, it was a democratically controlled Congress.
From what I understand, Congress’ logic at that time was that there was so much money in Social Security Fund that it would never run out/be used up for the purpose it was intended/set aside for.
Question: Which Political Party took Social Security from the Independent 'Trust Fund' and put it into the General Fund so that Congress could spend it?
Answer: It was Lyndon B. Johnson (Democrat, Term of Office: November 22, 1963 to January 20, 1969) and the democratically Controlled House and Senate.
Question: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
Answer: The Democratic Party.
Question: Which Political Party started taxing Social Security annuities?
Answer: The Democratic Party, with Albert Arnold Gore, Jr. (Al Gore) [Vice President Term of Office: January 10, 1993 to January 20, 2001] casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US ....
THE STRAW THAT BROKE THE CAMEL'S BACK