Social Security History Lesson

Posted By on March 18, 2016

A History Lesson About Your  Social Security Card

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,  introduced the Social
Security (FICA) Program. He promised:

1.) That participation in the Program would be
Completely voluntary,


It’s 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,
 


It’s 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, and,


Under 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 Clinton & Gore
Up to 85% of your Social Security can be Taxed


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One Response to “Social Security History Lesson”

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