History Lesson on Your Social Security Card

[fredball]

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.




Our Social Security
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, 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

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?

AND MY FAVORITE:

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!

Read More

 

[Mark W.]

I have my original SSC in my wallet right now.

Can you please tell me where on the car it says it is not to be used for ID?

The very top edge of mine is worn away so if thats where its at I would like to know that.

Looking at dozens of photo and scans of SSC on line I see no mention of this do not use for ID you bring up. I have had my card since 1974

 

[RedneckRampage]

I do remember seeing on my replacement card, or the paperwork that came with it, that it is "Not to be used as identification"...

 

[keystir]

Unfortunately about 95% of what you posted is incorrect. You have a right to your opinion about Social Security and its benefits and downfalls but passing off myth and half truth's as cold hard fact is disingenuous at best. Whether you like it or not Social Security has helped to drastically reduce the elderly poverty level in this country especially among single, divorced or widowed women.

 

[Rapid1]

why don't you enlighten us? which 95% of his post is incorrect?

 

[Burt Gummer]

All I know is we are bankrupt and the odds of me ever seeing one dime of SS money is about 1%.

"They are coming for your retirement money so they can give it to their criminal friends on Wall St; and they'll get it too - because they own this f-ing place." - George Carlin on the Banking elite, too big to fails.

The real interesting document is your birth certificate. It is really your document of ownership. The red Capital letters and numbers are your stock number.
Fun stuff.

 

[rufus]

Unfortunately about 95% of what you posted is incorrect. You have a right to your opinion about Social Security and its benefits and downfalls but passing off myth and half truth's as cold hard fact is disingenuous at best. Whether you like it or not Social Security has helped to drastically reduce the elderly poverty level in this country especially among single, divorced or widowed women.

Like it or not, it's true. SS has become a monster, more of a slush fund for lawmakers than a savior for the elderly and women. Actually, it makes the elderly and women, especially old women, slaves to the state.

 

[fredball]

Unfortunately about 95% of what you posted is incorrect. You have a right to your opinion about Social Security and its benefits and downfalls but passing off myth and half truth's as cold hard fact is disingenuous at best. Whether you like it or not Social Security has helped to drastically reduce the elderly poverty level in this country especially among single, divorced or widowed women.

Please be specific about the 95% of what is not correct the part you disagree with because it's inconvient

 

[pokerace]

why don't you enlighten us? which 95% of his post is incorrect?

Si SI tell us...


My ss cards, (yes cards), I received 2 one white one yellow

they both say not to be used for ID..

 

[2506]

I'm waiting to hear about the 95%....

<crickets>

 

[Jamie6.5]

I'm waiting to hear about the 95%....

<crickets>

Kinda hard to find documentation/evidence that doesn't exist.

On another note,...
I just noticed my replacement card, issued in 1998 says:

This card belongs to the Social Security Administration and you must return it if we ask for it.

So, it's my card,... But it belongs to them.
Interesting.

 

[keystir]

1.) "Social Security Cards up until the 1980's expressly stated the number and card were not to be used for identification purposes."

TRUE &#8211; From 1946 to 1972 Social Security cards did state they were not to be used as identification. This was simply because prior to 1972 having a social security card did not establish identity as there were no real requirements to obtain one. It did not mean the number could never be used though.

2.) " That participation in the program would be completely voluntary"

FALSE &#8211; This was never "promised" by anyone. Since the inception of social security any person employed in a job covered by social security were subject to the FICA tax. There were less jobs covered by social security in its early days but the idea that FDR promised the program would be completely voluntary is false.

3.) "That the participants would only have to pay
1% of the first $1,400 of their annual
Incomes into the program."

FALSE &#8211; originally the social security tax was 1% on the first $3,000 of income. It was never $1,400 and the rate was never a fixed amount nor were there any "promises" of this.

4.) "That the money the participants elected to put
into the Program would be deductible from
their income for tax purposes each year."

FALSE &#8211; There was never any "promise" whatsoever that payments into social security would be deductible from their income taxes, in fact the original law expressly prohibited this.

5.) "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."

TRUE &#8211; Not technically accurate but I can't argue with premise.

6.) "That the annuity payments to the retirees would never be taxed as income."

FALSE &#8211; This was never "promised" by FDR nor was there any provision in the law stating they would never be taxed, it is true though that originally social security income was not taxed as income.

7.) "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.

TRUE &#8211; Again, nothing to argue here.

8.) Q: Which Political Party eliminated the income tax
deduction for Social Security (FICA) withholding?
A: The Democratic Party.

FALSE &#8211; Again, there was never any provision to deduct FICA withholding from income taxes.

9.) 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

FALSE &#8211; Taxation of social security annuities started in 1984 when then president Ronald Reagan signed into law amendments to the social security law. The vote in congress was overwhelmingly bi-partisan

10.) Q: Which Political Party decided to start
giving annuity payments to immigrants?

AND MY FAVORITE:

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!

FALSE &#8211; No one, including immigrants are able to collect social security benefits without someone paying into the system. Be careful not to confuse social security with supplemental security income (SSI). SSI was an initiative of the Nixon administration and started in 1972.


I stand corrected, unfortunately 70% of what you said is incorrect.

 

[Jamie6.5]

When it was started, the life expectancy of the average American was around 68 years of age.
That's why they set the retirement age at 65.

 

[deen_ad]

I was going to look at my SS card but then I remembered that I was told NOT to carry it so it's in one of our safes.

 

[Burt Gummer]

There really isn't anyone under the age of 50 that expects to ever see a dime of SS money is there? Those funds are an impossible fraud and will not be there for you.

Please, do yourself a favor and become less government dependent in every way - and that includes not thinking these bozos will be there for you in a crisis. Hyperinflation of our fiat currency is pretty much a certainty in the next decade and will wipe out all such gov liabilities. We are broke and exploding in debt. The 15 trillion dollars doesn't even include all these impossible entitlements.

The gov is concerned about its survival, not yours. We are disposable commodities. I just sincerely hope that no one really believes that SS will be there for them. If they ever offer an opt-out for SS with a lump sum payment I would take that in a heartbeat. Something now vs nothing then. Same with any IRA. Again, it will not be there for you.

 

[keystir]

If Absolutely nothing was done to social security the trust fund would pay out full benefits until 2038. After 2038 the program would only pay out 81% of benefits. This level of benefits would be sustainable into the foreseeable future since funds are paid into the system through FICA taxes every year. A 1.5% increase in the FICA tax or ending the payroll tax cap on income over $106,000 would close this gap in benefits indefinitely. I fully expect to see social security income when I retire and hopefully the necessary changes are made so I can see my full benefits.

Having said that, I completely agree with Burt, becoming less dependent on the government is the way to go. Going through life with the idea that someone else, let alone a government program controlled by politicians will be there to take care of you in your later years is a sure recipe for failure. Unfortunately, some people either through their own personal decisions or through no fault of their own would not be able to make it without social security income.

 

[jbett98]

I am self employed. I pay double what an employee of a business pays into it.

 

[Bigfoot]

If Absolutely nothing was done to social security the trust fund would pay out full benefits until 2038.

Except that there is no such thing as a SS trust fund. The Federal government spent all the money, plus the 16 trillion that they borrowed. Plus 4 trillion in combined state debt.

And don't expect industry to pull us out like they did in the past cause the US now has the worlds highest corporate taxes.

 

[Burt Gummer]

I am self employed. I pay double what an employee of a business pays into it.

I am in the same boat and have paid in every year since high school. Not once have I ever taken a penny in assistance either.

America is in bankruptcy and cannot pay out any entitlements, let alone SS, until 2038. That is government BS.

The status quo is coming to an end, all entitlements will stop, and the carnage will begin long before that date. That is the scenario the government is preparing for; are you?

 

[rufus]

I am self employed. I pay double what an employee of a business pays into it.

Same here. Don't even get me started on taxes...