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    • Michael Stuart Kelly

      Major Update to OL (please click to open)   02/09/2016

      Sorry for the inconvenience, but we had to update OL and there have been some serious changes made by IPB. The real bad news is that they had to merge User Names and Display Names. This meant that I had to choose between bad and bad. I opted to keep the log-on information the same, so you can get on OL like you always did, but now your User Name is displayed. If your User Name and Display Name were the same, you will not feel the change. If they were different, you are probably irritated right now. I will figure out how you can change this so you can revert to the Display Name you used before if you like, however this may entail a change in how you log-on. The good news is that OL is now searchable from the very beginning. This means all the old posts from the A-Team in Objectivism (and everybody else) will finally show up when you search for something. I will keep changing this announcement as we adapt to these new changes. It's a pain, I know, but after looking around the backend for a bit, I believe the benefits will far, far outweigh the current irritation. They changed things in a hamhanded way and I don't like that, but I can't do anything about it. Benefit-wise, they actually did a good job, so please bear with us. In addition to this change, many good things are coming over time. You are the reason OL exists and I am sorry you have to go through this. Think of it like birth pangs... (All right, all right, that's forcing it.  ) Michael
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GALTGULCH8

Who stole your Social Security?

2 posts in this topic

<<<"Subject: Great History Lesson - SOCIAL SECURITY & YOUR SS CARD

I have heard of some of these but didn’t realize all of the below historical

facts……

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.

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, each year,

No longer tax deductible

4.) That the money the participants put into the independent SSI ‘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 --

We nowfind 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! Obama can't run on his record so he will do anything to distract the issues. Be informed and inform others to his tatics and blame game. Three years later and 16 trillon dollars in debt and Obama wants more.">>>

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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

The rate now is 7.65% of the first $110,100 of wages, salaries, etc. and 1.45% of the wages, salaries, etc. above $110,100 for employers. It is 5.65% of the first $110,100 of wages, salaries, etc. and 1.45% of the wages, salaries, etc. above $110,100 for employees, due to the temporary reduction (link). The 1.45% above $110,100 and 1.45% of the 7.65% or 5.65% is for Medicare.

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

No longer tax deductible

This is confused. The employee part has never been deductible. The employer part has always been deductible. Self-employed people pay both parts and deduct the employer part.

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!

Huh? Many spouses, immigrants or not, have always been able to receive Social Security payments w/o having paid FICA taxes. They can collect based on their mates' covered employment. To receive benefits based on his/her own earnings, an immigrant must pay FICA taxes while working in covered employment the minimum number of quarters.

I am not aware that Carter did anything to Social Security except sign legislation to fix the double-indexing mistake made by the 1972 amendments.

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