SOCIAL SECURITY fact not fiction...
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Senior Member
Joined: Mar 2002
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From: NH
SOCIAL SECURITY fact not fiction...
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 party took Social Security from an independent fund and put it in
the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democratic-controlled House and Senate.
Q: Which party put a tax on Social Security?
A: The Democratic party.
Q: Which party increased the tax on Social Security?
A: The Democratic Party with Al Gore casting the deciding vote.
Q: Which party decided to give money to immigrants?
A: That's right, immigrants moved into this country and at 65 got SSI Social Security. The Democratic Party gave that to them although they never paid a dime into it. Then, after doing all this, the Democrats turn around and tell you the Republicans want to take your Social Security. And the worst part about it is, people believe it!
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SOCIAL SECURITY:
(This is worth the read. It's short and to the point.)
Perhaps we are asking the wrong questions during election years. Our Senators and Congress men &women do not pay into Social Security and, of course, they do not collect from it.
You see, Social Security benefits were not suitable for persons of
their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.
In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.
For all practical purposes their plan works like this:
When they retire, they continue to draw the same pay until they die, except it may increase from time to time for cost of living adjustments.
For example, former Senator Byrd and Congressman White and their wives may expect to draw $7,800,000.00 (that's Seven Million, Eight-Hundred Thousand Dollars), with their wives drawing $275,000.00 during the last years of their lives. This is calculated on an average life span for each.
Their cost for this excellent plan is $00.00. Nada. Zilch. This little
perk they voted for themselves is free to them. You and I pick up the tab for this plan. The funds for this fine retirement plan come directly from the General Funds-our tax dollars at work!
From our own Social Security Plan, which you and I pay (or have paid) into-every payday until we retire (which amount is matched by our employer) we can expect to get an average $1,000 per month after retirement. Or, in other words, we would have to collect our average of $1,000. monthly benefits for 68 years and one (1) month to equal Senator Bill Bradley's benefits!
Social Security could be very good if only one small change were made. That change would be to jerk the Golden Fleece Retirement Plan from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us ... then sit back and watch how fast they would fix it.
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 party took Social Security from an independent fund and put it in
the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democratic-controlled House and Senate.
Q: Which party put a tax on Social Security?
A: The Democratic party.
Q: Which party increased the tax on Social Security?
A: The Democratic Party with Al Gore casting the deciding vote.
Q: Which party decided to give money to immigrants?
A: That's right, immigrants moved into this country and at 65 got SSI Social Security. The Democratic Party gave that to them although they never paid a dime into it. Then, after doing all this, the Democrats turn around and tell you the Republicans want to take your Social Security. And the worst part about it is, people believe it!
========================================
SOCIAL SECURITY:
(This is worth the read. It's short and to the point.)
Perhaps we are asking the wrong questions during election years. Our Senators and Congress men &women do not pay into Social Security and, of course, they do not collect from it.
You see, Social Security benefits were not suitable for persons of
their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.
In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.
For all practical purposes their plan works like this:
When they retire, they continue to draw the same pay until they die, except it may increase from time to time for cost of living adjustments.
For example, former Senator Byrd and Congressman White and their wives may expect to draw $7,800,000.00 (that's Seven Million, Eight-Hundred Thousand Dollars), with their wives drawing $275,000.00 during the last years of their lives. This is calculated on an average life span for each.
Their cost for this excellent plan is $00.00. Nada. Zilch. This little
perk they voted for themselves is free to them. You and I pick up the tab for this plan. The funds for this fine retirement plan come directly from the General Funds-our tax dollars at work!
From our own Social Security Plan, which you and I pay (or have paid) into-every payday until we retire (which amount is matched by our employer) we can expect to get an average $1,000 per month after retirement. Or, in other words, we would have to collect our average of $1,000. monthly benefits for 68 years and one (1) month to equal Senator Bill Bradley's benefits!
Social Security could be very good if only one small change were made. That change would be to jerk the Golden Fleece Retirement Plan from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us ... then sit back and watch how fast they would fix it.
Senior Member
Joined: Nov 2002
Posts: 143
Likes: 0
From: Midwest
I agree that that Social security "benefits"should not be taxed up to a point, however many people now recieve many times more than they ever paid into the system. Even if you could account for investment gains it becomes an entitlement program, at that point a recoupment tax to help insure the solvency of the system would be fair.
While the Democrats have expanded the system and done other things to damage it, they are the ones who created it against the wishes of the Republican party. Several prominent Republicans have publicly stated they will defund Social Security and Medicare and let the programs die on the vine.
I don't like the current policies of either party right now and think they both only care about their own political asperations and the pocketbooks of their contributors. They are both currently damaging our nation. I would take a moderate Democrat or a moderate Republican any day over the fanatical zealots who currently control both parties.
Your suggestion about putting the lawmakers on the same plan as the rest of us is a good one. I also think that a congressman or Senators annual wages should be based on the annual wages of the constituants that live in their Districts. Watch then how fast the labor laws would change to protect the working Americans in this country.
While the Democrats have expanded the system and done other things to damage it, they are the ones who created it against the wishes of the Republican party. Several prominent Republicans have publicly stated they will defund Social Security and Medicare and let the programs die on the vine.
I don't like the current policies of either party right now and think they both only care about their own political asperations and the pocketbooks of their contributors. They are both currently damaging our nation. I would take a moderate Democrat or a moderate Republican any day over the fanatical zealots who currently control both parties.
Your suggestion about putting the lawmakers on the same plan as the rest of us is a good one. I also think that a congressman or Senators annual wages should be based on the annual wages of the constituants that live in their Districts. Watch then how fast the labor laws would change to protect the working Americans in this country.