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> We can all try (!) to build up large bank
> accounts to cover
> retirement - or we can support Social Security and
> then draw from it when
> needed, and use NOW some of the cash we would have
> had to squirrel away,
> or have more leisure time now, etc.
Here's a few interesting facts about SSI:
When Franklin Roosevelt introduced the Social Security
(FICA) Program. He promised:
- That participation in the Program would be
completely voluntary,
- That the participants would only have to pay 1% of
the first $1,400 of their annual incomes into the
Program,
- That the money the participants elected to put into
the Program would be deductible from their income for
tax purposes each year,
- 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,
- That the annuity payments to the retirees would
never be taxed as income.
Now a-days we find that we are getting taxed on 85% of
the money we paid to the Federal government to "put
away," and that's not all folks:
Lyndon Johnson and the Democratically-controlled House
and Senate took Social Security from the independent
"Trust" fund and put it into the General fund so that
Congress could spend it; the evil corporations had
nothing to do with that.
The Democratic House and Senate caucus started taxing
Social Security annuities with Al Gore casting the
"tie-breaking" deciding vote as President of the
Senate, while he was Vice President of the U.S; the
evil corporations had nothing to do with that.
Jimmy Carter and the Democratic House and Senate
caucus decided to start giving annuity payments to
immigrants. Immigrants moved into this country, and
at age 65, began to receive SSI Social Security
payments, even though they never paid a dime into it;
the evil corporations had nothing to do with that.
We can certainly expect "ditto" if we ever do ger
Universal Health Insurance.
Personally, I'll stay out of any government
administrated pool thank-you very much.
TJSwift
Cherokee Park Collective
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