The Financial Crisis Support Group
This community is dedicated to discussing the financial crisis of 2007-2008, which has had a worldwide impact on wealth, jobs and personal security. Our hope is that this community will focus on positive thoughts, real advice for adjusting your expenses and investments based on these changes, and support for one another as we go through this painful period.
Did you know this?
Just in case some of you young whippersnappers (and some older ones) didnt know this, it's easy to check out, if you dont believe it. Be sure to show it to your kids.. They need a little history lesson on what's what.
Facts are Facts!!!
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
2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the program
3.) That the money the participants elected to put into the program would be deductible from their income for tax purposes each year
4.) That the money the participants paid would be 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
5.) That the annuity payments to the retirees would never be taxed as income.
Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then find that we are getting taxed on 85% of the money we paid to the federal government to "p ut away"--you may be interested in the following.
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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 Democrat-controlled House and Senate.
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Q: Which political party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
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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
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AND MY FAVORITE:
Q: Which political party decided to start giving annuity payments to immigrants?
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!
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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!
Actions speak louder than bumper stickers. AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
"A government big enough to give you everything you want is strong enough to take everything you have." -Thomas Jefferson
Just in case some of you young whippersnappers (and some older ones) didnt know this, it's easy to check out, if you dont believe it. Be sure to show it to your kids.. They need a little history lesson on what's what.
Facts are Facts!!!
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
2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the program
3.) That the money the participants elected to put into the program would be deductible from their income for tax purposes each year
4.) That the money the participants paid would be 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
5.) That the annuity payments to the retirees would never be taxed as income.
Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then find that we are getting taxed on 85% of the money we paid to the federal government to "p ut 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 Democrat-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
-----------------------------------------------
AND MY FAVORITE:
Q: Which political party decided to start giving annuity payments to immigrants?
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!
Actions speak louder than bumper stickers. AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
"A government big enough to give you everything you want is strong enough to take everything you have." -Thomas Jefferson
Spare me.
There are a lot of vicious and accusatory things flying around the Internet, mostly because we are looking for a scape goat to blame and in our desperation any target will do. The truth is that most of the problem is a usery based economy that we've been seduceed into believing is a good economy. Usery is what it is, using the poor to finance the gain of the already rich. Those who make a fairly decent living find themselves believing that this is a good thing when it is the users who gain and not those in the middle who are swept along by the seduction of gaining more wealth.
So here is a link concerning some Social Security Myths. http://www.ssa.gov/history/InternetMyths.html
Social Security was never as simple as the myth makes it out to be. Unfortunately the emotions that we attatch to our belief of what Social Security really is are miss guided buy our own greed and sense of security. Social Security is no different than unemployement benifits. Both are a big government attempt of stabilizing an unstable economy and both have their own pluses and minuses. As a member of this society and economy you learn to love and hate both of them. You hate paying into them because that takes away from todays paycheck and you love getting paid by both of them when you need it.
There will never be a quick, painless or simple fix to what is wrong. And there will never be a single culpable bad guy to blame it on.
Shevan thank you for voicing the truth, this is neither a Republican nor a Democrat thing it is a WE THING. And that is my point, we are our oen villans.
Please don't allow the juvenile actions of others keep you from enlightening us with all the good you have to offer. I don't care what the religion or party is as long as it is good and right for both now and the long haul.
It's all about what you think you are entitled to, what you think you deserve. At this point in time I'm not sure just what that is, all I know is that what I think it was is diminshing and going away and that isn't a fun feeling. I found a YouTube video of a Konan o'Brien episode that puts it pretty well:
http://www.youtube.com/watch?v=yk7nKjr9Keo
What is it that we think we have coming to us, and who else gets it as well?
By the way, any time you see that Thomas Jefferson quote, look twice. It is often used as an emotional hook to get you sucked into something that may not be true.
In 1980 Ronald Reagan thought that anybody that was not communist was a good investment, including third world dictators. The CIA destabilized those regions. In many regions democratic elected governments were overthrown.
Through out the eighties, all these countries defaulted on their loans. They had to spend too much on military equipment from the United States to industrialize themselves.
We got robbed.
Bait and switch politics. Basically, our Social Security money went to the Military Industrial Complex in the name of industrializing poor countries.
Iraq was just a welfare program for Haliburten.
I wonder how much of the bail outs are not welfare programs for Goldman Saks.
There is plenty of Social Security and Welfare for the wealthy. They do not want the working person to have anything.
It is our hard work that builds the business and our spending that supports the business.
Taking away money and work for the common man is destroying the economy.
Mike
Who knows if that would have actually been true but we will never know since it became a source to back up the general fund/budget.
I paid into the SS system 50 years before I retired and never complained but the system we have today is not the system that it was suppose to be when it was originally established.