Democrats repeatedly broke Social Security promises
Re Kevin G. Hall’s article, “Five ways to fix Social Security,’’ Nov. 3:
I think a Social Security history lesson is in order.
President Franklin D. Roosevelt, a Democrat, introduced the Social Security (FICA) program in 1934. He promised that the program would be completely voluntary. It is no longer voluntary. He promised that the participants would only have to pay 1 percent of the first $1,400 of their annual income into the program. It is now 7.65 percent on the first $90,000.
He promised that the money the participants elected to put into the program would be deductible from their income tax each year. Social Security is no longer tax deductible. He promised the money of the participants would be put into the independent “Trust fund” rather than into the general fund, and therefore would only be used to fund Social Security and no other government program. Under President Lyndon Baines Johnson, a Democrat, the money was moved to the general fund and spent.
He promised the annuity payments to the retirees would never be taxed as income. Under President Bill Clinton, a Democrat, up to 85 percent of your Social Security can be taxed. Jimmy Carter and the Democratic Party decided to start giving annuity payments to immigrants who have moved to this country, and at age 65 begin to receive Social Security payments. The Democratic Party gave these payments to them even though they never paid a dime into the program.
Social Security cards up until the 1980s expressly stated the card was not to be used for identification purposes. Since nearly everyone in the United States has a card and number, it became convenient to use it anyway and the message “not for identification” was removed.
After violating the original contract (FICA) the Democrats turn around and tell you that the Republicans want to take your Social Security away. The worst part about it is the uninformed citizens believe it.
The writer lives in Conway.
This story was originally published November 23, 2015 at 7:58 AM with the headline "Democrats repeatedly broke Social Security promises."