This morning I read this diary from Moe.
And that got me to thinking. I had some good information my 72 year old father sent me.
So I thought it was good timing to relate this information. I also dug around and found a few relevant links to our dear leader.
Candidate Obama on Social Security Reform
President Obama is eager to seek a bipartisan solution to ensure the long-term solvency of Social Security, people who have spoken with him say, but he is running into opposition from his party’s left and from Democratic Congressional leaders who contend that his political capital would be better spent on health care and other priorities.
Despite the long-running partisan divide over benefits and taxes, the advocates for a compromise see an opportunity now given the fact that the stock markets’ slide has discredited the idea of carving private accounts from Social Security. Former President George W. Bush demanded such accounts as the centerpiece of any compromise, while Democrats and some Republicans were just as adamantly opposed, dooming his effort in 2005.
“The carve-out account is off the table,” said Senator Lindsey Graham, a South Carolina Republican who has long sought a deal.
This month, Mr. Obama unexpectedly approached Mr. Graham when he was at the White House to meet with Rahm Emanuel, Mr. Obama’s chief of staff. Mr. Graham, who was a vocal foe of Mr. Obama’s $787 billion stimulus plan, said in an interview: “I know he’s sincere about wanting to do something about entitlements generally, health care and Social Security. And I want to help him.”
Those who oppose action said Mr. Obama must focus on his bigger priority — health care legislation to expand access to insurance and reduce the costs of care. They argue that success there would help control the unsustainable growth of Medicare and Medicaid, the government’s other major benefit programs, which together pose a far greater fiscal problem.
Social Security still runs a surplus, and its reserves will not be exhausted until 2041, after which enough payroll taxes will come in to cover 78 percent of benefits, according to the 2008 annual report of the program trustees. Medicare, by contrast, requires big infusions from general revenues each year; its hospital trust fund is already running annual deficits and will be exhausted by 2019.
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program.
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 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 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 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 U.S.
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 SSI Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
Then, after doing all this lying and thieving and violation of 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!
Perhaps we are asking the wrong questions during this Obamasham administration?