Monday, June 30, 2008

Social Security, Obama and McCain

See the promises made and broken in the introduction and history of FICA (Social Security, Medicare, Medicaid), below.

For you young people: Social Security payments today, are 12.4% of the first $90,000 an individual earns. 6.2% is deducted from the employee paycheck by the government. And, 6.2% is paid by the employer. However, that 6.2% is part of the employer’s cost of an employee. So, that is really their cost that cannot be paid to the employee. Thus, the 12.4% cost is ALL born by the employee. The employee “cost” is just more hidden taxation to deceive the average American, just like business taxes that are part of the cost of producing a product or service, which go onto the spreadsheet when calculating the profit that will justify the investment, in order to set the price. The self-employed or contract worker pays the full 12.4% straight out. Again, it is the consumer or end-user that bears the cost of the tax.

Barack Obama proposes to lift the $90,000 cap on FICA tax eligible earnings. Thus if we acknowledge that the worker bears the entire cost, someone who earns $150,000, will see a 12.4% FICA tax increase on the $60,000, or $7440 in additional taxes under Obama’s proposal. And, even adding this 12.4% to what EVERYONE in America earns over $90,000, the most optimistic liberals say that this additional revenue would almost cover (for a short period of time) the FICA shortfall that is now perched on America’s front porch. Other tax increases, benefit restrictions, and monetary inflation would still be needed to confront the established liabilities.

That is why it is so important that John McCain, who will work stronger than most to contain spending (certainly a great deal more than Bush has) is elected, and Barack Obama , who has promised many billions of dollars in new spending, is not. This urgent need for fiscal sobriety is why a strict conservative like OK Senator Tom Coburn is strongly supporting McCain, even though he has often disagreed with McCain, as many of us have: he knows that McCain is uncommonly strong against profligate spending. An Obama presidency with a Democrat-controlled Congress could make the economic woes of the Jimmy Carter years look like a picnic.

-------------------

Franklin Delano. Roosevelt
32nd. President, Democrat
Terms of Office March 4, 1933, to April 12, 1945
Franklin Delano. Roosevelt
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 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 taxe d< span class="Apple-converted-space"> on 85% of the money we paid to the Federal government to < SPAN style="FONT-SIZE: 10pt; COLOR: red">'Put Away' -- you may be interested in the following:


Lyndon Baines Johnson 36th.President, Democrat
Term Of Office: November 22, 1963 to January 20, 1969
Question: Which Political Party took Social Security from the Independent 'Trust Fund' and put it into the General Fund so thatCongress could spend it?
Answer: It was Lyndon B. Johnson
and the democratically Controlled House and Senate.


Question: Which Political Party eliminated the income tax Deduction for Social Security (FICA) withholding?

Answer: The Democratic Party.


William Jefferson Clinton
(Bill Clinton)
42nd. President

Democrat
Term of Office: January 20, 1993to January 20, 2001
Albert Arnold Gore, Jr.
(Al Gore)
45th. Vice President

Democrat

Term of Office: January 20, 1993to January 20, 2001
Question: Which Political Party started taxing Social Security annuities?
Answer: The Democratic Party, with Albert Arnold Gore, Jr. (Al Gore) [Vice President
Term of Office: January 20, 1993 to January 20, 2001] casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US .


James Earl Carter, Jr
(Jimmy Carter)
39th. President, Democrat
Term of Office: January 20, 1977 to January 20, 1981 Question:
Which Political Party decided to start giving Annuity payments toimmigrants?
AND MY FAVORITE:
Answer: That's right!
James Earl Carter, Jr. (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!
If enough people receive this, maybe a seed of Awareness will be planted and maybe changes will Evolve. Maybe not, some Democrats are awfully Sure of what isn't so.
But it's worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!


Thomas Jefferson
3rd. President, Democrat
Term of Office: March 4, 1801 to March 4, 1809
'A government big enough to give you everything you want, is strong enough to take everything you have.'
- Thomas Jefferson

17 comments:

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And which candidate for President is taking Social Security payments RIGHT NOW eventhough his family is making over $6Mill./yr. nnd has a net worth of over $100Mill.???

That's right, our good buddy, Republican John McCain! How many families who make hundreds of thousands (or in this case millions of dollars) take money from a system that they know is going bankrupt? Sure, maybe he paid money into it but what kind of example is that for a Presidential candidate who is so wealthy to be depleting an ailing system.

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