Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: daniel1212
The original Social Security started out with fairly good intentions. It was to provide a stipend for people in their old age who have worked all their lives, paying into the system with a simple FICA tax. Even back then, it was not intended that anybody could survive economically on Social Security alone. It was still expected that the elderly would have additional income/wealth to make ends meet or be taken in by younger family members. The Social Security was meant to keep them out of breadlines and allow them to get some groceries or whatnot.

I know this is hard to believe but back in 1935, employees FICA tax was just one percent of their income (with their employers paying another one percent) up to a maximum of $3,000 a year.

The above is a classic example of the government getting their foot in the door with a tax that just keeps increasing as time goes on. Nowadays, the FICA burden is 15.3% of income (with employers still paying half) up to an income of $168,600 in 2024.

Now Social Security is extended to younger people with "disabilities". I personally know somebody who went on SSI in his mid 30s because he had bad knees and could not do his job anymore (tiling). He was offered an office job by his employer but declined and went on lifetime SSI instead.

This is not how the system was supposed to work. It has bloated into another welfare system as the original plan of paying into the system over a long career so that you do not go hungry in old age has gone by the wayside.

14 posted on 05/29/2024 6:01:36 AM PDT by SamAdams76 (6,575,474 Truth | 87,429,044 Twitter)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: SamAdams76
The above is a classic example of the government getting their foot in the door with a tax that just keeps increasing as time goes on. Nowadays, the FICA burden is 15.3% of income (with employers still paying half) up to an income of $168,600 in 2024. Now Social Security is extended to younger people with "disabilities". I personally know somebody who went on SSI in his mid 30s because he had bad knees and could not do his job anymore (tiling). He was offered an office job by his employer but declined and went on lifetime SSI instead

Social Security has expanded, while contraception and welfare is much to blame for deficients. And I am quite sure I know someone else who scammed her way into SSDI. However, the gov. states:

SSI is financed by general funds of the U.S. Treasury — personal income taxes, corporate taxes, and other taxes. Social Security taxes collected under the Federal Insurance Contributions Act (FICA) or the Self-Employment Contributions Act (SECA) do not fund the SSI program.

16 posted on 05/29/2024 6:46:02 AM PDT by daniel1212 (Turn 2 the Lord Jesus who saves damned+destitute sinners on His acct, believe, b baptized+follow HIM)
[ Post Reply | Private Reply | To 14 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson