Posted on 07/31/2003 6:58:04 AM PDT by SheLion
Subject: Who taxed Social Security?
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 party took Social Security from an independent fund and put it in the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democratic-controlled House and Senate.
Q: Which party put a tax on Social Security?
A: The Democratic party.
Q: Which party increased the tax on Social Security?
A: The Democratic Party with Al Gore casting the deciding vote.
Q: Which party decided to give money to immigrants?
A: That's right, immigrants moved into this country and at 65 got SSI Social Security. The Democratic Party gave that to them although they never paid a dime into it.
Then, after doing all this, the Democrats turn around and tell you the Republicans want to take your Social Security. And the worst part about it is, people believe it!
That's pretty much the definition of a Ponzi scheme. About the only difference is that the Government doesn't even pretend to invest in anything. They just count on being able to take enough taxes from this generation of workers to pay the last. From http://www.smithsonianmag.si.edu/smithsonian/issues98/dec98/ponzi.html:
[Charles] Ponzi claimed to have found a way to profit by speculating in international postal reply coupons — a form of prepaid return postage for use in foreign correspondence. After he had paid off his first round of investors, Darby relates, he scarcely had to repeat his story. All that anyone cared about was that he paid 50 percent interest in 90 days. Later, he shortened the investment period to 45 days.
In no time, the money was rolling in. "At the height of his success, Ponzi had offices from Maine to New Jersey." The problem, Darby explains, was that there was no actual investment going on; the only activity was the shuffling of money from new investors to old ones. This kind of swindle, borrowing from Peter to pay Paul, is also known as a pyramid scheme or — since 1920 — a Ponzi scheme.
"Half-a-dozen banks crashed in the aftermath of Ponzi's fall," reports Darby, who is currently working on a screenplay about the charming con artist. "His note holders received less than 30 cents on the dollar." But, she asks, was Ponzi's proposition, which snared nearly 40,000 would-be millionaires, "any more absurd than the promise of a $59,000 loan in exchange for $20 sent to a post office in Las Vegas?" Pitches like this one, says Darby, are now popping up on the Internet, and as long as people are more worried about their profits than their principal, Ponzi schemes will continue to part fools and their money.
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 party took Social Security from an independent fund and put it in the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democratic-controlled House and Senate.
Q: Which party put a tax on Social Security?
A: The Democratic party.
Q: Which party increased the tax on Social Security?
A: The Democratic Party with Al Gore casting the deciding vote.
Q: Which party decided to give money to immigrants?
A: That's right, immigrants moved into this country and at 65 got SSI Social Security. The Democratic Party gave that to them although they never paid a dime into it.
Then, after doing all this, the Democrats turn around and tell you the Republicans want to take your Social Security. And the worst part about it is, people believe it!
===
Ain't nothin' democratic about the Democrat party -- the "Party of Treason".
He knew that all could not be gotten in one swoop, ergo incrementalism.
Then why do we pay INTO it all those years we have been working??!!
Uh huh, just like "globalization".
The freakin' DemonRats thought they'd never have to pay.
How'd it work out?
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