Social Security

[101]

Social Security - An EXCELLENT SUMMARY!





Social Security


Your Social Security


Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!



Our Social Security

Franklin Roosevelt, a Democrat, introduced the Social
Security (FICA) Program. He promised:

1.) That participation in the Program would be
Completely voluntary,


No longer Voluntary



2.) That the participants would only have to pay
1% of the first $1,400 of their annual
Incomes into the Program,


Now 7.65%
on the first $90,000


3.) That the money the participants elected to put
into the Program would be deductible from
their income for tax purposes each year,


No longer tax deductible



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,


Under Johnson the money was moved to
The General Fund and Spent



5.) That the annuity payments to the retirees
would never be taxed as income.


Under Clinton & Gore


Up to 85% of your Social Security can be Taxed



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 US

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

Q: Which Political Party decided to start
giving
annuity payments to immigrants?

AND MY FAVORITE:

A: That's right!


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!

Are you one of them?


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!!!



A government big enough to give you everything you want, is strong enough to take everything you have.
-Thomas Jefferson


101

 

[Anonymous]

101: The last attempt to modify Social Security was in 1983 and you can look in the History book to see who was President. Some of the highlights were taxing up to 50% of Social Security benefit for income taxes with certain limits the reasoning behind this was that the taxes paid by your employer were not taxed and you are receiving benefits from his contribution. Also increased the amount of Social Security that is withheld from payroll income. Increased the age to 67 to draw full benefits. Also give tax breaks if you work to 70 years. Here is a break down of the 1983 bill:http://www.ssa.gov/history/1983amend2.html.
This is from the SSA website, you might go there an review Social Security and what the benefit for you and your family could be in the future.

 

[Anonymous]

101 please read. This is the answer to the highlighted part of your post about Congressional Pensions.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT
FOR ONLY SERVING ONE TERM!!!




laries and Benefits of US Congress Members

By Robert Longley, About.com Guide
See More About:

* us congress
* senate
* house of representatives
* federal employees
* legislative branch

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U.S. Congress salaries and benefits have been the source of taxpayer unhappiness and myths over the years. Here are some facts for your consideration.

Rank-and-File Members:
The current salary (2009) for rank-and-file members of the House and Senate is $174,000 per year.

* Members are free to turn down pay increase and some choose to do so.
* In a complex system of calculations, administered by the U.S. Office of Personnel Management, congressional pay rates also affect the salaries for federal judges and other senior government executives.
* During the Constitutional Convention, Benjamin Franklin considered proposing that elected government officials not be paid for their service. Other Founding Fathers, however, decided otherwise.
* From 1789 to 1855, members of Congress received only a per diem (daily payment) of $6.00 while in session, except for a period from December 1815 to March 1817, when they received $1,500 a year. Members began receiving an annual salary in 1855, when they were paid $3,000 per year.

Congress: Leadership Members' Salary (2009)
Leaders of the House and Senate are paid a higher salary than rank-and-file members.

Senate Leadership
Majority Party Leader - $193,400
Minority Party Leader - $193,400

House Leadership
Speaker of the House - $223,500
Majority Leader - $193,400
Minority Leader - $193,400

A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it.

Benefits Paid to Members of Congress

You may have read that Members of Congress do not pay into Social Security. Well, that's a myth.

Prior to 1984, neither Members of Congress nor any other federal civil service employee paid Social Security taxes. Of course, the were also not eligible to receive Social Security benefits. Members of Congress and other federal employees were instead covered by a separate pension plan called the Civil Service Retirement System (CSRS). The 1983 amendments to the Social Security Act required federal employees first hired after 1983 to participate in Social Security. These amendments also required all Members of Congress to participate in Social Security as of January 1, 1984, regardless of when they first entered Congress. Because the CSRS was not designed to coordinate with Social Security, Congress directed the development of a new retirement plan for federal workers. The result was the Federal Employees' Retirement System Act of 1986.

Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation.

Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS.

As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes.

Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Members of Congress have to serve at least 5 years to even receive a pension.

The amount of a congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.

According to the Congressional Research Service, 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service as of Oct. 1, 2006. Of this number, 290 had retired under CSRS and were receiving an average annual pension of $60,972. A total of 123 Members had retired with service under both CSRS and FERS or with service under FERS only. Their average annual pension was $35,952 in 2006.