Social Security Tidbits

Introduction:All the talk about Social Security one needs a reminder to actually learn about it; what the mainstream media is not divulging. Some people reading this are too young to even know when drastic changes took place that may rob them of the benefits of social security payment in their lifetime. Even though you have paid into the Social Security program all your working years,you will not be guaranteed one red cent when you are of age to collect. This info is not slated toward a specific political party and not directed at only one person who created the Social Security dilemma we Americans now have with our broken Social Security package. Research these Social Security tidbits for yourself so you have a second opinion; yours.

  • 01

    Inception

    The second "New Deal" by the former president of the United States of America Franklin Delano Roosevelt initiated the Social Security Act during his office as Commander and Chief. At the time this was the most important program at its inception in 1935. Franklin D. Roosevelt implemented this program as part of the attempt to recover the failing economy during 1934 and 1936. Franklin D. Roosevelt accepted the Democratic nomination for president of the United States in 1932. He took political office March 1933. Since Franklin D. Roosevelt did not have mapped out plans to deal with the financial ills of the country when he entered office, he did some trouble shooting with some plans still active today; one being Social Security.

  • 02

    Payment

    Since the inception in 1935, the Social Security Act required seven years contributions. Because the proceeds were paid into the Treasury like internal revenue taxes,the Congress general taxation power paid out the first Social Security check in 1937 when the payroll taxes were initially collected. Roosevelt did not want his Social Security program to be scrapped, so insisted that program be funded by payroll taxes and not the general fund. The CONTRIBUTIONS were made by employees and employers to fund and establish the present day program. Part of a quote by FDR is: "We put those payroll contributions there so as to give the contributors a legal, moral and political right to collect their pension and unemployment benefits". Morgenthau worked on excluding farm workers and domestic servants from Social Security stating outside industry would not be paying their share. Other exemptions are listed at: http://www.nationalcenter.org Social Security is financed by a tax on payroll with half paid by employer and half paid by employee.

  • 03

    Who Is Covered?

    The Social Security Program was initially geared toward relief for specific people. Plans for financial assistance to the handicapped, poor families and the elderly were the targets for the Social Security Act. Blacks were denied payment from Social Security, while Eleanor Roosevelt and others managed to give them 10% of welfare payments. Over the years of congress voting, many other people in need were covered under the Social Security Act. Resource: http://www/ssa.gov Social Security Act of 1965 was signed into law by former president Lyndon Baines Johnson as an amendment to the existing Social Security legislation including medicare. The Social Security Administration is responsible to determine eligibility. Many changes have occurred including age eligibility and need.

  • 04

    Questions and Answers

    The Social Security Administration, Office of Retirement and Disability Policy, Office of Policynet and program support, Division of Policynet management and, Technical Documents Branch can be contacted. Address: 6401 Security Boulevard Baltimore, Maryland 21235-6401 Cornell University Law School has Chapter #7 Social Security Subchapters one to twenty one for reading on the legal Information U.S. code on their website: http://www.law.cornell.edu Information on Social Security can be obtained from : http://www.gao.gov This is a Government Accountability Office website with information and documents. http://www.beforeitsnews.com and http://www.plamero.com are alternatives to mainstream media information sites to view. Research your resources to gather the correct answers to your questions.

  • 05

    Politics

    If you have wondered what politics did to Social Security, these facts can be researched by you anytime. Social Security at first was a deduction of 1%, then it was increased to 2% and it is a whopping 7.5% on the first $90,000. Under democratic leadership former president Lyndon Johnson signed into law that the money be transferred from the original "Trust Fund" into a general operating fund. It was used by that fund instead of keeping it for The Social Security Retirement Program. Congress was then permitted to spend it. Social Security was once tax deductible, it is no longer permissible due to a Democratic Party decision. In addition,the democratic party started taxing Social Security annuities with Al Gore's tie braking decision when he was President of the Senate while he was Vice President of the United States. Former President Jimmy Carter and the Democratic party permitted immigrants moved into the United States of America to begin to receive Social Security payments at age 65. This money was given even though they paid nothing into the Social Security Program. The Social Security card was once stated right on the card that it was not for identification. It is widely used for that purpose now and as of 1980 the mention "to not use it" for that purpose was removed from the face of the card. More politics is that Congress voted to give themselves 100% retirement even if they only serve one term.





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