Is Social Security really a lie, is it really the greatest ponzi scheme ever? Perhaps it could be true, if you look at some of the history of its origins, you have to ask the question is it really what we think it is at all?
The biggest Social Security Lies?
1. That contributions to Social Security were voluntary.
The truth is According to the Social Security Administration (SSA), the Social Security (FICA) contribution is a payroll tax and, like all taxes, has never been voluntary.
2. That it would cost only one percent of the first $1,400 of annual income.
The truth
SSA says the original tax rate was 1% on the employer and the employee on the first $3,000 of annual wages.
3. That the contributions into Social Security would be tax deductible.
The truth
The 1935 law prevented Social Security contributions from being tax deductible and they never have been.
4. That the money would go into a trust fund dedicated to Social Security and not be used to pay other federal bills.
The biggest lie of all, is the truth According to the SSA, the way that Social Security is financed has not changed since it was enacted in 1939. Social Security payroll taxes are deposited into The Social Security Trust Fund. The SSA says that those funds have never been taken out and put into a “general fund.” There was an accounting change in 1968, however, that listed the Trust Fund under something called the “unified budget” along with all other federal programs. In 1990, there was another accounting change that took the Trust Fund out from under that umbrella, but according to the SSA, it was merely a matter of accounting practices, not the function of the fund itself.
5. That annuity payments to retirees would not be taxed.
The truth
There was no guarantee that Social Security payments would never be taxed.
Originally, they were not taxed, but in 1983, Congress passed a law that did include Social Security payments as taxable income.
Want to consider the truth, you might be really surprised at what the truth really is.
Amazing things are happening, no matter what the biased media tells you, about what happened at the debate, the truth is clear, insanity is truly doing the same thing over and over again and expecting a different result.