President Roosevelt's 'New Deal' & Social Security
By Gordon Bishop (08/27/07)
President Franklin D. Roosevelt, a wealthy tycoon, took America's taxpayers and voters down the road to liberal socialism and Big Government during the 1930s Great Depression with his "New Deal," or what many today would say "Raw Deal."
Here’s the dark and best kept secrets about our Social Security system concocted by Roosevelt’s leftist administration:
Many years ago in Seattle, two wonderful neighbors, Elliott and Patty Roosevelt, came to a home in that popular city in the State of Washington to swim on a regular basis. There were a great couple full of laughter and stories that today continue to marvel the local folks.
Both Roosevelts are deceased, but their stories remain.
During the years of their friendship with their Seattle neighbors, there were many discussions about Elliott’s parents, President Roosevelt and his wife, Eleanor Roosevelt, about how the Social Security happened. The President and his politically active spouse never intended for the Social Security and Welfare programs to turn out the way they are today.
Elliot used to say that if his parents returned to earth today and saw what the politicians had done to their programs, they would have burned all of them in hell.
Here’s the story regarding the Social Security Program as Elliot related to his family and friends.
President Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1) That participation in the program would be completely voluntary.
2) That the participants would only have to pay 1 percent of the first $1,400 of their annual incomes into the Program. (During the Depression years most wage earners made around $10 to $20 a week.)
3) That the money the participants elected to put into the program would be deductible from their income for tax purposes each year.
4) That the money would be put into the independent “Trust Fund” rather than the General Operating Fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other government program.
5) That the annuity payments to the retirees would never be taxed as income.
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 85 percent of the money we paid to the Federal Government to “put away” – you may be interested in the following:
Which political party took Social Security from the independent “Trust Fund” and put it into the General Fund so that Congress could spend it? It was Democrat President Lyndon and the Democrat controlled Congress House and Senate.
The Democrat party also eliminated the income tax deduction for Social Security (FICA) withholding.
The Democrat party also started taxing Social Security annuities, with Vice President Al Gore casting the “tie-breaking” deciding vote.
The Democrat party led by President Jimmy Carter also decided to start giving annuity payments to immigrants. Immigrants moved into America and, at age 65, began to receive Social Security payments.
Now the Democrat politicians running for public office are lying to Americans by saying the “Republicans want to take away your Social Security!”
For the record, the New Deal “entitlements” were all in violation of our nation’s Constitution.
Finally, after all of the Democrat maneuvering over the past 70 years, the Social Security Trust Fund is broke. There is no money in the Trust Fund. Instead, there is an IOU from the federal government in the amount of $1.7 trillion.
That’s right, the U.S. Government owes the Social Security Trust Fund $1.8 trillion, and the debt is soaring at the rate of billions of dollars a month.
So much for a Democrat federal government totally out of control.
God Bless America!
Gordon Bishop
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