Social Security was introduced by Franklin Roosevelt. His plan was:

  • That participation in the Program would be voluntary,
  • That participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
  • That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
  • That the money would go into an independent 'Trust Fund' separate from general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program,
  • That the annuity payments to the retirees would not be taxed as income.
  • What Happened?

    1 - No longer voluntary
    2 - Way more than 1% now
    3 - May no longer "elect" how much to put into the program
    4 - No longer deductible from income tax
    5 - The Trust Fund only exists now as a matter of record, the money has been spent in the general operating fund
    6 - Annuity payments are now taxable.

    The Social Security Administration provides this information about the Social Security Trust Fund.

    Some say Social Security is a Ponzi Scheme. Maybe this will help explain why.

    Since many of us have paid into FICA for years and are now receiving a Social Security check every month, and are now being taxed on it; you may be interested in the following:

  • Q: Who 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: Who eliminated the income tax deduction for Social Security (FICA) withholding?
    A: The Democratic Party.

  • Q: Who 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: Who decided to start giving annuity payments to immigrants?
    A: 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! And they get other Social Security benefits as well.

  • OK, so do you want to protect the Social Security Program? Here is a way.

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

    Social Security is a huge Ponzi Scheme. There is much more about the Social Security program on the National Debt Awareness Campaign web site.