This has been a discussion for many years as to why it was created and whom it was created for. In the 1940's Roosevelt started us down the path to Socialism and Government Intervention into personal lives by passing the Social Security Act.
Many Americans today, treat Social Security as a retirement fund and I believe it was intended to supplement a retirement fund and to assist. Could we call it a government hand out when first instituted. I will allow you to decide that question after you have read the article.
I think the Government and its welfare system did more to hurt America than it did to assist us. It took the church out of the business of taking care of the poor along with the rest of America. Many people did not take hand outs from the government because they considered it charity, plus the understanding back in the 1940's listening to my Dad, Mom and others, it was a way for the Government to get involved in your business and this was highly resented by most. People felt like once the Government got their foot in the door than they would take over the control of your life. Proud people took care of their families and their neighbors when help was needed and the church also did its part to assist those in need. Today it is probably considered a job instead of being done out of concern for the fellow citizen and because we loved our fellow neighbors.
Social Security has been used, misused, abused and at times it has been robbed by the same Government that created it to assist folks. Social Security has changed from the way it was being used. I do not or can not show any details about when Social Security Taxes began to be deducted from the workers payroll checks or when it first started. Some people today believes it is one big slush fund, that can be used for about anything deemed necessary by Politicians.
I remember an elderly man that worked for many years on a farm plowing with a tractor and doing other duties. One day he decide to retire back in the 1970's and wanted to sign up for Social Security but he had never paid any money into the system nor had the farmer he worked for. The rule at this time was that you needed 40 quarters of work to be eligible and the farmer went into the Social Security and paid them $ 500.00 dollars to buy the 40 quarters, now he was fully eligible to draw Social Security for the remainder of his life and it cost his employer $500.00 bucks and the retiree, it cost him nothing, not one red penny.
Immigrants from Europe began flooding America and moving to Florida for retirement in a nice warm climate at the expense of the American taxpayer, it just cost them $500.00 dollars to buy a retirement plan paid for by us, The People. This is about the time that action had to be taken to stop the onslaught of robbing our Treasury and carting off with our Social Security Funds.
The assumption is or the law is that we pay Social Security Taxes to the Government and these taxes becomes the property of the US Government and is placed into a large pot and is available for hands to be inserted in the pot by Politicians and take out what they need. Maybe they need some money for a project in their home state to build an airport, a highway, a bridge, a civic center or many other things. I have heard people say, you are stealing from the elderly and their retirement funds. NO, I am not stealing, I just wrote an I.O.U. and threw it in the pot. If this is a huge pot of money that belongs to the US Government than we need to look at some other principles, standards and laws to see whom owns the money and how it is to be maintained.
There is many laws on the books about The Social Security Trust Fund and the book or books has very many pages. People are not very likely to sit down and read 2-3 thousand pages on Social Security, so they say to HECK with it. Too hard to understand anyway. The ones that wrote the laws may not even know all of them.
QUESTION: If in fact the Social Security Fund is a huge pot of money that belongs to the government. Why does the Government require us to have a Social Security Number, is it to establish an account in the name of the person that owns that number, or is it to detect when people do not pay the tax. Remember a report from the employer is being sent to Uncle Sam also.
The answer to the above question is the Social Security Number is used to establish an account in the name of the person that is paying into the fund. The government can not claim this to be income taxes because it is an entirely different tax and fund as we will learn in a paragraph or two.
Annually the Social Security board sends me a statement showing myself, under my name and Social Security Number the amount of money I have paid in the current year and my life time as a taxed worker. If these are not individual retirement accounts than just send me a statement telling me how much is in the pot and say we all share this.----WHY NOT---Because it is not true. Read on.
Social Security receives taxes into all of the accounts being paid by the workers and during the years, many of them will pass away and leave money still left in their account, now we have a surplus, we have more money than we need to pay these 100,000 retiree's and we still have billions of dollars in surplus. What do I do with all of this surplus money.
Social Security Board is required by law to exchange with the US Treasury all surplus funds it has on hand in return for the Treasury Department to issue them a bond, a certificate, a voucher or a document showing the amount of surplus money that was returned to the US Treasury for***NOTE*** (safe keeping) and the Treasury Department is required by law to pay interest on this surplus money to the Social Security Board.
Social Security gets into a crunch and has a shortage of money to pay benefits to those 100,000 retiree's. They say---Well we still have all of the surplus money we gave back to the US Treasury and we have notes or bonds, we can cash in to redeem those funds to make up for our shortfall.
BOOM""BOOM"""The Treasury Department tells the Social Security Board--We do not have your money, we spent it or used it for other things.
OBAMA has drawn 2.7 Trillion dollars from our Social Security Trust Fund. NOW""The Social Security Retirement Fund has become a part of the National Budget and it is a part of the National Deficit.
FEDERAL LAW PROHIBITS---Any Government Agency, the Executive Branch, Congress or the US Treasury to attach these retirement funds to any part or portion of the National Budget or Debt.---Retirement Funds is not to be withdrawn or borrowed by any branch of the Government.----These surplus funds by law are to be held by the US Treasury Department until needed by the owner and interest will be paid once withdrawn.
WHO ARE THE CROOKS-------You answer this question-----Is it a POT of money or an Individual Retirement Account.----NOTE*** The Social Security Board allows workers to pay excess taxes to increase their retirement account funds, plus you can do some work after you retire to increase your Social Security Checks.
NOW-----POT OF MONEY OR A RETIREMENT ACCOUNT-----Myself I have between $400,000 to half a million in funds that I paid in for over 50 years of working.---Are you going to tell me the pot is empty---Some Politicians had better be depositing my money back into my account for myself and my wife, plus they need to be fired afterwards.
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