Democrats constantly attack Republicans for trying to fix Social Security while ignoring their own history.
Social Security initial plan
· Introduced as a voluntary program – not any more
· 1% payroll tax on your first $1400 of annual income – now 7.65 % on $90,000
· All money in secure trust fund – now all income into general fundWhich party made the following changes to your Social Security
· Took Social Security from the independent 'Trust Fund' and put it into the general fund so that Congress could spend it?
o Democrat President Lyndon Johnson
· Eliminated the income tax deduction for Social Security (FICA) withholding?
o Democrat Party
· Decided to start giving annuity payments to immigrants even if they did not contribute?
o Democrat President Jimmy Carter
· Started taxing Social Security annuities?
o Democrat President Bill Clinton - VP Al Gore casting tie vote in Senate
Bottom line: Social Security is paying out more annually than the government is taking in. The so called trust fund is just IOUs from the government. Social Security scheduled to be insolvent in 2030. Democrat plan is to demonize Republicans.
Only the Republican Party has put forth a plan to make Social Security solvent.
10 weeks until the Aug 7, 2012 Primary Election
22 weeks until the Nov 6, 2012 General Election