Wednesday, May 13, 2009

COTD: Promises

clipped from hotair.com

Franklin 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% of the first $1,400 of their annual incomes into the Program,

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 the participants put into the Independent “Trust Fund” rather than into the General Operating Fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,

5.) That the annuity payments to the retirees would never be taxed as income.

Q: Which Political Party 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.