History of Social Security

Social Security cards used to say “not to be used for identification.” Mine does.

When introduced by President Roosevelt, the program was said to be voluntary.

Participants paid only 1% of the first $1400 of their annual income.

Payments to social security were tax deductible.

The social security trust fund was said to be used only for social security payments.

Payments made from social security to retirees would not be taxable.

Social Security is now a 7.65% mandatory tax on the first $90,000 of income, which means it’s a tax on 100% of most people’s income. It’s no longer tax… Continue reading →