Food for Thought

A Bit of Social Security History...

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:

1. That participation in the Program would be completely voluntary. It is no longer voluntary.

2. That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the program. It's now 7.65% on the first $90,000.

3. That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year. It's no longer tax deductible.

4. That the money would be 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. Under Johnson the money was moved to the General Fund and spent.

5. That the annuity payments to the retirees would never be taxed as income. Under Clinton & Gore up to 85% of your Social Security can be taxed.

Many of us have paid into FICA for years and are, or will be, getting taxed on 85% of the money we paid to the Federal government to "put away" for us. Since their idea of saving money clearly isn't working, perhaps you might want to consider an alternative method of wealth building. Hmmm, may I suggest investing in real estate?...I KNOW A GOOD REALTOR.