When did the U. S. government begin to use the Social Security funds for something else?

Franklin Roosevelt 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 t he

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.

Since many of us have paid into FICA for years and are

now receiving a Social Security check every month --

and then finding that we are getting taxed on 85% of

the money we paid to the Federal government to "put

away" -- you may be interested in the following:

Q: Which Politic al 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.

Q: Which Political Party eliminated the income tax

deduction for Social Security (FICA) withholding?

A: The Democratic Party.

Q: Which Political Party started taxing Social

Security annuities?

A: The Democratic Party, with Al Gore casting the

"tie-breaking" deciding vote as Preside not of the

Senate, while he was Vice President of the US.

Q: Which Political Party decided to start giving

annuity payments to immigrants?

A: Jimmy Carter and the Democratic Party.

Immigrants moved into this country, and at age 65,

began to receive Social Security payments! The

Democratic Party gave these payments to them,

even though they never paid a dime into it!

Then, after doing all this lying and thieving and

violating of the original contract (FICA), the Democrats

turn around and tell you that the Republicans

want to take your Social Security away!

You will not find what your looking, because there is no bill, per say.

In 1967, SS revenue, first became higher than the amount paid out to SS beneficiaries.

They had to do something with the excess SS revenue.

So they invested it, in US treasury bonds.

That system, is still in place today.

All excess SS revenue, is invested in US Treasury bonds.

That makes up about 41% of the US national debt.

As the way things stand now, around 2017, SS revenue, will be less than what is paid out to SS beneficiaries.

Then the SS system, will have to start cashing in US treasury bonds, to keep paying the same level of benefits.

This can go on, untill approx 2050, when all the US Treasury bonds SS has, will have been cashed in.

At that point, benefits would have to be reduced, or the retirement age increased or the SS payroll tax increased or the maximium income that pays SS tax's increased.

Of course, the earlier the US, impliments any or all of the above three options, the longer it would push the 2050 date into the future.

This was done during the early 1980's, which pushed the date the SS system would have to start cashing in the US treasury bonds, back from 1992 to 2017.

But there has never been a lock box, so to say, of excess SS revenue.

The only place it could be invested, is in US Treasury bonds.

Exactly where it was invested.

a long time ago.

it's EMPTY!!! THERE ARE NO FUNDS IN THE KITTY!!!

ALL ENtitlement programs are empty and every dime that comes in every day goes to pay what is already owed. nothing is being saved.

which is why SS needs to be overhauled. the account is empty full of paper IOUs. perfect example of why SS should be privatized and the retiree decide where the money is best saved or stored. without the guv having their hand in it to spend as they please.

from another poster: There is no Social Security Trust Fund! Lyndon B. Johnson made the Social Security funds part the general fund during his short lived term. So you have a democrat to thank for that. Your money that you contributed was spent way back in the 1970's on some dumbass study or program.

to date 54 trillion dollars has been take from social security to pay for things like highways, vietnam, nasa, gulf war, and many other pet projects. Truman used the money and everyone since then republican and democrat. has used the money like stealling from mama's purse. the iou;s have been lost somewhere. They will never admit to it and use a lot of double talk mostly blaming us for having the nerve to use the program we paid into for most of our lives, and its not an entitlement if you paid for it. they spent it and now its gone.

Lyndon Johnsoon, that wonderful LIBTURD president, stole SOCIAL SECURITY.....he was responsible for transfering the SS money into the GENERAL FUND.

some time around 1965

during the viet nam war.