Quote:
Originally Posted by piece-itpete
Once a racist, always a racist, right? No hiding him now Tom 
According to my dad it was sold as a forced savings account basically and a bare safety net. In 1935 life expectancy was 60 male and female 64.
SS reform was passed under the evil Reagan. I remember it well - it tripled my fica withholding.
It was supposed to cover the boomers retiring. Instead the politicians spent it (big surprise there?).
So now we'll have to figure out how to pay for increased structural spending of that now-gone surplus, plus pay for the SS itself again. All while having the same increased fica.
I don't blame the Dems Tom, it belongs right on the backs of the whole rotten lot of them.
Pete |
As usual Pete, your entire post is full of shit.
I'll start with your assertion that your FICA with holding tripled with the Social Security reform of 1983.
In 1982 the total FICA with holding was 6.7%
http://www.tax-atlas.com/historical-fica-tax-rates/
By 1990 it has risen to the current level of 7.65%.
Wanna try to show me how you got tripled out of that?
I don't think so.
That's all I have time for now.
I reserve the right to take apart the rest of your full of shit post at a time of my own choosing.