What president started taxing social security?

Answer 1

the tax on Social Security was instituted in 1983, long before the Tax Reform Act was even considered. Claiming that Reagan imposed the tax on Social Security benefits ignores that it was a widespread bipartisan effort, passed easily and quickly with overwhelming support by a Democratic House and Republican Senate. Why did it have such bipartisan support? By the 1980s, Social Security was in big trouble. Starting in 1975, SS expenditures exceeded revenues and its reserves were close to being exhausted. It was anticipated that, without legislative action, it would not have been possible to continue paying benefits on time beginning in July 1983.

Answer 2

President Franklin D. Roosevelt signed the Social Security Act into law in 1935, establishing the Social Security program. Social Security taxes were first collected in 1937 to fund the program, with both employees and employers contributing to the system. This tax was implemented under Roosevelt's administration to provide a safety net for retired and disabled individuals.

Answer 3

Well, honey, it was good ol' Ronald Reagan who signed the legislation in 1983 that started taxing Social Security benefits. So, if you're cursing those deductions on your monthly check, you can thank him for that little gift. Just remember, nothing in life is certain except death, taxes, and politicians messing with your money.

Answer 4

Well, isn't that an interesting question? President Ronald Reagan signed the Social Security Amendments of 1983 into law, which included taxing Social Security benefits for certain individuals. It's important to remember that changes in policy are part of our ever-evolving system, and we can find beauty in understanding the reasons behind them.

Answer 5

Oh, dude, that would be President Ronald Reagan in 1983. He was like, "Hey, let's tax some of that sweet social security money," and people were probably like, "Seriously, Ron?" But yeah, that's when they started withholding taxes from social security benefits. So, thanks, Reagan, I guess.

Answer 6

1935 was the year when what we called social security began . Franklin Roosevelt was the Us President. Which political party first borrowed from social security?

Was it democrat or republicans SOCIAL SECURITY: FACTS

TO ANSWER THE TOPIC QUESTION: It was Lyndon Johnson and the Democratically-controlled House and Senate. THE FACTS: READ MORE 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. 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 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. 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 President of the Senate, while he was Vice President of the U.S. Q: Which Political Party decided to start giving annuity payments to immigrants? MY FAVORITE :

A: That`s right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive SSI 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 violation of the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away! And the worst part about it is, uninformed citizens believe it! source: What president first allowed the goverment to tap into social security? Someone said: Which political party eliminated the income tax deduction for Social Security (FICA) withholding? A2: There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII. Which political party started taxing Social Security annuities? A3. The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. These amendments passed the Congress in 1983 on an overwhelmingly bi-partisan vote. The basic rule put in place was that up to 50% of Social Security benefits could be added to taxable income, if the taxpayer`s total income exceeded certain thresholds. The taxation of benefits was a proposal which came from the Greenspan Commission appointed by President Reagan and chaired by Alan Greenspan (who went on to later become the Chairman of the Federal Reserve). Neither immigrants nor anyone else is able to collect Social Security benefits without someone paying Social Security payroll taxes into the system. The question confuses the Supplemental Security Income (SSI) program with Social Security. SSI is a federal welfare program and no contributions, from immigrants or citizens or anyone else, is required for eligibility. Under certain conditions, immigrants can qualify for SSI benefits. The SSI program was an initiative of the Nixon Administration and was signed into law by President Nixon on October 30, 1972. Sometimes I have to spend an entire day just to correct the lies that the right wing nuts spread. Hopefully the American people will continue to know better.

You don't know what you are talking about. I suggest you read about Social Security from a reliable sauce so you will not embarrass yourself like this.

Answer 7

Franklin Roosevelt was the President in 1935 when the Social Security Act was passed . It was part of the New Deal.

Answer 8

A limited version of social security came about when Franklin D. Roosevelt took office.

Answer 9

Social Security began in 1935 under Franklin Roosevelt. The first payments were issued in 1940. Medicare began in 1965 under Lyndon Johnson.

Answer 10

President Franklin D. Roosevelt started Social Security when he signed the Social Security Act, part of his New Deal, in 1935.