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Yes,
OK, let's get realistic. If by "raid" we simply mean that Washington has been able to "use" our payroll taxes for something other than supporting Social Security, then there might be a case to be made. The Reagan administration famously used the hike in payroll tax receipts in the 1980s - which was already scheduled in the 1977 Amendments, Reagan and Congress just moved the dates up - to compensate for the tax cuts he'd pushed through in 1981, and which had ballooned the deficit. Since then, ordinary workers' payroll taxes have essentially be used to pay for tax cuts for the affluent.
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Who started dipping into social security benefits?
ronald reagan
Which administration started the taxing of Social Security?
Reagan started taxing Social Security in 1984 up to 50%. Clinton raised it to up to 85% around 1993.
What was the first time social security was raided by congress and the President and who was the President?
Reagan
What was President Ronald Reagan's solution to rising costs of Social Srcurity?
President Ronald Reagan's solution to the rising costs of Social Security was to enact a series of reforms in 1983. These reforms included gradually increasing the retirement age, expanding the base of workers subject to Social Security taxes, and implementing a system of cost-of-living adjustments tied to inflation. The goal was to ensure the long-term financial stability of the Social Security program.
How did Ragen barrow from social security?
Reagan and the government had big financial problems. ... The mechanism, which allowed the government to transfer $2.7 trillion from the Social Security fund to the general fund over a 30-year period, was the brainchild of President Ronald Reagan and his advisers, especially Alan Greenspan.
Did President Lyndon Baines Johnson borrow money from the social security fund?
I recall a news or whatever interview with Ronald Reagan where the interviewer asked Reagan why, with all his wealth, he was receiving social security. He responded that he paid into it and was therefore qualified to receive it and so he was.
In what year did Social Security Benefits and Unemployment benefits become taxable?
Social security benefits became taxable income in the year of 1984.
Why did Reagan barrow against Social Security?
President Ronald Reagan did not directly borrow against Social Security. However, his administration did redirect some Social Security revenue to fund other government programs in order to address budget deficits. This approach was seen as a temporary measure to address short-term fiscal challenges and was intended to be repaid in the future.
Who issues Social Security numbers?
The Social Security Administration issues Social Security numbers.
What is SSA in Social Security?
SSA, as used in "Social Security" is the abbreviation of the agency itself - Social Security Administration. http://encyclopedia.thefreedictionary.com/Social+Security+Administration
What is is SSA Social security?
SSA, as used in "Social Security" is the abbreviation of the agency itself - Social Security Administration. http://encyclopedia.thefreedictionary.com/Social+Security+Administration
The best way to get social security benefits is to hire a social security attorney. ?
The best way to get social security benefits is to hire a social security attorney.
