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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.
What else can I help you with?
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
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.
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.
Did President Reagen use SS assets?
Yes, President Reagan did use Social Security (SS) assets during his administration. To address budget deficits and reduce the national debt, the Reagan administration incorporated Social Security surpluses into the federal budget, effectively treating them as part of general revenue. This practice continued with subsequent administrations, raising concerns about the long-term sustainability of the Social Security trust fund.
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.
Why did Reagan barrow against Social Security?
No President has ever "borrowed" against Social Security. By law, the Social Security Trust Fund must be invested in Treasury bonds. The problem is that the Federal government has always included the balance in the Trust Fund when calculating the Federal budget deficit, debt, etc. Now that balance is decreasing rapidly.
In what year did Social Security Benefits and Unemployment benefits become taxable?
Social security benefits became taxable income in the year of 1984.
Who issues Social Security numbers?
The Social Security Administration issues Social Security numbers.
Can you still get social security while attending college?
No. At one time a student could go to college if he had a parent that had died or was disabled. This benefit was cut in 1981 under the Reagan Administration.
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
