From: Richard Arsinow <richard.arsinow@rauland.com>
Subject: RE: "bought and paid for"?
Despite the Supreme Court's ruling to the contrary, years later, Social Security benefits were certainly promoted as an earned right. It is helpful to examine the 1936 booklet which was to be handed out to employees just starting to pay into the program. It can be found at:
"The checks will come to you as a right. You will get them regardless of the amount of property or income you may have. They are what the law calls "Old-Age Benefits" under the Social Security Act. If you prefer to keep on working after you are 65, the monthly checks from the Government will begin coming to you whenever you decide to retire."
"What you get from the Government plan will always be more than you have paid in taxes and usually more than you can get for yourself by putting away the same amount of money each week in some other way."
The first quote is a government promise of benefits in exchange for contributions, and a further promise of NO MEANS TESTING. While explicit means testing has been threatened but not implemented, the income tax on some benefit recipients is actually a form of means testing.
Because changes to the program over the years raised tax rates much faster than benefits, the second quote is simply no longer true.
