WebJan 13, 2024 · Biden’s fixation on cutting Social Security dates back to the Reagan era. One of Ronald Reagan’s first major moves as president was to implement a mammoth tax cut, tilted toward the wealthy ... Claim: List details changes made to the Social Security system over the years.
Social Security History
WebSep 23, 2012 · The surplus Social Security revenue, that was paid by working Americans, was used to replace the lost revenue from Reagan’s big income tax cuts that went primarily to the rich. 5) In 1987, President Reagan nominated Greenspan as the successor to Paul Volker as chairman of the Federal Reserve Board. WebAccording to the SSA, the Social Security Trust Fund provided about 75 billion dollars of financing to the government between 1980 and 1988, most of it came in the last year of … cannabis nm staffing
Every President
WebJan 25, 2013 · Reagan presided over large, necessary, and beneficial reductions in federal income tax rates. For this we can praise him. But he also presided over three destructive … Reagan’s scare tactics worked. Congress passed the Social Security Amendments of 1983, which included a hefty increase in the payroll tax rate. The tax increase was designed to generate large Social Security surpluses for the next 30 years. The public was led to believe that the surplus money would be saved and … See more Instead of being a proud day for America, April 20, 1983, has become a day of shame. The Social Security Amendments of 1983 laid the … See more The money was all deposited directly into the general fund and used for non-Social Security purposes. Reagan spent every dime of the surplus Social Security revenue, which came in during his presidency, on … See more Let’s have a look at the events leading up to this proposal. Reagan and the government had big financial problems. Supply-side … See more The grandiose lie that the Social Security Administration, the AARP, and the NCPSSM, repeatedly tells the public is outrageous. They … See more WebNov 23, 2024 · Dwight D. Eisenhower (1953-1961) Although more than 10 million people receive benefits from Social Security's Disability Income Trust today, disability benefits weren't a part of the original bill ... cannabis news today us legislation