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Thread: Treasury Letter from 1984

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  1. 01-06-15, 08:10 PM #10
    allodial
    allodial is offline
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    Quote Originally Posted by David Merrill View Post
    I believe that this situation cannot be resolved by debate. As I read and verified the Social Security Act went into place in 1933 as an income tax, simply because it is premium based and those premiums are set by the amount of income we earn. The Supreme Court verified that as stated in the 1984 Article (Opening Posts). My interpretation of the SSI premiums as premiums is set in antiquity (admiralty), that the origins of insurance are bottomry and leaving the premiums based in income percentage does not change the nature of an insurance policy to a tax.
    The word "contribution" (in FICA) says it all--thusly, not an 'income tax'. Although, it seems and "smells like" VAT (for services) on the Federal level. The SSA was designed to be failure proof, is solvent (or should be) and is one of the most significant creditors to the United States.
    Last edited by allodial; 01-06-15 at 09:08 PM.
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