In an effort to save the Social Security system from impending insolvency, Democratic (socialist/fascist) President Carter signs the Social Security Act of 1977, more than tripling SS payroll taxes. Carter claims “[T]his legislation will guarantee that from 1980 to the year 2030, the Social Security funds will be sound.”
Postscript: Five years later SS was again in danger of becoming insolvent.
[restored 8/2/2025]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Social Security Amendments of 1977 Statement on Signing S. 305 Into Law. | The American Presidency Project
www.presidency.ucsb.edu/documents/social-security-amendments-1977-statement-signing-s-305-into-law
History of Social Security in the United States – Wikipedia
en.wikipedia.org/wiki/History_of_Social_Security_in_the_United_States
Current U.s. National Debt:
