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Ida May Fuller
== Criticism ==
== Criticism ==
Social security has been called a "Ponzi Scheme" that "shifts wealth from private individuals to government."<ref>http://www.americanthinker.com/2011/03/the_politics_of_social_securit.html</ref> The Social Security tax (aka the payroll tax or the FICA tax - Federal Insurance Contribution Act) has been called a [[regressive tax]] by the [[liberals|political left]] because the effective tax rate decreases as income increases (because there is a taxable maximum).<ref>[http://www.ssa.gov/OACT/COLA/cbb.html "Contribution and Benefit Base." Social Security Online]</ref> Social Security has also been widely (and wrongly) criticized for contributing to the United States's [[National Debt]] even though the Social Security Trust Fund is separate from the Treasury's general funds and the Social Security Trust Fund has actually financed a large portion of the national debt.<ref>"The Truth About Who Really Owns All of America's Debt." Business Insider. http://www.businessinsider.com/who-owns-us-debt-2011-7#social-security-trust-fund-17</ref>
Social security has been called a "Ponzi Scheme" that "shifts wealth from private individuals to government."<ref>http://www.americanthinker.com/2011/03/the_politics_of_social_securit.html</ref> The Social Security tax (aka the payroll tax or the FICA tax - Federal Insurance Contribution Act) has been called a [[regressive tax]] by the [[liberals|political left]] because the effective tax rate decreases as income increases (because there is a taxable maximum).<ref>[http://www.ssa.gov/OACT/COLA/cbb.html "Contribution and Benefit Base." Social Security Online]</ref> Social Security has also been widely (and wrongly) criticized for contributing to the United States's [[National Debt]] even though the Social Security Trust Fund is separate from the Treasury's general funds and the Social Security Trust Fund has actually financed a large portion of the national debt.<ref>"The Truth About Who Really Owns All of America's Debt." Business Insider. http://www.businessinsider.com/who-owns-us-debt-2011-7#social-security-trust-fund-17</ref>
Most notably, the first recipient of Social Security, [[Ida May Fuller]], paid in less than $25 dollars while she received well over $20,000 in return over the course of 35 years.
==The future of Social Security==
==The future of Social Security==