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===President Franklin Roosevelt's proposal for an overwithholding slush fund===
===President Franklin Roosevelt's proposal for an overwithholding slush fund===
The Social Security Act was drafted by President [[Franklin Delano Roosevelt]]'s committee on economic security, under Edwin E. Witte, and passed during FDR's first term which provided for workers who reach the age of 65 a pension of $8 a week at most. The plan had to be pushed through against FDR's procrastination until finally in the 1934 congressional elections the Republicans denounced him for his tardiness. When FDR finally consented to a bill, it contained a plan for building a huge reserve fund that would extract billions from the workers' payrolls without any adequate return. Over the protest of the President, the Congress finally took that provision proposed by Roosevelt out of the law.<ref>[http://mises.org/books/rooseveltmyth.pdf ''The Roosevelt Myth''], John T. Flynn, Fox and Wilkes, 1948, pp. 67-68, 424-425 pdf.</ref>
The Social Security Act was drafted by President [[Franklin Delano Roosevelt]]'s committee on economic security, under Edwin E. Witte, and passed during FDR's first term which provided for workers who reach the age of 65 a pension of $8 a week at most. The plan had to be pushed through against FDR's procrastination until finally in the 1934 congressional elections the Republicans denounced him for his tardiness. When FDR finally consented to a bill, it contained a plan for building a huge reserve fund that would extract billions from the workers' payrolls without any adequate return. Over the protest of the President, the Congress finally took that provision proposed by Roosevelt out of the law.<ref>[http://mises.org/books/rooseveltmyth.pdf ''The Roosevelt Myth''], [[John T. Flynn]], Fox and Wilkes, 1948, pp. 67-68, 424-425 pdf.</ref>
===President Lyndon Johnson raids the Social Security Trust Fund to wage the Vietnam War===
===President Lyndon Johnson raids the Social Security Trust Fund to wage the Vietnam War===