Last edited Thu Aug 1, 2024, 05:56 AM - Edit history (1)

Cut Social Security or eliminate it. Less taxes b/c less or no income.

my lifetime the Republicans are going to take SS and it never happens. When we hear the Wolf is coming and this is
the most important election in the history of the US every four years many people just think it is politics as usual. You can't really blame people for wanting to vote everyone out.

This was true and his only intent is to reduce or cut taxes on social security it'll never come to fruition because he simply doesn't understand the legislative process nor has the ability to push it through.

And, he's an idiot.

A fixed tax on the ultra-wealthy based on stock ownership.

fund. So eliminating this will cut Social Security's revenue stream. And it's a progressive tax -- 52% of SS beneficiaries don't meet the income threshold and so don't pay any income tax on their benefits. The other 48% pay according to a progressive schedule based on income and SS benefit amount. So that's why Felonious Maximus wants to cut it.

This is not a linkless assertion of opinion as fact, as is a little all too common. Here is the link:

https://www.ssa.gov/policy/trust-funds-summary.html

If SS needs more revenue, tax people still working. Raise the cap. Taxing retirees has always struck me as ridiculous.

single person and $32000 for a couple, the idea was to tax upper income retirees. In 1983 I don't know the
actual number but probably 10% or less people had to pay the tax. The threshold has never been adjusted for inflation.
Now 48% of SS recipients pay the tax and eventually everyone will. Adjusted for inflation the threshold would be $80000
for a single and $102000 for a couple. This was the brainchild of Ronald Reagan, I can't believe Democrats support
something RR came up with.

We forget who wrote the law... a majority Democratic Congress.

idea that Clinton got passed and Republicans have been blaming Democrats for it for the last
30 years. Bill Clinton raised the tax on SS from 50% to 85%. I remember the Clinton years when
everyday Rush Limbaugh opened his show talking about Clinton raising the tax on SS but ignored the fact
that it was RR that got it passed in the first place. Nevertheless, it is unfair. If two people work the same job
all their life and receive the exact same pay one gets the full SS while the other has to pay tax on 85% of his.
One of them didn't save for his retirement and fight to get a pension he doesn't pay tax on SS. While the other
maybe went on strike and fought to get a pension and maybe opened a 401K has to pay tax on 85% of his SS income.
There are people on DU that think people that pay less into SS should get the same as the ones that pay twice as
much. That also helps make SS a welfare program. I disagree with many things I read here on DU but it is better than the alternative.

Franklin D. Roosevelt signed SS into law on August 14, 1935.

We know we can trust what you say!!

he gets in, seniors won't have to pay that tax because social security will be gone.

a piece of SS candy will make them forget that he
plans to dismantle SS entirely.

But Harris and her team should consider this also. Its quite ridiculous to tax social security payments. Its quite contrary the purpose of social security.

I forget the limit, but I don't have to unless I earn a certain amount on supplemental side jobs.
This prevents someone from earning $100k at the drive thru window at Wendy's from exempting part of their income.

I went on and had SS take out federal taxes just in case... so I don't get gagged at tax time. I can always adjust that later.

Fortunately PA doesn't tax any retirement income.

in 2023 taxes, it made a big difference. Until then, I was paying almost as much to Minnesota in income taxes as to Federal.

I pay nothing to the feds, and I also collect a few hundred a year in gas well royalties.

mill and I have paid taxes every year on my SS since I retired in 2010. When I get the SS COLA every year the taxes
increase and claw back part of it. If you get $25000 a year is that considered wealthy? I don't agree with much of anything Trump says but I agree on this issue. That promise will guarantee we don't carry Florida.

What's more, I qualify for free Blood thinning meds from Bristol Myers because of my income. That saves about $350 a month.

I have retired friends who don't even bother filing. The Fed doesn't take deduction from their SS check and they don't get a pension.

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I still work so my combined is way over that. I pay significant tax on my ss income.

Our other income is up and down, but when it's up, a big chunk of our SS become taxable.

So he could give a big fat tax break to his fat-cat supporters/enablers? I hate him too much to do ANY deep-dives on his shitty legacy.

... none of this would be necessary.

Chump tried to destroy our government with that tax break for the super-rich and he nearly succeeded.
Let the super-wealthy pay their own fair share and stop living off the backs of America's Middle Class.

Chump did this - All of it!

Social Security and pensions should *NOT* be taxed.

I knew it was too good, decent, and just an idea to have originated on their side, even as the most cynical camouflage for doing the exact opposite.

Really appreciate the link.

that legislation will be reintroduced!

Again,

It should have been a Democratic initiative years ago.

Simple, no benefits, no tax, look at the fine print folks.

Of course Trump will privatize everything. America will be great again when every road is a toll road. And no federal matching grants for anything.

Got it.

Why not? Trump is pandering, but the idea is as much a Democratic as Republican one.

Of course, it is a cynical attempt to attract votes. People should remember that Soc Sec benefits were first taxed in 1984 under Reagan