In 1984, the federal government began taxing Social Security benefits following bipartisan approval of legislation in Congress. Initially, beneficiaries who met the income threshold had to pay taxes on 50% of their Social Security benefit, but a second threshold was added in 1993, beyond which 85% of benefits were subject to taxation.
Oddly, neither threshold has ever been adjusted for inflation, and ..
In 1984, less than 10% of beneficiaries actually owed taxes on their benefits, but each COLA since that time has pushed more seniors over the income threshold. As a result, 47% of beneficiaries owed taxes on Social Security income in 2010, and that figure is expected to reach 58% by 2030.
“ In 1984, the federal government began taxing Social Security benefits following bipartisan approval of legislation in Congress…”
If you can find out Tge sponsor of that bill through the costly google cover up you’re good. It was someone who’s seen many cover ups -still ongoing
It is odd. Probably intentional to tax even more SS benefits.