His next tax will be means testing Social Security income so if you were a good doo-bee and saved your ass off, he will tax your ass off.
Social Security is already “means tested.”
http://www.ssa.gov/planners/taxes.htm
Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.
No one pays federal income tax on more than 85 percent of his or her Social Security benefits based on Internal Revenue Service (IRS) rules.
If you: file a federal tax return as an “individual” and your combined income* is between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
more than $34,000, up to 85 percent of your benefits may be taxable.
file a joint return, and you and your spouse have a combined income* that is between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
more than $44,000, up to 85 percent of your benefits may be taxable.
are married and file a separate tax return, you probably will pay taxes on your benefits.
Some Republicans would agree to that.
Plus, Social Security taxation is not indexed to inflation, just like the AMT! (it's in the article)
Already happened. DW and I get taxed on 85% of our SS “benefit” now, and we are hardly in the upper 1%.
The original promise was that SS “benefits” would be non-taxable!
Love your effing government, because your government loves effing you!