Posted on 02/14/2022 7:21:03 AM PST by jonrick46
Should Income Tax Be Paid on Social Security?
No. It’s double taxation. I’ve already been taxed to support this Ponzi scheme.
No, even if you have other income.
But congress fixed that long ago.
Better question, should there even be a social security!
Hint: NO!
...if my increasingly feeble memory serves me correctly, federal income taxes were not taken out of beneficiaries’ monthly SocSec payments.....that is until one uber-liberal democrat senator from the Peoples Democratic Republic of Massachusetts, one “Teddy” Kennedy, pushed through legislation that did mandate fed. inc. taxes on SocSec benefits....hope he rots in Hell.... unfortunately, MaryJo Kopechne is not available for comment at this time....
I don’t see a problem with it; the money you contributed (and your employer contributed) wasn’t taxed when you ‘saved/contributed’ it, so not much different than getting taxed on the money in your 401K when you start withdrawing it.
Granted, I’d just assume not pay any taxes on anything, but the money needs to come from somewhere.
>>Granted, I’d just assume not pay any taxes on anything, but the money needs to come from somewhere.
and just o be more clear - I think carving out certain segments of people, and making them exempt, is what get us the problem we have - people are more than happy to vote for more spending if they think someone else will be picking up the tab. Everyone should have skin in the game; a vote for more spending should be a vote for more money coming out of your paycheck.
We have federal taxes withheld on SS income. This is because we have other income that is not taxed at source, and I would need to pay quarterly estimated tax on that income. It is just easier to have the money withheld from my SS check.
“””Should those collecting Social Security pay federal income tax on that income?”””
You need to ask Bill Clinton that question. Bill Clinton was the one who did it.
No
lots of towns around me have tried to do something similar - they tried to pass local by laws to exempt senior citizens from certain local tax hikes - the goal was to get them to vote for the spending plans (whatever they were) - who isn’t going to vote for the new school, new fancy park, new bike paths etc if its all ‘free’ exemption the people who are the most reliable voters, is nothing more than stacking the decks.
They already tax it with inflation. Every year you have get less than the year before in spending power.
No.
Where is Neil Boortz when you need him?
The better plan would be to stop doling out untaxed millions to illegal aliens and leave us older folks alone!
Correct. Up to 85% of your social security benefits can be taxed. The percentage depends on your other income. Look on the Form 1040, line 6a for 2021 tax year.
There should be NO income tax.
There should be NO Social Security.
I mean, you get forced to pay into Social Security. By the time I was in my 20s I had already paid enough Social Security that I could have bought a small house with it. I would like to get some of that money back, since I had no say in whether it was deducted from my paychecks. Being forced to pay into it and then having to pay tax on it adds insult to injury.
No one should have to pay tax on his/her personal income. Income tax is one of the biggest frauds in history. Social Security is just larceny - especially in view of what our evil overlords are using it for. (In case you are confused about my meaning: They’re using our Social Security to fund the illegal alien invasion. We’re supposed to be OH SO HAPPY that illegal aliens can come here and get free housing and medical care, courtesy of OUR Social Security.)
Um, no.
We do already. If you have the audacity to earn money while you are getting SS, they tax the hell out of you. They avoid saying that your SS is taxed, but it effectively is when they raise the taxes on you while you get SS.
The federal government is a fraud.
What is the point of the government giving money with one hand and taking it back with the other? The same question applies to military pay.
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