Sunday, October 22, 2017

Why Should Social Security Recipients Pay Taxes on a Tax?


Many on Social Security have to pay taxes on this tax. This, in and of itself, is wrong. People work for decades, paying into the Social Security Trust Fund, and then when it comes time to collect what they have paid into the system, they are taxed again. This makes no sense to me.

What's more, the threshold at which they must start paying taxes on their social security income has not changed since the 1980s. As a result, many elderly people actually have to pay into the system upon retirement, just at the time when their ability to pay takes a dramatic turn.

Any tax reform must address this problem.

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