So basically, anybody with a modest pension or anybody that has saved for retirement on their own can expect a good portion of their SS income, which is THEIR money, STOLEN from their paycheck, to be taxable. I have to admit that I hadn’t looked into that situation in the past, but I will be soon.
The evil genius is not indexing for inflation. IIRC, Reagan gave them this to get tax cuts. Could be wrong. This is close to 40 yrs. old.
Not indexing for inflation is the evil part - well, one of the evil parts. I mean, $25k was a really nice retirement income back in 1980 or so - now, it’s about enough to pay for groceries and part of the utility bills. Ok, maybe a little more than that, but if you have any kind of rent, then it really, really sucks.