My idea: Do not tax ANY Social Security income provided that seniors work 10 hours/wk and PROVE it thru paycheck stubs that they worked 500 hours in any calendar year. There’s work to be done even if it’s moping the floor. Don’t tax the income. Let Mexicans put on the makeup to work harder.
Expected in January, 158,000 (139,000 in the private sector).
Dept of Labor actual 225,000 for January.
ADP reported 291,000 in the private sector.
I saw Gordon Gray of Capitalist AAF describe this with lack of enthusiasm. I got the impression that he wants to continually lower expectations so the real always exceeds the expectations.
Imagine the headlines if the media were to create high expectations and then make a big deal if the real falls short of expectations. So it is good for us that the media is so into TDS and they cannot play the game to their advantage.
Separately I wonder if the expectations game is a way of playiong the stock market. Expectations go down, the gullible and those with TDS sell. The optimistic buy.
Then the real numbers beat expectations. The previous sellers now buy high and the savvy players sell at the high. 2020 will be a volatile market.
Social Security should not be taxed twice. Funds confiscated from you during your working years were already taxed years ago. Current payout should not be taxed again. Social Security should be treated as a Roth IRA.