Posted on 02/14/2022 7:21:03 AM PST by jonrick46
Should Income Tax Be Paid on Social Security?
Hell no!!!!
I already pay Federal tax on my Social Security benefits each month.
Better question: “Should Socialist Insecurity” even exist?
You’re taxed on the money withheld for Social Security so I would say no.
Yes, us too. We did the quarterly thing for a while. Didn’t like that.
I already paid those taxes when I paid my payroll SS taxes.
There shouldn’t be an income tax. On any income.
Question:If everyone over age 50 had their own nest egg worth half a million would there be a need for SSI?
My solution: Allow 100% of ones salary to go into their own Roth. Allow wealthy grandparents to contribute to it. This is done by ELIMINATING the income tax and going to a national(fair) tax. The only non-taxed purchase would be for these IRA’s plus a few foodstuffs(rice & beans). Once the Roth reaches $500k then eliminate all other non-tax contributions.
The income tax can be eliminated by lowering it to 1% right off the bat. Then work on getting rid it altogether. Think of the amendment that allows it.
I/We already paid tax on it.
"Oh, please. Do me a favor. Don't use the word. You may not use that word. It's off limits to you! Only those in this house who understand nest egg may use it! And don't use any part of it, either. Don't use 'nest.' Don't use 'egg.' You're out in the forest you can point: 'The bird lives in a round stick.' And, and, and you have things over easy with toast!"
My mother used to pay all four quarters of estimated tax in April, so at least there was only one check, only one thing to remember.
No. There shouldn’t be any federal taxes at all.
Yes, My Mother did the same.
Lol. Are we related?
Me too! I only pay the total amount on or about 1 April of every year. And I’m pretty sure we’re not related. After a certain age it’s okay to do that....
(I just wish it wasn’t too much!)
I shouldn’t be but it already is for higher income people.
Right? 😁
No, and we shouldn’t be paying income tax either. That how we’re in this mess. Unlimited funds for unlimited crooks!
The so called death tax is the most disgusting tax ever.
It is the same with inheritance taxes. That money has been taxed as well. So it’s more double taxation.
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