And that is what makes my jaws get tight. Clinton instituted a tax on Social Security benefits. Going to be a good day when his assorted venereal diseases catch up with him.
“ Clinton instituted a tax on Social Security benefits. Going to be a good day when his assorted venereal diseases catch up with him.”
Have you seen him lately?
Looks like he’s there.
“The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. These amendments passed the Congress in 1983 on an overwhelmingly bi-partisan vote.
The basic rule put in place was that up to 50% of Social Security benefits could be added to taxable income, if the taxpayer’s total income exceeded certain thresholds.
The taxation of benefits was a proposal which came from the Greenspan Commission appointed by President Reagan and chaired by Alan Greenspan (who went on to later become the Chairman of the Federal Reserve).
The full text of the Greenspan Commission report is available on our website.
President’s Reagan’s signing statement for the 1983 Amendments can also be found on our website.
A detailed explanation of the provisions of the 1983 law is also available on the website.”
https://www.ssa.gov/history/InternetMyths2.html
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“In 1993, legislation was enacted which had the effect of increasing the tax put in place under the 1983 law. It raised from 50% to 85% the portion of Social Security benefits subject to taxation; but the increased percentage only applied to “higher income” beneficiaries. Beneficiaries of modest incomes might still be subject to the 50% rate, or to no taxation at all, depending on their overall taxable income.
This change in the tax rate was one provision in a massive Omnibus Budget Reconciliation Act (OBRA) passed that year. The OBRA 1993 legislation was deadlocked in the Senate on a tie vote of 50-50 and Vice President Al Gore cast the deciding vote in favor of passage. President Clinton signed the bill into law on August 10, 1993.”
https://www.ssa.gov/history/InternetMyths2.html
Many of the same people who were in Congress when clinton proposed this are still there....funny how people forget that.
Presidents can propose all sorts of things...but it takes Congress acting to make anything happen. You really don’t think Congress is going to pass up an opportunity to tax something that they then can spend the money collected on some other “thing”.
Presidents really have very limited ability to effect anything. They can propose all kinds of stuff but that’s it. If Congress isn’t on board then nothing gets done. Yet voters keep re-electing “their” Congress critters because of a “mine is OK” type of attitude. Term limits will never fly because guess who has to pass the law doing that...yep Congress. Anybody really think they are going to limit their power and perks willingly...???