To: Logical me
Correct me if I'm wrong, but even though there's no withholding, SS recipients still pay income tax on their SS income, do they not?
9 posted on
05/12/2005 9:49:32 PM PDT by
Mygirlsmom
(Celebrating 20 years of wedded bliss on 4/20/05. I have much to be thankful for!)
To: Mygirlsmom
If you are asking about the SS payments under the FairTax, then no, there is no payment on this (or any other sort of) income you receive.
98 posted on
05/14/2005 1:27:37 PM PDT by
pigdog
To: Mygirlsmom
Not only is Federal Income Tax paid on SS benefits, Federal Income Tax is also charged on UNEMPLOYMENT benefts.
It is interesting to see the proponents of increasing the Minimum Wage, never mention that although those earning Minimum Wage pay little or no Federal Income Tax, they pay SS Tax on every dollar earned! I believe it is one of the principal reasons for raising the Minimum Wage - a tax on low income wage earners!
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