Posted on 07/31/2024 9:53:44 AM PDT by Red Badger
Former President Donald Trump announced his intention to eliminate taxes on Social Security checks if he regains the White House.
This announcement comes as part of a larger strategy outlined by the Republican National Committee (RNC) in their 2024 GOP Platform released earlier this month, titled “Make America Great Again!”
This comprehensive platform is inspired by the enduring vision of former President Donald Trump.
“The Republican National Committee (RNC) Platform Committee adopted President Donald J. Trump’s 2024 Republican Party Platform with overwhelming support– a pro-American agenda that stands in stark contrast to the record of weakness, failure, and dishonesty created by Joe Biden,” the Trump campaign said.
“President Trump’s platform serves as a contract with the American voter that makes clear what we can and will deliver under a President Trump administration with the Republican Party leading the country for the next four years.”
The platform emphasizes a commitment to protecting Social Security and Medicare, promising no cuts or changes to the retirement age—a sentiment that resonates deeply with millions of Americans who rely on these programs for financial stability.
“Fight For And Protect Social Security And Medicare With No Cuts, Including No Changes To The Retirement Age” is one of the twenty core promises highlighted in the platform.
On Wednesday, Trump took to Truth Social to amplify his message. “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!” he declared, framing the tax elimination as a necessary step to ensure that seniors can keep more of their hard-earned benefits.
His statement has been met with enthusiasm from many, who view this proposal as a direct response to the financial struggles faced by older Americans.
I know a person who was a victim of an electoral accident as a kid. He’s in his thirties now. He has the brain power of a baby. He’s been on SSI all his life because he never got an opportunity to be an adult and work and pay in.
As Milton Friedman said, any tax cut is a good thing. I remember sleazeball Clinton after his ass-kicking in the midterms saying ‘I guess I raised taxes on SS too much’. Of course sleaze ball knew he would leave office a multi multi millionaire and it wouldn’t effect him.
Yep. That’s one way to qualify for it. I’ve read where there are baby mama’s out there that have all their kids on SSI to ramp up their income as well as SNAP, TANF, AFDC, Section 8, etc.
“NO SS retirement benefits are taxable IF they are not combined with OTHER INCOME”
I was wondering about that. Don’t we need to also be hearing of ways to reduce our national debt and additional borrowing?
No taxes on tips or SS - sounds like a winning message
Ditto
There are people who legitimately can not work as the example I give (his mother has been his care giver all his life), then there are people who exploit the system.
People who really need help should get it, point blank, that’s my opinion, otherwise we go back to the days were undesirables were just put to death/cast out/a special needs baby was thrown into the sea.
You began the insults by calling it a dem tactic and other insults that you thought were correct. I responded to you with the same.
”Hey - did you hear Trump said he'll make sure we won't have to pay taxes on our social security benefits. GREAT IDEA!”
You don’t think a little tweeking on that statement would be in order?
Trump didn't say that "statement". You just made that statement up. Why not use real Trump quotes?? Your quotes are disingenuous and are exactly what you complain about.
If he adds no taxes on military up to E-5, might see more people in the military
I thought the capped benefit was @$3800 ?
Great idea!!!!
Where did you read that?
This is true. If you are getting nothing but SS your income tax will be minimal to zero.
Some richer @#£%, like me (but not me), will benefit, and quite nicely too.
As I am a foreign resident and have switched to Spanish taxes, it won’t affect me, personally, alas. @#£% Spanish tax treaty.
More for you guys I guess.
fRACKING BRINGS IN MASSIVE AMOUNTS OF MONEY GODO THE RESEARCH
“That’s disingenuous....I can’t believe they’re putting out such a statement. NO SS retirement benefits are taxable IF they are not combined with OTHER INCOME (investment etc.) meeting the IRS threshold of XXXX $$$$...”
The purposal is by default ALL SS is non taxable, what the other retirement plans can be if you played your 401k/Roth/cIRA/gains out the correct way.
As IRS dollars are pegged to inflation, and come in fixed amounts monthly, people do get themselves in income conditions (good thing) where their benefit is taxed. It isnt alot of money, it is good campaign promise.
No taxes on tips is recognizing how bad the server economy has gotten with all plastic transactions. Tips just are not what they use to be 20-40 years ago. Leaving the coins sent a lot of tips over 25%.
Agreed. And lots of people who withdraw from tax-deferred accounts (traditional 401k/403b/457 or traditional IRA) increase their MAGI to the point that their in the SS bracket that makes their SS check taxable income too. Same for if you collect a pension in retirement.
If your in the right zip code, set up in a bought and paid for house, on govt paid health insurance, your very close to min costs to maintain a household of 1. Most americans are set up with another 50% more income from other sources. Some americans blew it, knowing this day will come for 40 years+.
Go Go Go
“hard earned benefits.” Donald, SS is not a “benefit.” It is effectively a government mandated confiscation of personal wealth parked in a government institution so that it can be raided for welfare programs.
Yup. Government forced withdrawal from one’s IRA seems unconstitutional to me.
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