Active Duty/Retiree ping.
Nobody likes to pay taxes.
Great way to thank Americas finest.
Wow, that is some kiss in the mail the general is receiving. I figure he has another 30 years to go and that means he will be getting $120,000 a year ($3.6 million for 30 years of retirement) on top of what ever he makes as a consultant from the defense industry. How many retired generals are there? I would guess there is a few thousand. At $120,000 per retiree, we are spending a little more than half a billion for retired generals each year, maybe more.
Perhaps my attitude would be different if I had a pension.
Do active military have to pay state income taxes when stationed in states that have them? Bases are not state property.
I don’t think any veteran will an honorable discharge should ever have to pay Federal Income taxes for the rest of his/her life. It should be a benefit of voluntary service.
How about a tax code that taxes all income, including transfer payments, including pensions, including military pensions, the same.
I remember proposals over the years from many scattered places to exempt the pensions of policemen, firemen, teachers, etc. from taxation. The rationale given is that our public servants have made such an incredible financial sacrifice by taking a public salary all these years. While the reality is that public sector incomes outstrip private sector incomes by a wide margin.
I don't begrudge anyone what he has earned, but income is income and ought to all be treated the same when it comes to taxation. In a rational tax code, that would include fringe benefits, 100 percent of Social Security payments, all welfare benefits, etc. Broaden the base and lower the rate. We broaden the base by treating all income the same.
29 years in, we’ve been trying to figure out where to retire to... For us, there is no reason to retire to a state that will tax our retirement pay. But I would love to reconsider SC if they make this change.