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To: TigersEye; Bratch; no-to-illegals; SunkenCiv; All

One thing that really burns me is that in 1983 (Reagan Admin.) Republicans and Democrats agreed to start taxing Social Security benefits. (Where was Norquist then?) A complicated formula was devised to determine how much tax should be paid. It included a deduction of $25,000 for singles, and $32,000 for couples. It has not been increased for 32 years. With inflation it should now be more than double. Ten years after retiring I now pay taxes on almost all my modest SS payment. Also the one-time-death-benefit begun in 1957 at $255 is still at $255. It should now, inflation adjusted, be over $2,000 and would just pay for a bare bones cremation.


15 posted on 01/21/2015 9:55:10 PM PST by gleeaikin
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To: gleeaikin

One of the frequent threats / scare tactics re: Social Security is that the eligibility age would be moved forward. That actually went into effect in 1972 or thereabouts.

http://www.socialsecurity.gov/retire2/agereduction.htm


27 posted on 01/22/2015 5:49:07 AM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: gleeaikin

Taxing SS benefits was an early indicator of the depravity of our Congress.


38 posted on 01/22/2015 1:50:20 PM PST by TigersEye (ISIS is the tip of the spear. The spear is Islam.)
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