Posted on 09/14/2024 7:28:42 AM PDT by ChicagoConservative27
Eighty-three percent of registered voters either strongly or somewhat favor former President Donald Trump’s proposal to end taxes on Social Security benefits, a recent Wall Street Journal poll found.
The policy would greatly benefit seniors who are on a fixed income and suffering under soaring inflation fueled by the Biden-Harris administration. The policy would provide an average benifit of $3,400, according to the Tax Policy Center.
Sixty-four percent of respondents said they “strongly favored” eliminating taxes on Social Security benefits, the poll found, with another 19 percent “somewhat” favor the policy. Only ten percent opposed it.
(Excerpt) Read more at breitbart.com ...
SOUNDS GOOD!!!!
We are forced to pay into it our entire lives. The least the government can do is not tax it. I mean, it likely won’t be around when I get to SS retirement age, but if it is, it shouldn’t be taxed.
Cash tips shouldn’t be taxed, either. Nor should overtime pay. These tax incentives would drive growth and motivation to work. It would also rob the government of more of our money.
Now, the obvious response to that would be to reduce government spending to pay for it. But, I won’t hold my breath.
Unlike CommiLa’s big giveaways like $25k to inflate home prices and. $50k slush funds to start businesses that come straight out of taxpayers, we already paid taxes on our wages that went into the system which is why it has long been argued that Social Security recipients are being taxed twice.
There are some options, educational institutions for instance, where SS takings were not taxed. I know my payments were a deduct from the overall income.
BTTT
People don’t like paying taxes ?! Stop the presses
Fine with me. But to reinforce the fact that we generally need to cut spending, Congress should be required to cut spending by the same amount as the expected income tax revenue reduction. We should also have a requirement that if Congress adds a spending program, it needs to be paid for by an equal spending reduction on the other side of the ledger
Sounds good, especially since the government tax takes 22% of my monthly social security check in withholding and I never end up getting any end of year “refund.”
It does alien with a basic principle that you should be taxed only one time on a source of income. We pay into SS with after tax dollars.
I agree
1. Those funds have already been taxed. IF a high earner—taxed at high rates.
2. COL raises for Soc Sec recipients needs to include what we are actually NEEDING to buy-—Fuel/groceries/heating supplies, etc.
3. Rumors of a 2.5% increase for 2025 will NOT even buy me HALF A TANK OF GAS. CAR holds 22 gallons.
First mandate "savings" from the hardworking.
Then claim it is invested in a standard manner. Call it 'social insurance'
Then, take the funds and squander them on a series of Great Society fabricated social 'problems' to eat out the core of the middle and lower classes like a cancer. Render them all unable to save or work or marry or care for their offspring or teach them to be adult. Destroy minority families so one-half of conceptuses are aborted, and of the survivors, more than half are born illegitmate.
Squander the money more on designed-to-fail, designed-to-lose abbatoir pseudowars like Vietnam and Iraq to make armament money for the upper class and destroy our best conservative middle class young citizens.
Then bankrupt the currency by spending the SS savings and deficit spending unto Weimar debt levels where we are now.
For the icing on the cake, give SS benefits to tens of millions of illegal criminal invaders who paid not a cent into it. And who send all their earnings home so they don't even contribute to the economy at large.
Then create adjunct programs such as Medicare that accelerate all of the above.
All cancers by Roosevelt, Johnson, and many others. All perpetuated by the Uniparty today. No end in sight. No recognition of the problem even.
I would support this.
No tax on tips.
No tax on social security.
No tax on overtime.
And QueMala claims that President Trump want’s to cut taxes on the billionaires.
If we are going to have an income tax, all income should be treated equally regardless of source. This includes fringe benefits. Capital gains taxation is trickier because in principle, long term capital gains should be adjusted for inflation and that would require massive record keeping for many asset classes.
Trump is in full pander mode right now, and he is providing a clear example of how the tax code has become a corrupt monstrosity. No gimmick is too low if it buys votes. We can’t win a pander contest with the dems, because the GOP is ultimately the party of people who want a functional rules-based society with equal standards equally applied, vs the dems who want a patron-client society with political bosses distributing favors.
At the rate we’re going, Harris might as well propose to make Taylor Swift concert tickets tax deductible, and Trump will counter with deductibility of greens fees at golf courses.
In a perfect world, we’d get rid of the income tax entirely. I would shift to a consumed income tax with a high zero bracket amount to protect really low income people. Alan Simpson was a champion of this for years and headed up a group that developed the idea in great detail. Many conservatives endorsed it in principle but it never quite squeezed past the gatekeepers onto the field of play.
Democrats always hated the consumed income tax because it was consistent, honest and fair, and because it would have ended the byzantine complexity of the current tax code, which provides the essential cover for systemic corruption.
We miss people like Alan Simpson.
It’s not quite that bad.
Most countries have some sort of Social Security.
There is $36T in debt and the annual deficit is $2T.
There is no fix for this. Folks flail their arms in the air and declare how this ideological choice or that ideological choice will fix things.
Math doesn’t care about ideology. There is no fix that does not involve changing math definitions.
How about this:
Declare there is no deficit and there is no debt. Create money and hand it out to bondholders.
Declare price rises are illegal.
And if someone refuses to provide product because of the price freeze, which would create scarcity, require them at gunpoint to provide product.
You cannot fix it if math remains intact.
BTW as a heads up, all of the above was proposed for oil issues some decades ago. When there was an Arab embargo, and lines at the gas stations, Texas was accused of withholding oil. The above measures were talked about.
Trump is in full pander mode right now, and he is providing a clear example of how the tax code has become a corrupt monstrosity.
Don’t hate the playa, hate the game!
And don’t forget that it was Slick Willie Clinton that signed this law to tax SS.
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