Social Security payments would be exempt from taxes under Donald Trump’s latest campaign trail tax cut proposal, as he seeks to secure key voters in an increasingly competitive race.
The cost of fully exempting Social Security benefits from taxes could top $1.6 trillion over a decade, according to the Tax Foundation, a right-leaning think tank. The policy has some supporters on both sides of the aisle in Congress, but so far legislative proposals have failed to pick up momentum. Trump has also called for tax breaks for tipped employees.
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Ole joetato voted twice to tac SS.
ReplyDeleteTo bad Trump didn't start this before Biden dropped out, Gropey Joe voted for taxing Social Security in the first place...once in 1983 and again in 1993, y'know...typical democrat tax and spend, spend and tax ...
ReplyDeleteirontomflint
Great idea, never going to happen. Once congress starts taxing something they NEVER stop.
ReplyDeleteOMG! Tax law changes that allow us commoners to reduce our liability instead of credits and carve outs for the investor class. Stimulate the economy from the bottom up instead of the top down. What a concept!
ReplyDeleteI have an idea. Let's pay for it by not giving any more money to Ukraine. Or "green energy" scams like rebates for buying EVs by the well-to-do virtue signalers.
ALL TAXATION IS THEFT. Taxation of income is SLAVERY TO THE GOVERNMENT. That being said, either SLASH GOVERNMENT SPENDING, or cuts in theft will only result in more debt and more inflation - the hidden tax. What are you planning on cutting Mr. TRUMP?
ReplyDeleteBlame AlGore and the dems for this one. Trump's right. Paying tax on ANY government transfer payment is just stupid. Here's yer money FROM the gub'mint, now give us BACK this much of it. Huh? Just don't give me as much, fer pitys sake.
ReplyDeleteThe ONLY place I know of where this works right (and as it should) is VA disability payments. VA disability are not only not taxed, they are not even reportable- they flat do not exist for tax purposes. No 1099, no other paper, nothing to clear. Not. Reportable. Not on the 1040 at al. Don't know if that holds at the state level too, but - probably. Since there's no paper, how would they know?