UH OH!!!
(media.greatawakening.win)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (29)
sorted by:
And even then, only 1/2 was "potentially" taxable. - The 1/2 that had NEVER been taxed.
Bill Clinton added the additional 35% to be taxable for high incomes.
Oh, and the threshholds to make it taxable, 25K, and 32K, have NOT changed since ??1986??.
I'm not a finance or tax expert but I do disagree on taxing SSI OR SSD if you've paid into it all your life... Cheers fren...
But the 1/2 your employer paid in, or 1/2 you paid in as a self employed person, has never been taxed. (And I am a tax professional.)
The 25K/32K threshholds are a real problem. In the late 80's, hardly anyone paid income tax on SS, now most do - and higher income people pay income tax on 35% of SS that they have already paid income tax on.
I'm paying income tax on 85% of my SS.
Paying income tax on SSI or SSD is imho wrong... There are people out there that are unable to work for genuine reasons that are being taxed on it... Single parents with disabled children for example... Single parents unable to work for real health reasons trying to raise a child or children... They shouldn't be taxed for extenuating circumstances beyond their control... Now I do know there are those that cheat or game the system and they get SSI or SSD that shouldn't be... They should more than likely be taxed but not the others..