I just received my retirement check. Along with it was a card stating that there is or will be a new deduction on my retirement because its "not earned income and does not qualify for the Making Work Pay credit". Comparing last month's statement with today's I can't see any difference in deductions or net benefit to me.
Does anybody know what this is? I'm reasonably comfortable and can withstand a little more deductions if I have to. But I really wonder it might effect much older less well off retirees who need every nickel?
And the name of the thing makes me wonder if we are taxing retirees to reward workers? I don't know what to think.
Come Monday I want to learn more about this.
