Taxing Social Security

[phalanx]

Does Biden intend to do this? What an A-hole. 

[ironglow]

  Biden and the Democrats started taxing Social Security back in the 90s..now he wants to do it again.
 
   https://www.usatoday.com/story/news/factcheck/2020/10/16/fact-check-joe-biden-okd-social-security-taxes-wants-savings-reform/5896512002/

   Problem is..Social Security IS NOT secure..it is in danger.. especially since congress has been using it for a piggy bank..

     https://www.heritage.org/social-security/commentary/7-facts-biden-ignored-about-social-security-his-speech-florida-retirees

[Ranger99]

Yeah, they've been raiding it for a
while to buy votes from those who
never paid into the system.
I know more than a few that paid in
all their lives and have extreme difficulty
in getting any help, and some that do
receive some benefits that just get
a pittance each month. My mother paid in
for 60+ years and barely received enough
to squeak by. Plus the scammers and
cheats are never adequately punished

[Lloyd Smale]

ive always had to pay income taxes on my social security.

[Dixie-Dude]

If your only income after retirement is SS, then it is not taxed.  If you have other income to go with it, like a 401k, IRA, or such.  Then all income is taxed. 

SS takes care of Medicare and Medicaid also.  In the 1960's SS had a huge surplus, thus adding Medicare and Medicaid out of SS.  Then they started trying to balance the budget using SS tax income.  That means they borrowed from it to pay for their pet projects.  Now SS is running out of money. 

[Dee]

ive always had to pay income taxes on my social security.

That's because you draw a company retirement check, and a military disability check, along with ss.

They'll tax mine this year because of my ranch mgr job.

[Lloyd Smale]

yes i do. In MI it goes by income and even if i was just getting ss and my wife is working We make enough to have to pay taxes on it. for me to get out of it like that we'd both have to file individual single status taxes and the smaller deductions would cost us more then paying tax on the ss. i works out fine i just have it taken out of my retirement and my social security checks. Just enough to break even with what ma pays on her income I think last year we got a 140 dollar return and had to pay the state 55 bucks. I actually dont take a hit on social security compared to others who worked along side of me. Because what i take out in taxes on it each month wouldnt even pay for medicare and i use the va for everything so I canceled my medicare. michigan has another nice deal for disabled vets. We dont have to pay property tax on our primary residence.   

ive always had to pay income taxes on my social security.

That's because you draw a company retirement check, and a military disability check, along with ss.

They'll tax mine this year because of my ranch mgr job.

[TrumpWon]

 The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. These amendments passed the Congress in 1983 on an overwhelmingly bi-partisan vote.

[phalanx]

Even if SS is your sole income, its not taxable unless its over 25,000 for the year. Looked it up on a tax web site.

[oldandslow]

Taxing SS is just another of the ways the government screws us on SS. The raises are always less than the actual inflation rate because the the items it is based on is cherrypicked along with the income earning group and retirees aren't in that group. Throw in that medicare premiums eat up most of the raise every year and people drawing SS just get a little farther behind every year and then the government gets back a bunch of what is paid out in the form of taxes on it. Then some states stick it to us by taxing something that they have nothing to do with. Politicians operate on the theory of "get every dime you can from everyone you can".

[Lloyd Smale]

must be why most that get full ss get just over 25k a year for it. I think mine is like 2300 a month. but that said i believe if its your sole income  ss it cant be taxed at any level. At least thats what my tax guy told me.must be why most that get full ss get just over 25k a year for it. I think mine is like 2300 a month. what a racket. You get a job they tax your income. Then tax everything you buy with it. 3rd owner of a truck?? been taxed 3 times. drive it? pay for a plate (tax) pay for tax on your fuel. buy a home? pay taxes then pay property tax on your own land!!  Then they take your social security out of i your check. They collect interest off of it, use it for slush fund for all there pet projects then when you want to use the money you let them borrow for 30-40 years on a zero interest loan they then penalize you by making you pay taxes on the money THEY BORROWED. I sometimes wonder whos the dumb son of a bitch. Me? or is it the welfare bum that pays NO Tax and get all his money without lifting a finger? pays not a penny into social security but can collect the minimum pay out when hes of age and a forth of them end up on social security disability for ptss our some other psych problem. Now they even want to give them free college? Have to laugh at that one. Not .0001 of one percent of them would ever go to college and if they did they just go till they flunked out so they could sell some drugs on campus. What a flipping world!! 

Even if SS is your sole income, its not taxable unless its over 25,000 for the year. Looked it up on a tax web site.

[phalanx]

Disability rolls over into your regular SS at a certain age.

[Lloyd Smale]

Disability rolls over into your regular SS at a certain age.

65 mine was changed last year. Doesnt really change anything though.