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Kaleva

(40,365 posts)

10. Those of us who have only SS to live on don't pay tax

Reply to Omaha Steve (Original post)

Sat Feb 10, 2024, 05:19 PM

Feb 2024

I guess it's a good deal for those making much more to not have to pay tax on their SS

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'Win-win': Bill to eliminate taxes on Social Security benefits reintroduced [View all] Omaha Steve Feb 2024 OP

Fixing another Reagan disaster Charging Triceratops Feb 2024 #1

It was a bipartisan hit job. Voltaire2 Feb 2024 #44

Yep, everything Reagan signed into law had to pass the House first MichMan Feb 2024 #56

Anything that reverses something Reagan is good for America. calimary Feb 2024 #55

Please let this happen jimfields33 Feb 2024 #2

Get it early if you can. My oldest friend just died at age 60 of liver cancer, so no SSA ever after paying ArkansasDemocrat1 Feb 2024 #14

I'm sorry to hear that. jimfields33 Feb 2024 #18

The annual COLAs are in normal times failing to keep up with actual inflation ArkansasDemocrat1 Feb 2024 #23

I can't even grieve yet ArkansasDemocrat1 Feb 2024 #62

At Least Here In Illinois, We Don't Pay State Income Tax... ProfessorGAC Feb 2024 #50

Same in PA Freddie Feb 2024 #51

No state income tax on IRA or 401k withdrawals either? MichMan Feb 2024 #57

Correct ProfessorGAC Feb 2024 #59

Another Reagan-era legacy that needs to die... Wounded Bear Feb 2024 #3

"a major source of revenue for the Social Security Old-Age and Survivors Insurance Trust Fund." bucolic_frolic Feb 2024 #4

Raising the cap Omaha Steve Feb 2024 #5

Once upon a time, I had a streak of years where i 'paid out' on SS payments EYESORE 9001 Feb 2024 #6

I don't see how Biden signs that unless the top limit is $400,000 Shermann Feb 2024 #11

I'm a payroll admin Freddie Feb 2024 #52

I had to read that a couple times before I figured out it must mean the cap dflprincess Feb 2024 #27

If you work like I do PLUS receive SSI it's clobbering time. GreenWave Feb 2024 #7

Until I read your post I was feeling sorry for myself after doing my taxes this afternoon. dflprincess Feb 2024 #26

Payroll taxes are estimates and assume it is your only income Shermann Feb 2024 #41

If it's a win win for the "average Joe retiree" B.See Feb 2024 #8

I can hear the Republicans Conjuay Feb 2024 #9

Let them ArkansasDemocrat1 Feb 2024 #15

Those of us who have only SS to live on don't pay tax Kaleva Feb 2024 #10

Makes a difference for some couples, Pinback Feb 2024 #24

From my perspective, they are well off Kaleva Feb 2024 #46

But this would not hurt you TxGuitar Feb 2024 #48

Perhaps a better idea would be to couple a tax credit for those without other income with a tax cut for those barbaraann Feb 2024 #54

I'm not begrudging it but I won't support it either Kaleva Feb 2024 #60

You can be taxed on only SS 'income'. Voltaire2 Feb 2024 #49

From the SSA Kaleva Feb 2024 #61

From the maths: Voltaire2 Feb 2024 #63

That is incorrect the tax is not 50% it starts doc03 Feb 2024 #67

Correct. It starts at 50%. With only SS benefits you don't get to 85%. Voltaire2 Feb 2024 #69

wasnt it rr also who added co pays and deductables on top of the monies we already paid 4? AllaN01Bear Feb 2024 #12

No. Presidents do not pass legislation. The 'Reagan' SS changes were passed by a Democratic kelly1mm Feb 2024 #19

During the Reagan Administration a tax of up to 50% doc03 Feb 2024 #30

Yes, I know. Both passed by Democratically controlled congresses. Neither Regan nor Clinton 'raised' anything. Only kelly1mm Feb 2024 #31

Check my post again I added some information on edit. nt doc03 Feb 2024 #32

Again, neither the Reagan nor the Clinton administration raised taxes paid on SS. The Democratic kelly1mm Feb 2024 #33

What is your problem I said the Reagan and doc03 Feb 2024 #35

Because there is a difference between what happens in the administration of X president kelly1mm Feb 2024 #37

Both Presidents signed the Legislation... Happy Hoosier Feb 2024 #39

They would have been bystanders had the Democratically controlled congress not have acted. nt kelly1mm Feb 2024 #40

I don't know what you are trying to argue about, I said during the Reagan and Clinton doc03 Feb 2024 #42

The term administration refers to the executive branch MichMan Feb 2024 #65

First of all my post was not in reply to you. doc03 Feb 2024 #66

Of course repugs will line up behind this tax cut JoseBalow Feb 2024 #13

This would be fantastic. It is a huge injustice & slap in the face to retirees. We paid for it thru a TAX... Hekate Feb 2024 #16

The tax on seniors started by St .Reagan. Liberal In Texas Feb 2024 #17

Last I checked the Democrats were in charge of the House the entirety of Reagan's administration. kelly1mm Feb 2024 #20

Good question sammythecat Feb 2024 #21

I'll tell you the argument I heard... haele Feb 2024 #22

So you are saying the Democratic congress fell for that? nt kelly1mm Feb 2024 #29

Everyone was falling for that, along with getting rid of pork barrel spending. haele Feb 2024 #36

The tax revenue from the ss income penalty goes into general revenue Voltaire2 Feb 2024 #45

It was bipartisan. But on the Social Security website... Liberal In Texas Feb 2024 #25

Why has this evolved into a blame game with doc03 Feb 2024 #71

That would save me a couple thousand dollars, I pay the full amount doc03 Feb 2024 #28

Us too TxGuitar Feb 2024 #53

Damn, I do so wish that would pass. Ferrets are Cool Feb 2024 #34

Would have helped me over years, but don't see it happening. Would love to be wrong. Silent Type Feb 2024 #38

The SS tax is a kludge Shermann Feb 2024 #43

It should be eliminated. Voltaire2 Feb 2024 #47

If it gives Biden a win, they'll tank it. spanone Feb 2024 #58

Kudos to Angie Craig maccafan Feb 2024 #64

Probably won't go anywhere because Emile Feb 2024 #68

Angie know this is symbolism. brooklynite Feb 2024 #70