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ProSense

(116,464 posts)
23. Reagan
Sun Dec 30, 2012, 02:41 PM
Dec 2012

started taxing Social Security.

The basic rule put in place was that up to 50% of Social Security benefits could be added to taxable income, if the taxpayer's total income exceeded certain thresholds.

<...>

In 1993, legislation was enacted which had the effect of increasing the tax put in place under the 1983 law. It raised from 50% to 85% the portion of Social Security benefits subject to taxation; but the increased percentage only applied to "higher income" beneficiaries. Beneficiaries of modest incomes might still be subject to the 50% rate, or to no taxation at all, depending on their overall taxable income.

http://www.democraticunderground.com/10022096027

Under Obama's proposal the rich will pay a "little bit" more than under Clinton.

New Affordable Care Act tax hike for high earners kicks in with the new year
http://www.democraticunderground.com/10022093669

http://www.taxpolicycenter.org/numbers/displayatab.cfm?Docid=3210&DocTypeID=2

Recommendations

0 members have recommended this reply (displayed in chronological order):

Lindsay Graham has put Sekhmets Daughter Dec 2012 #1
They paid in, the contract should be honored. Downwinder Dec 2012 #2
in theory I agree with you liberal_at_heart Dec 2012 #4
I don't think there is any proposal to end their benefits, Sekhmets Daughter Dec 2012 #11
I'm curious meanit Dec 2012 #29
I think I am slated for age 82. Downwinder Dec 2012 #30
Social Security income is pretty much reclaimed in full from the wealthy. Loudly Dec 2012 #3
What is substantial investment income? n/t Sekhmets Daughter Dec 2012 #12
It is not very much and it is not just investment income but any additional income one might get. Bluenorthwest Dec 2012 #17
I have a modest private pension... Sekhmets Daughter Dec 2012 #24
Wealthy To The GOP Is Anyone Making Over $30,000 A Year TheMastersNemesis Dec 2012 #5
Are there any proposals to reduce the gap between rich and poor? leftstreet Dec 2012 #6
Lot's of proposals for "means testing." Hoyt Dec 2012 #7
I hope not, because there shouldn't be. It's not welfare. lumberjack_jeff Dec 2012 #8
I'm not sure poor people take SS early.... Sekhmets Daughter Dec 2012 #9
my father and father in law both took it early liberal_at_heart Dec 2012 #10
There are always exceptions, of course. Sekhmets Daughter Dec 2012 #16
no, no additional income liberal_at_heart Dec 2012 #18
Whoa... Sekhmets Daughter Dec 2012 #25
They paid into it and are just as much entitled. duffyduff Dec 2012 #13
it's being discussed because they want poor people to starve while the wealthy use liberal_at_heart Dec 2012 #15
Social Security is one of the most popular government programs mythology Dec 2012 #31
Aw, that's sweet but uninformed. First the GOP says YOU are the wealthy. Are you? Bluenorthwest Dec 2012 #14
They pay their membership dues with their SS benefits, and laugh about it. Sekhmets Daughter Dec 2012 #19
They get taxed on it as part of their high income. mainer Dec 2012 #20
Well, Obama only wants them to pay a "little bit" more in taxes forestpath Dec 2012 #21
Reagan ProSense Dec 2012 #23
I hope not. Cleita Dec 2012 #22
Speaking for myself Turbineguy Dec 2012 #26
I'm against anything that chips away at benefits. limpyhobbler Dec 2012 #27
Social Security's technical name... Jeff In Milwaukee Dec 2012 #28
SS is already means tested buzzroller Dec 2012 #32
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