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Happy Hoosier

(9,585 posts)

16. Why stop it at $750K?

Fri Sep 5, 2025, 11:05 AM

Sep 2025

If we are going to have an expemption, I favor the the donut hole, where high earners between, say $200K and $400K don't pay additional taxes, but earners OVER that, pay addtional on any amount over $400K. That let's the lower end of "high earners" to leverage the savings for stuff like college savings, or personal retirement savings, but the very high earners are contributing significantly more.

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Senator introduces bill to eliminate taxes on Social Security benefits [View all] BumRushDaShow Sep 2025 OP

Great, except . . . . no_hypocrisy Sep 2025 #1

they can only do so much when Repubs are in power and fucking things up-- but removing the earnings cap LymphocyteLover Sep 2025 #2

This message was self-deleted by its author Wiz Imp Sep 2025 #26

baby steps* Native Sep 2025 #5

Unless it's massive tax cuts for the uber wealthy and Corporations. That took no time at all. Bengus81 Sep 2025 #9

Or a Trump administration with a Republican House and Senate and right wing SCOTUS. KPN Sep 2025 #20

i'm talking about real change, not criming. Native Sep 2025 #23

Uhhh....I watched Elon and Big Balls do it within days. nt intrepidity Sep 2025 #28

Lifting the cap puts more money into the SS fund tinrobot Sep 2025 #7

Good point Raven123 Sep 2025 #10

He also proposed raising the FICO tax cap. Happy Hoosier Sep 2025 #14

Thank you Senator Gallego! FakeNoose Sep 2025 #3

The GOP are such 2 faced liars Farmer-Rick Sep 2025 #4

Fine, but it's a band-aid on the soon to crash dollar as world currency. nt Festivito Sep 2025 #6

Does it mean payroll taxes up to $250K of income? That part makes no sense. Bengus81 Sep 2025 #8

The cap allows people to stop FICA tax deductions when the ceiling is met JohnnyRingo Sep 2025 #13

You misunderstand the question... Happy Hoosier Sep 2025 #15

I usually try to include it in the OP comments if it is there at post time, but here a part of Gallego's press release BumRushDaShow Sep 2025 #21

Ah, I see. I like that plan. NT Happy Hoosier Sep 2025 #22

I get that it would raise the ceiling on FICA earnings, and that's great. JohnnyRingo Sep 2025 #24

Social Security was never meant... SickOfTheOnePct Sep 2025 #25

It's a pretty high bar before you have to pay taxes. JohnnyRingo Sep 2025 #34

$32,000 for a couple filing jointly... SickOfTheOnePct Sep 2025 #35

Then I see .... JohnnyRingo Sep 2025 #39

You're missing the point SickOfTheOnePct Sep 2025 #40

"if someone is living on Social Security they already pay no income taxes" BumRushDaShow Sep 2025 #33

Exactly! SickOfTheOnePct Sep 2025 #36

Cards on the table... JohnnyRingo Sep 2025 #37

Thankfully here on PA I don't have to pay state income tax on my retirement BumRushDaShow Sep 2025 #38

I have mixed feelings on this. JohnnyRingo Sep 2025 #11

Your "combined income" has to be pretty low to not be taxed at all. Happy Hoosier Sep 2025 #17

Yep. It's not that I don't pay taxes on my SS and tiny widow's fed employee pension. I have to file every year. Attilatheblond Sep 2025 #27

I'll probably be working part time till the day I drop Kaleva Sep 2025 #31

Raise it to the first $750,000 earned by higher earners. ProudMNDemocrat Sep 2025 #12

Why stop it at $750K? Happy Hoosier Sep 2025 #16

Read my post. My ideal dream would be to eliminate the Earned Income Cap all together. ProudMNDemocrat Sep 2025 #18

I like that he is pushing this bill out there and giving it a title that might stick. travelingthrulife Sep 2025 #19

He might want to consider relooking at the threshold where you start karynnj Sep 2025 #29

This won't help the poorer SS recipients one bit Kaleva Sep 2025 #30

How about eliminating FICA taxes on us seniors who still have to work? Kaleva Sep 2025 #32

I misread this as "Senator introduces bill to eliminate Social Security benefits" Polybius Sep 2025 #41