Trump: No taxes on Social Security

You completely misunderstood what I said, and it must surely have been intentional. Everything I said was FACTUAL, including the fact that "means-testing" is an odious scam designed to cheat people out of EARNED benefits.

And, it is absolutely bewildering that you could possibly think that I'm an advocate of the wealthy paying little or nothing in taxes, because of all the unfair advantages they have in the U. S. Tax Code.

I would ask you what you are in favor of, but if it's that only the middle-class citizens of this country should pay income taxes, then honestly I don't want to hear it. We get enough of that crap from our existing major political parties as it is.

 

if Republicans refuse to raise the cap on Social Security soon, cuts will be coming to the payouts and that is what Republicans want

 

Well, the 'Crats have had the White House and the Senate in their power for years now -- so why do you never see them doing anything to help retired people on Social Security? 'Crats pay a lot of LIP SERVICE to helping people on Social Security, but, like the 'Pubs, they don't actually DO anything. And neither party actually DOES anything about getting rid of all the loopholes, tax shelters, exemptions, and deductions for the super-wealthy in the U. S. Tax Code, either. Think about it.

 

Can you point me out where it says that fica taxes are being whittled down by tax deductions?

 

they have not controlled Congress unfortunately

 

When 'contributions' from individuals are artificially "capped" -- as they are at $168,800 in 2024 -- it reduces the amount of tax that is withheld. How can you not see that? Meanwhile, people who make less than $168,000 per year are taxed fully. And when they retire, their EARNED Social Security benefits are taxed again if their annual income exceeds an arbitrary amount.

Clue: the 'cap' should be removed entirely so that those who earn much more in working income pay a full, fair share. AND, when it comes time to pay people their EARNED retirement SS benefits, they should be paid fully -- without the SECOND TAX because of personal earnings.

The takeaway: it's not the government's ****ing concern what your income is in retirement. You have EARNED your Social Security payout, and it should be PAID OUT according to the same agreement and scale that your 'contributions' were taken out of your paycheck by the government all during your working life, and not (NOT) taxed a second time!

 

yes, we need to raise the caps, if people that make under 168k a year can pay the ss tax for every dollar they earn, so can the rich pay it up to 400k a year

 

Deductions and income are two separate bananas under the code. Social Security Tax Deductions came about in 1950s with the FICA and SECA acts that was passed by Congress and signed by President, Eisenhower. That is when the first W2s came into existence. The first W2 was in 1954, I believe. Before 1983,. SS taxes went into the general fund. From 1983 onward, it went into the SS Trust Fund because we knew about the Baby boomers retiring in droves later in life. That is when the pay as you go system was established.

 

That is generally the case if your soul sorce of income is SS. But I will guarantee that you SS paycheck is either at the minimum or average amount in that year, which is not that much given how expensive it is to live in our society. Hence the dual problem.

 

It's called bribery. A ploy not punishable in Politics but often outside.

 

If the government wants revenue of social security payments, then they should just reduce the payments. But the reality is that government will do what it wants to do regardless of tax revenue. We know that solidly.

 

They need to close all the cabinet departments except for Defense, State, Homeland Security, Treasury and Justice. The constitution assigns them to the states.