Social Security Tax

Stop the Social Security Double Tax,

And Legislative Double Talk

While there are many taxes I would like to eliminated, perhaps the tax that makes least sense is the “double” tax on Social Security benefits provided to the elderly and disabled. 

It’s an old story, one that does not have a happy ending for those living on fixed Social Security income.

During our entire lives we all pay a Social Security Tax on our wages.  Social Security taxes are taken from every pay check we earn throughout our working lifetime.  We are told that each successive generation pays the taxes for the previous generation of Social Security recipients.

During the Bush administration we all heard of the drama surround the fears of a failing Social Security System and the dwindling and/or lack of sufficient funds.

When the time arrives to collect Social Security benefits, either when we become physically disabled or reach 65 years of age, our government requires us to pay taxes again on the taxes we already paid.

Consequently, we continue to pay a 2nd or double tax on our Social Security benefits.  Why?

When confronted, Legislators in Washington merely nod their heads in acknowledgment of the tax and do nothing to change it.  Most already know about the “double tax”, but they permit the tax to continue.

Some say that while we already have paid Social Security Taxes, those taxes we draw from as recipients become income, and as income must then be taxed.  Is this reality, or merely legislative double talk?

The full amount of Social Security provided to those eligible citizens is not enough to live on, yet still there is a tax on it.

In addition, many make the case that since people have paid taxes their entire lives they should be able to live tax-free once they reach the age of 65.

Taxes on Social Security are even higher when recipients file a joint IRS tax return.  The combined total income of the joint filers determines how much tax there is on Social Security income.  Many believe that Social Security income should not be taxed at all.

Especially during our nation’s difficult current economic struggle and also since we were notified recently that there will be no Cost of Living Adjustment (COLA) during Year 2010 for those on Social Security benefits, the federal government should stop taxing them.  Elderly and disabled Americans need their FULL Social Security benefits without further oppressive taxation.

In conclusion, the fact that SS benefits unreasonably are being taxed twice makes this the tax I would like to see eliminated.

It is time to stop the double tax on Social Security benefits!