President Trump Announces New Policy Proposal
- No Taxes on Social Security for Seniors
Conservative Treehouse,
by
Sundance
Original Article
Posted By: Mercedes44,
8/1/2024 7:06:45 AM
This is a very significant policy proposal. President Trump is supporting a position that Seniors should not pay taxes on Social Security income.This comes on the heels of President Trump supported policy that income received from service tips should not be taxed.
Combined, both of these policies would result in massive numbers of middle-class Americans having more money in their bank accounts. The national economic benefits of these two combined policies are extremely significant and could actually offset the financial damage done by Joe Biden.
The timing of this announcement coincides with President Trump visiting Chicago.
SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!
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Reply 1 - Posted by:
Californian 8/1/2024 7:09:03 AM (No. 1770395)
But but but the left told me Trump is trying to kill social security!
61 people like this.
Reply 2 - Posted by:
franq 8/1/2024 7:27:34 AM (No. 1770412)
I saw a suggestion on another site: no property taxes for those over 65.
That would help us seniors.
74 people like this.
Reply 3 - Posted by:
snakeoil 8/1/2024 7:50:25 AM (No. 1770427)
Am not an authority on American history. But, I believe at one time there was no federal tax on SS. Then, Quid Pro Joe, when he was floating in the senate's cesspool got a 50% tax on SS. Then it was raised to the current 85%. To me it's a double taxation. First, when you were working full time you were taxed on your income. Second, after you retire you are taxed on your SS benefits. Of course I am happy when my tax bill goes down but I really hate filling out form 1040. (Are you a member of Railroad whatever. If so divide the amount on line 18J by the square root of the number of dogs under your porch.) Make America Affordable Again.
57 people like this.
Reply 4 - Posted by:
msjena 8/1/2024 8:02:47 AM (No. 1770433)
Social Security deductions are after tax. That means the income tax is a double tax.
54 people like this.
Reply 5 - Posted by:
Rumblehog 8/1/2024 8:11:04 AM (No. 1770436)
AMAZING! This is exactly what is needed to turn the heads of the Democrat voting CNN watchers in Blue districts. Let the Democrats stew over that one for awhile... such a novel concept' giving TAX BREAKS to citizens!
I understand he is also considering doing the same thing for Veteran retirement and disability income.
46 people like this.
Reply 6 - Posted by:
hisself 8/1/2024 8:17:34 AM (No. 1770440)
Yes!!! I paid, and still am paying, taxes on the money that went into Social Security. Now that I am getting it back, I am taxed on it again. At 80, I am still working, and my taxes are overwhelming. If taxes on my SS (about $5,000) are removed, maybe I can actually have a chance to catch up.
I just figured that the taxes on my SS are about 2-3 months of my SS payments.
40 people like this.
Reply 7 - Posted by:
hershey 8/1/2024 8:30:09 AM (No. 1770447)
Yep, it used to be tax free, then the demosluts got their hands in the till, again...not to mention they moved the $$ out into some general fund so they could buy more votes with the money...if they hadn't done that, SS would still be solvent...
44 people like this.
Reply 8 - Posted by:
Mushroom 8/1/2024 8:33:12 AM (No. 1770448)
The idea behind the 50% was a tax on your employer's contribution. So the 85% (over a certain threshold) was so the government could take any 'windfall', because Lord knows , government knows better ways to spend money than we mere plebs!
32 people like this.
Reply 9 - Posted by:
red1066 8/1/2024 8:59:27 AM (No. 1770466)
Biden voted to tax Social Security benefits when he was a Senator.
46 people like this.
Reply 10 - Posted by:
LadyVet 8/1/2024 9:17:50 AM (No. 1770478)
I think it was Bill Clinton who first started taxing Social Security. It was a very harsh tax for seniors who still needed to work or were capable of working. Many owners of small family businesses were hit hard by this tax.
32 people like this.
Reply 11 - Posted by:
vhs68 8/1/2024 9:39:51 AM (No. 1770496)
For #10. Bill Clinton was the President who increased moving 50% of your Social security income into the taxable column to 85% into the taxable column. Slick Willie for sure.
30 people like this.
Reply 12 - Posted by:
Kate318 8/1/2024 9:40:32 AM (No. 1770498)
Brilliant, Mr. President.
24 people like this.
Reply 13 - Posted by:
Delilah 8/1/2024 9:47:40 AM (No. 1770507)
It was Clinton who promised to tax SS only on high earners. HA! I was making a little under 40k and with my husband's retirement money we were over 40k and had to pay on his SS. Turned hubby Republican.
30 people like this.
Reply 14 - Posted by:
DiegoDude 8/1/2024 9:50:46 AM (No. 1770511)
Works for me. Now, get the IRS out of my paycheck or drastically reduce their take.
23 people like this.
Reply 15 - Posted by:
udanja99 8/1/2024 9:52:19 AM (No. 1770513)
#’s 10 and 11 reminded me that Clinton stated that he could return that money to the tax payers but they might not spend it the right way while giving it to the government would insure that it was spent the right way. It was one of those occasions when the outrage should have destroyed him, but the media did their job of shoving it down the memory hole.
33 people like this.
Reply 16 - Posted by:
DVC 8/1/2024 10:31:09 AM (No. 1770558)
It will be popular for those who are living only on SS. A lot of us aren't as financially strapped, so it won't be a big financial deal.
Seems sensible, basically the government hands out $1,000 in SS and then takes back $250 later. Stupid idea, but SS is a total scam, always has been, so fiscal sanity isn't actually any part of the deal.
19 people like this.
Reply 17 - Posted by:
DVC 8/1/2024 10:35:18 AM (No. 1770565)
Duplicate post.
5 people like this.
Reply 18 - Posted by:
Cousair 8/1/2024 10:46:37 AM (No. 1770575)
Great proposal Mr President, but if only to the workers that have CONTRIBUTED to the Social Security pot.
32 people like this.
Reply 19 - Posted by:
padiva 8/1/2024 11:08:59 AM (No. 1770595)
#18 Great thought!
16 people like this.
Reply 20 - Posted by:
NYbob 8/1/2024 12:28:08 PM (No. 1770663)
Good idea, but now I have the rest of the day to try and erase the memory of the slob Clinton raising SS tax.
19 people like this.
Reply 21 - Posted by:
Lucky5 8/1/2024 1:03:24 PM (No. 1770701)
That should have been done decades ago! We already paid our taxes on that money.
20 people like this.
Reply 22 - Posted by:
mifla 8/2/2024 6:08:39 AM (No. 1770992)
Not a fan of vote buying, but this is double tax that should be eliminated.
We are taxed to death so the government can go on drunken spending sprees.
16 people like this.
Reply 23 - Posted by:
Dodge Boy 8/2/2024 8:53:35 AM (No. 1771103)
Makes obvious sense. Having paid SS taxes my entire working lifetime only to pay tax on my SS income which is my money in the first place, is double taxation.
13 people like this.
Reply 24 - Posted by:
cor-vet 8/2/2024 9:54:50 AM (No. 1771159)
SS and all the taxes, and tax increases on SS income, is on the dems, starting with FDR, if I remember my history. Of course, at 81, my memory is not the best.
11 people like this.
Reply 25 - Posted by:
Zigrid 8/2/2024 10:29:24 AM (No. 1771195)
Good move...as the swamp tries to peddle the social security scare...again...and again...note to all conservatives...stop trying to change President Trump's approach...let Trump be Trump....he knows what he's doing and trying to second guess his moves is a waste of time...WE love him for who he is...a fighter..God bless America....
15 people like this.
Reply 26 - Posted by:
mc squared 8/2/2024 10:44:35 AM (No. 1771211)
Just a reminder, your employer doesn't 'contribute 50% into your SS: You do. The employer's loaded cost for an employee includes salary, insurance, supplies, office space, perks, AND the 50% you don't see.
That comes off your paycheck.
10 people like this.
Reply 27 - Posted by:
NotaBene 8/2/2024 12:16:51 PM (No. 1771303)
Income redistribution for those that earned it. Thamk you Mr. President.
8 people like this.
This is pandering for votes, although I remain steadfast in voting for Trump.
1 person likes this.
Reply 29 - Posted by:
MickTurn 8/2/2024 1:22:33 PM (No. 1771401)
I've always wondered why our paychecks withholding and our employers matching amount went into our ''Account'' and I never got one penny in Interest on the money IN OUR ACCOUNT over the years we worked prior to retirement. Talk about a SCAM!!!!!!! Then we have to pay Taxes on the money when we get it back. I don't care that the money was deducted PRIOR to Income Tax being taken out, because the INTEREST WE WERE NOT PAID was more than the Income tax would have been...
4 people like this.
Reply 30 - Posted by:
anniebc 8/2/2024 9:20:43 PM (No. 1771613)
How about the rest of US?
1 person likes this.
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