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Author Topic: Trump proposes eliminating taxes on Social Security benefits for seniors  (Read 933 times)

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Online mystery-ak

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Trump proposes eliminating taxes on Social Security benefits for seniors
« on: July 31, 2024, 12:57:49 pm »
Trump proposes eliminating taxes on Social Security benefits for seniors
By
Zachary Halaschak
July 31, 2024 12:04 pm
.

Former President Donald Trump on Wednesday said that seniors shouldn’t pay taxes on Social Security, a departure from decades of tax policy.

Trump made the announcement on his Truth Social platform. He wrote: “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!”

Social Security can be claimed starting at age 62, although benefits increase the longer one waits to claim them, with benefits capping out at a retirement age of 70.

The taxation of Social Security began in 1984 with legislation signed by President Ronald Reagan. Seniors receiving Social Security income pay taxes on 50% of their income from the program, and in some cases, as high as 85% if their combined income from other sources pushes them above a certain threshold.

Seniors are a key demographic that Trump needs to win the election. His Social Security proposal comes soon after he also made an appeal to hospitality workers by calling for an end to taxation of tips.

more
https://www.washingtonexaminer.com/news/campaigns/presidential/3105887/trump-proposes-eliminating-taxes-on-social-security-benefits-for-seniors/
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Offline kevindavis007

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #1 on: July 31, 2024, 05:59:25 pm »
Why didn't he do it the first time?
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Offline Hoodat

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #2 on: July 31, 2024, 08:04:40 pm »
Quote from: kevindavis007 on July 31, 2024, 05:59:25 pm
Why didn't he do it the first time?

The same reason he didn't end Obamacare or build a wall.
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Offline kevindavis007

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #3 on: July 31, 2024, 08:54:47 pm »
Quote from: Hoodat on July 31, 2024, 08:04:40 pm
The same reason he didn't end Obamacare or build a wall.


Like being an a** to people and being shocked that things get done?
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Join The Reagan Caucus: https://reagancaucus.org/ and the Eisenhower Caucus: https://EisenhowerCaucus.org

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Offline Weird Tolkienish Figure

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #4 on: July 31, 2024, 09:04:14 pm »
There's also the huge budget deficit issue.... hate to be *that guy*.
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Offline Hoodat

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #5 on: July 31, 2024, 09:13:48 pm »
Quote from: Weird Tolkienish Figure on July 31, 2024, 09:04:14 pm
There's also the huge budget deficit issue.... hate to be *that guy*.

It is mathematically impossible to cover current spending levels through taxation.  If you want to deal with the deficit, you can only do that by cutting spending.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Online IsailedawayfromFR

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #6 on: July 31, 2024, 10:55:11 pm »
Quote from: Hoodat on July 31, 2024, 09:13:48 pm
It is mathematically impossible to cover current spending levels through taxation.  If you want to deal with the deficit, you can only do that by cutting spending.
Amen.

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Offline cato potatoe

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #7 on: August 01, 2024, 12:11:45 am »
Quote from: Weird Tolkienish Figure on July 31, 2024, 09:04:14 pm
There's also the huge budget deficit issue.... hate to be *that guy*.

If Trump wins, we are likely to see four consecutive deficit years in the range of $2.5-3 trillion.  He wants to extend and expand on his 2017 tax cuts without any spending reductions.
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Offline Smokin Joe

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Re: Trump proposes eliminating taxes on Social Security benefits for seniors
« Reply #8 on: August 02, 2024, 05:29:59 am »
Quote from: Hoodat on July 31, 2024, 09:13:48 pm
It is mathematically impossible to cover current spending levels through taxation.  If you want to deal with the deficit, you can only do that by cutting spending.
THIS!  pointing-up

One way to do that is to reduce the size and scope of government. With the SCOTUS ruling against agencies making law, that should be easier than ever. If you can't fire them, just relocate their offices to Point Barrow, AK and give them the option of resigning. (Point Barrow makes North Dakota winters seem mild).
« Last Edit: August 02, 2024, 05:31:57 am by Smokin Joe »
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