Wednesday, July 31, 2024

Trump ups the ante with Democrats, proposes eliminating taxes on Social Security benefits paid by senior citizens, which about 40% of them now do, contrary to the original intention of the reforms in 1983


 

 About 40% of people who get Social Security must pay federal income taxes on their benefits.

More.

As originally intended in the 1983 reforms, taxes were designed to affect just 10% of recipients:

By the time the law was first amended in 1993, about 18% of Social Security beneficiaries had some tax liability (compared to about 10% when the law was originally enacted).