SOCIAL SECURITY TAX RIPOFF OF SENIORS

FOR OVER 30 YEARS SOCIAL SECURITY RECIPIENTS HAVE BEEN TAXED ON THEIR SOCIAL SECURITY.

THE TAXATION OF SOCIAL SECURITY INCOME WAS FIRST PROPOSED BY JIMMY CARTER (ONE OF THE LIBERAL CHAMPIONS OF LOWER INCOME CITIZENS) THERE IS A TAX INCOME THRESHOLD WHERE SOCIAL SECURITY BENIFITS BECOME TAXABLE, THIS INCOME THRESHOLD INCLUDES A TOTAL OF ALL INCOME INCLUDING NON TAXABLE INCOME AND SOCIAL SECURITY. A SINGLE PERSON WITH TOTAL INCOME OF OVER $25,000 AND MARIED FILING JOINTLY AND HEAD OF HOUSEHOLD CITIZENS WITH A TOTAL INCOLME OF OVER $32000 TRIGGERS THE SOCIAL SECURITY TAX. THESE THRESHOLD HAVE REMAINED THE SAME FOR OVER 30 YEARS. FOR 30 YEARS I HAVE HAD TO TRY TO EXPLAIN TO MY TAX CLIENTS WHY THEIR SS WAS TAXABLE. PEOPLE WITH A MODEST PENSION OR OTHER RETIREMENT INCOME ARE GETTING THE SHAFT ON THEIR TAXES. I HAVE BEEN PLEADING FOR YEARS TO SEVERAL MEMBERS OF CONGRESS-BOTH REPUBLICAN AND DEMOCRAT TO RAISE THE INCOME THRESHOLD TO $200,000 BUT THEY ALL SEEM TO CONSIDER INCOME OF OVER $32,000 PER YEAR AS AFFLUENT DESERVING TO BE TAXED. I AM CONTINUING THIS YEAR SENDING LETTERS TO EVERY CANDITATE FOR PRESIDENT TO INCREASE THE DAMN TAX THRESHOLD. I USUALLY GET A FORM THANK YOU LETTER IN RETURN BUT I WONDER HOW MANY, IF ANY OF THESE POLITICIANS EVER SEE MY LETTERS. SENATORS SCHUMER AND GILLABRAND OF NY DON'T EVEN BOTHER TO RESPOND WITH A FORM LETTER, THE SAME GOES FOR SENATORS KERRY, REID, BOXER AND OTHERS AS WELL AS SEVERAL MEMBERS OF CONGRESS PELOSI, TONKO ETC. I WOULD LIKE TO GET A LETTER WRITING CAMPAIGN GOING, THE MORE LETTERS THE BETTER. TELL THESE POLITICIANS TO START DISPLAYING THEIR EXPRESSED CONCERNS ABOUT THE LOWER MIDDLE INCOME TAX PAYERS.

The income tax rip off of Social security security benifits is becoming more apparant with further study.

The income tax software that I have access to has a feature called a what if worksheet where I can get a comparison of the tax iability of various scenerios on a tax return that has already been completed and all I hve toi do is delete the taxable Social Security income in the 'what if" column to find out the dollar decrease in tax for the individual completed return. The tax increases vary for $110 to $10,800. these scenarios cover total income range of from $20,000 to $90.000. most of the tax decreases fall in the $1500-$2600 range.

The most observation I have made in these comparisons is that the tax decreases fall in to the 45%-52% rangfe of the tax liabilities created when including taxableSS which translates to fact that SS recipients are sufferring a doubling of their tax liabilities from thisw one item alone. There are no involved or sophisticated mathematical calculations involved. Just the removal of social security income from the tax calcualtion. simple uncomplicated arithmetic which can be done in a few minutes and gives the taxpayer something to write their members of congress about. And don't be afraid to let them know that this "rip off" makes you angry.

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william uthe April 19, 2012 at 12:44pm

The income tax rip off of Social security security benifits is becoming more apparant with further study.

The income tax software that I have access to has a feature called a what if worksheet where I can get a comparison of the tax iability of various scenerios on a tax return that has already been completed and all I hve toi do is delete the taxable Social Security income in the 'what if" column to find out the dollar decrease in tax for the individual completed return. The tax increases vary for $110 to $10,800. these scenarios cover total income range of from $20,000 to $90.000. most of the tax decreases fall in the $1500-$2600 range.

The most observation I have made in these comparisons is that the tax decreases fall in to the 45%-52% rangfe of the tax liabilities created when including taxableSS which translates to fact that SS recipients are sufferring a doubling of their tax liabilities from thisw one item alone. There are no involved or sophisticated mathematical calculations involved. Just the removal of social security income from the tax calcualtion. simple uncomplicated arithmetic which can be done in a few minutes and gives the taxpayer something to write their members of congress about. And don't be afraid to let them know that this "rip off" makes you angry.

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