Eliminating Income Tax on Social Security: A Look at the Long-Term
President Trump’s intent to eliminate income taxation of Social Security benefits draws a lot of attention these days, especially among the population segment absorbing the impact of what many have called “double taxation.” As in many of the policy proposals advanced to change Social Security, however, there’s more to it than meets the casual eye. Kent Smetters, Boettner Chair Professor at the University of Pennsylvania’s Wharton School, has led an effort to analyze the proposal and its long-term effects and has contributed an article that models the impact on individual and macroeconomic levels. His conclusions are presented in a brief, which you can access here.