Taxes on Social Security
Does Trump’s Plan to end Taxes on Social Security Benefits Make Sense?
Income taxes paid on Social Security benefits are an important source of revenue for the Social Security Trust Fund. As much as President Trump would like to alleviate this burden on Social Security recipients, Social Security can not afford to…
Effect of Eliminating Taxes on Social Security Benefits
It’s true that no longer paying federal taxes on Social Security benefits would put more money in Senior’s pockets. However, what would the impact be on Social Security if this avenue of income stopped coming in to the Trust Fund.…
Trump’s Plan to Eliminate Federal Income Tax on Social Security Benefits Rings Big With Many
Despite its impact on Social Security’s precarious financial position, Presidential candidate Donald Trump struck a positive chord with Wall Street Journal poll participants with this idea. 83% of those polled favored the move–a tax that impacts about half of all…