The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Obama on payroll tax||Date: 6/17/2008 10:12 AM|
|Author: SeattlePioneer||Number: 13464 of 19257|
<<One problem with current taxation of SS benefits is the lack of indexing. A rapidly growing segment of even lower middel income recipients have their SS taxed because the calculation uses an income base that hasn't changed since the legislation was enacted. It was only supposed to tax high income recipients.
A word of warning to Congress: don't write or revise any tax legislation without indexing provisions.
Oh, you think things like that happen because of an accident? It's just one of several ways that means testing is already written into Social Security. Another is that the benefits paid are higher per dollar of income for low income people than for high income people.
Expect for more of those kinds of features to be written into the law in the future.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|