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Author: vargaj Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19371  
Subject: Re: SS taxed twice? Date: 3/31/2000 5:10 PM
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Is your grand mother overlooking the fact that her and her husband's employer paid for half of her social security benenfits and she wasn't taxed on it? Is she complaining about that too?

I personally think that SS should work like an IRA it should be deductible when paying and fully taxable when drawing, but that's not likely to happen soon, but I don't have a problem paying taxes on SS. You get back all you put in in a few years after which it's purely profit. I don't know of any other "investment" where the IRS lets you off the hook.

Your grandmother ought to be glad she's alive and drawing. My brother died last week at the age of 58. I bet he wishes he could pay taxes on his SS.

Joe Varga
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