UnThreaded | Threaded | Whole Thread (29) | Ignore Thread Prev | Next
Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81641  
Subject: Re: Roth taxable now??? Date: 8/5/1998 11:52 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
<<You may be right, but the argument against taxing SS income is that it was already taxed once, any tax at all would be double taxation. Simple fairness requires that SS either not be taxed when received or deductible when withheld. Not that I see either as likely in the near future

Also, taxes received from taxing SS income go into the general fund whcih is overflowing at least for now. It will not help the SS or Medicare problems which are getting worse each day.

Joe Varga >>

[[OMIGIOD! Is USENET crossposting to the MF now? I'm so excited that my hands are shaking!]]

1) Joe, since when have the words "fairness" and "tax" gone together? Not to mention the words "logical" and "tax system". For a real-world example of double taxation, one need look no further than the double taxation of stock dividends. And don't even get me started on the taxation of illusory gains due to inflation.

2) The only reason the general fund is "overflowing" right now is precisely *because* of the SS tax. If it was going into a separate account, like it is supposed to, there would not be a surplus at all.


Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (29) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.