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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Future of retirement Date: 9/18/2011 11:37 PM
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Watty56 posts,

To make this stealth means testing even more extreme the lower income people will likely not have to pay any taxes on their social security check but higher income people will likely have to pay taxes on 85% of their social security check so that in the above example the person who was making $150K a year might get a social security check that is 25% larger than someone who made $75K a year, but they will likely have higher retirement income so after they pay taxes on 85% of their social security check they might easily have less after tax social security income than the person who made half as much. For an explanation of how social security is taxed see this link;

http://www.bogleheads.org/wiki/Taxation_of_Social_Security_b......

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I favor taxing 100% of all Social Security benefits. That will prevent people from complaining that their monthly benefit is partially taxed.

intercst
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