SuzukiSavage.com /cgi-bin/YaBB.pl General Category >> Politics, Religion (Tall Table) >> I will get caught..... /cgi-bin/YaBB.pl?num=1520615611 Message started by raydawg on 03/09/18 at 09:13:31

Title: I will get caught..... Post by raydawg on 03/09/18 at 09:13:31 I will be retiring soon, and yes, I will pay higher taxes, for a number of reasons, here is just one: The problem for older taxpayers is the fact that these income thresholds have never been adjusted for inflation.  When Congress first enacted the tax on Social Security in 1983, it was estimated to affect only 10 percent of Social Security recipients.  Today, the taxation of benefits hits almost everyone with any income in addition to Social Security benefits —even people with the most modest of bottom lines.  An older couple with $32,000 is living at just 155% of the federal poverty level.  Had the income thresholds been adjusted for inflation since 1983, the $25,000 threshold (individuals) would be $61,940 this year and the $32,000 threshold (joint) would be $79,284. My wife and I make too much money, plain and simple, and as shown above, are constrained by outdated restrictions of earnings. However, our expenditures will go down substantially, as well, so.... I think it might be more of a push, even at adjusted levels, sorta, we would exceed that income, by a wide margin, but that's ok, I am willing to do whatever I can to help provide a better solution for more to be able to have a better life. Even if we go the "long form" with itemizing, etc, it all pretty much ends up around the same numbers, it just takes a lot of energy to get there!  HAHA. I will salute Old Glory, as I cut a check, I only ask, spend it wisely  ;D

Title: Re: I will get caught..... Post by LANCER on 03/12/18 at 21:14:20 7E6D75686D7B6B0C0 wrote: I will be retiring soon, and yes, I will pay higher taxes, for a number of reasons, here is just one: The problem for older taxpayers is the fact that these income thresholds have never been adjusted for inflation.  When Congress first enacted the tax on Social Security in 1983, it was estimated to affect only 10 percent of Social Security recipients.  Today, the taxation of benefits hits almost everyone with any income in addition to Social Security benefits —even people with the most modest of bottom lines.  An older couple with $32,000 is living at just 155% of the federal poverty level.  Had the income thresholds been adjusted for inflation since 1983, the $25,000 threshold (individuals) would be $61,940 this year and the $32,000 threshold (joint) would be $79,284. My wife and I make too much money, plain and simple, and as shown above, are constrained by outdated restrictions of earnings. However, our expenditures will go down substantially, as well, so.... I think it might be more of a push, even at adjusted levels, sorta, we would exceed that income, by a wide margin, but that's ok, I am willing to do whatever I can to help provide a better solution for more to be able to have a better life. Even if we go the "long form" with itemizing, etc, it all pretty much ends up around the same numbers, it just takes a lot of energy to get there!  HAHA. I will salute Old Glory, as I cut a check, I only ask, spend it wisely  ;D Wishful thinking.   8-)

SuzukiSavage.com » Powered by YaBB 2.2! YaBB © 2000-2007. All Rights Reserved.