Donald Dumb the Creep is trying to salvage his crumbling campaing by saying he'll lower taxes on everyone. He started out with the rich who, though they fund his campaign, aren't too many to sway the vote numbers.
He then said he'll eliminate the tip tax, assuming that since tips go to the younger generation slaving as waiters during the summer tourist season, he'll garner their votes. But the younger generation hates him for the creepy racist imbecile that he is, and the money they make from waiting on tables isn't worth taxing anyway. That failed to catch too.
He now is after seniors on social security. In the past he said many times, prodded by his right-wing finance lobbyists who want to steal the social security lockbox, that he wants to eliminate the program altogether. Without paying the social security tax, seniors either don't save enough for their old age or whatever money they save goes to big finance scammers who trade the money in the marekt and lose it just as happened in 2008.
I am a retiree on social security, and am proud to pay the little tax on my social security income because it keeps me part of the economic engine, and it's only fair to the younger generation whose work feeds the social security fund. Donald Dumb's ridiculous and pathetic attempts at stripping segments of the electorate off the smart, intelligent and effective Harris-Walz ticket, reek of not well-thought through idiotic opportunism that never catches on. Social Security has been the most successful federal program ever since its inception in 1935, almost a century ago. Every other country has a form of social security, and it has lifted the lives of millions of retirees all over the world. So please don't come anywhere near it. I am happy paying my taxes on my social security income; it's the least I can do to continue contributing financially to the country that gave me so much.
Mr. Donald Dumb and your weird poodle Vance (not his real name) are like Saint Rocco and his dog, or like Don Quixote and his Sancho Panza sidekick. Now that we are pretty sure you will lose in November, we like you to stay on the campaign just to provide the entertainment. Keep your burlesque show going and let the serious people do their job managing the country. Stay in your corner dedicated for the dunces in the class and play with your toys, and leave the rest of us alone.
The economist for the Fox Business Network who is quoted below is one of those scammers who want to gamble with retirees' money.
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Former President and current presidential candidate Donald Trump’s proposal to eliminate federal taxes on Social Security income has sparked a fresh wave of discussion among economists and senior voters.
During an appearance on Fox Business Network, economist Steve Moore – co-founder of the Committee to Unleash Prosperity – echoed Trump's sentiment. “The system right now punishes you if you continue to work,” Moore stated. “You have to pay income taxes, you’re gonna have to pay death taxes when you die, and you’re gonna have to pay a tax on your Social Security benefits. So, often, seniors are paying taxes on their income of over 50%. And so, I think Trump is onto something here.”
Many argue that the current tax system is harsh on older Americans who choose to remain in the workforce. According to Moore, Trump's idea to eliminate Social Security taxes is a politically savvy move. He says reducing the tax burden could encourage more seniors to stay employed.
Social Security benefits can be subject to federal income taxes, depending on a retiree's overall income. According to the Social Security Administration, if your combined income is between $25,000 and $34,000 (for individuals), you may have to pay income tax on up to 50% of your benefit. If the combined income is more than $34,000, individuals could pay income tax on up to 85% of their benefit.
Those numbers are a little different for spouses filing a joint return. With a combined income of $32,000-$44,000, they could pay tax on up to 50% of their benefit and 85% if the combined income is over $44,000.
For this purpose, seniors' combined income is defined as their adjusted gross income, nontaxable interest, and half of their Social Security benefits.
While it's understandable that seniors would appreciate less taxes and that many feel this is an undue burden on our senior population, others say that Trump's proposal to cut Social Security taxes is fiscally irresponsible and would cause more harm than good.
Garret Watson, a senior policy analyst at the Tax Foundation, wrote that "exempting Social Security benefits from income tax would increase the budget deficit by about $1.6 trillion over 10 years, accelerate the insolvency of the Social Security and Medicare trust funds, and create a new hole in the income tax without a sound policy rationale."
As the 2024 presidential race ebbs nearer, Trump's proposal will likely be a significant talking point, especially among senior voters who make up a sizable voting bloc. For seniors, the prospect of reduced taxes may be appealing. However, as with all tax policies, the devil is in the details. Voters must weigh the immediate financial relief they'd receive against the long-term sustainability of this and other essential programs for seniors.
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