The End of Taxes on Social Security? #retirementplanning #socialsecurity

Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement

Access the workshop today at this link

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⭐⚠️⭐Please read this⭐⚠️⭐

⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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[dmg]

Congress needs to eliminate their non sense spending. Best formula is to vote these corrupt officials out of office.

[silvergoddess]

Taxing SS is taxing twice. It’s a slap in the face to what is mine. The GOP want to eliminate what is mine as well. I paid into that and was taxed . 🤬🤬🤬

[jtixtlan]

They want people who worked for several decades and who were forced to pay into the retirement system for their retirement to now give their retirement to those who earned less.

[bobdrawbaugh]

Never underestimate the ability of a politician to screw something up.

[SteveKlare-iqzx]

Congressman Massey 4th District of Kentucky. Has introduced a bill to eliminate taxing Social security benefits

[mineofitsown]

I think a flat national sales tax will be optimal because it doesn’t matter who or what as long as you’re buy things that are commodities you’re paying taxes. If you’re only buying things like uncooked/nonserviced food or water you pay no taxes. I think this is ideal because those over consumers will pay more into the system than those who are minimalists and there’s no if ands or buts on whos paying taxes or not.

[richarddonahue]

My father and mother began getting it in 1982. They began taxing it in 1983. Prior to that S/S was not taxed.

[Terry-kdzl]

Stop taxing the retired already.. its enough!

[rhondam]

This law is necessary because the government taxes our social security twice! This will stop the injustice that has been committed on us for years!

[texasstar]

I know how to make everyone happy....NO MORE TAX AT ALL

[mikehicks]

But should social security be available for high income retirees? Democrats want to tax the rich and this would be a perfect way to do it. Normally I would never think this way but again a high income retiree doesn't need Social Security but the person living just on SS surely can't afford that to be cut.

[LumieSoucek-rt]

How much more social security tax can you deduct on people's paycheck? Right now it's 15% already. 15% on Social Security, 35% on fed and state tax, plus medicare and health insurance. How much is left to take home?

[Chiroman]

You are Higher income retirees ? I paid the taxes on that money for over 48 years. As a retirees (the wife and I ) with a small pensions and SS Bennies, have our SS Bennies subject to 85% taxablilty. In other words, 85% of SS Bennies are to be taxable Income. The thresolds of $25K per individual and $32 K for couples is ridiculous- it has bee the same for 40 Years. All SS Bennies should not be Taxable. Pass this new Law ASAP. Raise the upper income thresholds for paying Payroll taxes (The SS Tax) to much higher levels. In fact, recalculate the various lincome levels to be more Progressive... Lower payroll taxes on Income below $100K per annum, and raise those tax scales progressively as the Income threshol;ds are established. Over $100k pe annum, 2% tax, Over $150K, 2.5%, etc. with NO top Thresholds... The OBM can do the calculations so that SS doesn't cease. Stop the Fraudulant Spending of SS benefits !! Like the over $150 BILLION that was swindled from the COVID Funds - never investigated !!

[garypierce]

Make everyone pay the tax on all income...not just the income of ordinary wage earners....problem solved.

[glenncantley]

What should happen, the taxable threshold should have been indexed and moved each year as the CPI moves. The threshold has been regressive and punitive to lower income middle class.

[arthurshingler]

Ok.... so is this new law a good law, or a bad law?
And if it is a bad or poorly written law.... then what's a "better" law, to accomplish their goals? What are those goal?

[josiahcopejr.]

hello devin, I have a question for you, it's about a previous video that I watched in regards to being on disability and becoming at age for being eligible for retirement, my question is are disability funds separate from retirement funds? or once you are on disability and receiving those funds is that all the funds you get for the rest of your life?

[Orlando_Steve]

High earners will say FU and start an S-Corp.

[laura]

They need to stop taxing SS . That is teaching twice.
We also need to be able to work without penalizing us if not 70. 65 to 70 should be able to work without taking $1 for every $2 you make and caping that amount each year. If you figure it out what you make per month will be taxed and taken.

[waynevictory]

We should stop all employment taxes and social security should never be taxed as this is money that was taken by force by the federal government with a guarantee to the citizens that iif they become disabled or reach retirement age they would receive a set amount of money and health benefits till they die.