Is there any end to government taxation and regulation? It seems like, once a person gets their head above water, the federal government finds a way to push them back under.
This is never more felt than in the area of taxation. Millions of Americans have worked hard all their lives. They’ve persevered to support their families, fighting to achieve the American Dream. Through it all they’ve been heavily taxed on their income, purchases, and property. But at least a portion of that tax was going to Social Security, something they were told would be there for them, come retirement.
Yet by the time Americans reach retirement age, they are hit with another injustice. That Social Security check–already far too small–is hit with another tax! This is money they paid into the system over decades. Money that was taxed from their own paychecks. Only now they are being taxed on it again, when they need the money most.
Thankfully, there are lawmakers who understand so many Americans’ pain. Representative Thomas Massie is actually championing a law that will see an end to this terrible tax.
Rep. Thomas Massie says it’s one of the most popular bills he’s ever sponsored: a proposal enticingly named the “Senior Citizens Tax Elimination Act” that would end taxes on Social Security income.
Many older Americans are shocked, the Kentucky Republican says, to learn they pay federal income tax twice: once as workers on pay diverted into the Social Security system and again after receiving retirement checks. His bill would eliminate income tax on the payout…
About 42 percent of Social Security recipients paid income taxes on some of their benefits in 2016, according to Social Security Administration spokeswoman Nicole Tiggemann, a increase of 2 percentage points from 2015…
“This has been constructed kind of to be a Ponzi scheme. They are scraping money off the payments to make other payments,” Massie told the Washington Examiner. He said eventually most retirees will be hit by what he considers a crafty benefit reduction. [Source: Washington Examiner]
We know that big government is a ticking bomb, ready to explode. For years the federal government has spent way more than it can afford. Bloat government handouts, wasteful agencies, and corrupt politicians have sucked up more than their share of taxpayer funds. It got so bad, they couldn’t even afford to pay out Social Security, without taxing it!
Massie’s plan to end this tax will generate real accountability within the federal government. They won’t be able to spend, spend, spend irresponsibly. They will have to think before they write those massive checks.
Perhaps this bill will be a big step in finally limiting the size of government. In any event, it will ensure our senior Americans hold onto more of their money.