Just thought of this, but delaying taking SS and using tax-deferred distributions both helps diminish the risk of taxation on large RMD distributions at age 72+ but ALSO allows SS to grow and potentially, when taken, can be the time period where Roth distributions can take place to avoid a person's combined income from being too high and most of SS being taxable. I think
If they tax SS benefits are taxable,then maybe welfare should be taxable after someone is on welfare to long and refuse to get a job. I think the taxation of retirement benefits should be Repealed because it’s not enough to live on,considering the rate of inflation. In California a monthly benefit with not even pay the Rent for an Apt. the total income for a couple should be increased to to $65,000.00:a year. Because of the current inflation rate and cost of living. Medicare premiums should along with Rent for housing and utilities should be tax deducable. I along with most retirees feel that sense SS,SSDI,SSI and other retirement benefits are below poverty level. It’s very unfair and immoral to tax them. That’s why I and most feel,if they want to tax the crumbs and 401ks and IRAs then they should tax welfare benefits as well,for those who want to live on welfare and not want to work? Only two years should be allowed to collect welfare benefits tax free. To force welfare recipients to get out and a job and quit living off the tax payers expense.
Those who manage to survive on "welfare" are in the poverty level already and will have a nearly zero taxable income after standard deduction. It is still not enough to live on, considering the rate of inflation. They would feel very wealthy if their income was $65K a year. In California a monthly SS benefit for a person who was stuck in a low income career will not be enough to even pay the Rent for an Apartment. It would be very unfair and immoral to tax them. Perhaps SS spousal benefits should be cut off after 2 years if the spouse never worked for wages. The spouse should be forced to go out and get a job and quit living off the tax payers expense. /s
Just thought of this, but delaying taking SS and using tax-deferred distributions both helps diminish the risk of taxation on large RMD distributions at age 72+ but ALSO allows SS to grow and potentially, when taken, can be the time period where Roth distributions can take place to avoid a person's combined income from being too high and most of SS being taxable. I think
Very informative, thank you!
Maybe Seniors and the disabled should create a Boston Tea Party type protest and tax rebellion?
Great video
If they tax SS benefits are taxable,then maybe welfare should be taxable after someone is on welfare to long and refuse to get a job. I think the taxation of retirement benefits should be Repealed because it’s not enough to live on,considering the rate of inflation. In California a monthly benefit with not even pay the Rent for an Apt. the total income for a couple should be increased to to $65,000.00:a year. Because of the current inflation rate and cost of living. Medicare premiums should along with Rent for housing and utilities should be tax deducable. I along with most retirees feel that sense SS,SSDI,SSI and other retirement benefits are below poverty level. It’s very unfair and immoral to tax them. That’s why I and most feel,if they want to tax the crumbs and 401ks and IRAs then they should tax welfare benefits as well,for those who want to live on welfare and not want to work? Only two years should be allowed to collect welfare benefits tax free. To force welfare recipients to get out and a job and quit living off the tax payers expense.
Those who manage to survive on "welfare" are in the poverty level already and will have a nearly zero taxable income after standard deduction. It is still not enough to live on, considering the rate of inflation. They would feel very wealthy if their income was $65K a year.
In California a monthly SS benefit for a person who was stuck in a low income career will not be enough to even pay the Rent for an Apartment. It would be very unfair and immoral to tax them.
Perhaps SS spousal benefits should be cut off after 2 years if the spouse never worked for wages. The spouse should be forced to go out and get a job and quit living off the tax payers expense.
/s