To: President Donald Trump
A TAX-FREE Social Security
Replace the Social Security TAXABLE deduction with a TAX-FREE CONTRIBUTION (like an IRA) and increase or eliminate the base limit.
To cover reduced tax revenues, eliminate tax giveaways and loopholes.
To cover reduced tax revenues, eliminate tax giveaways and loopholes.
Why is this important?
Reduce taxes, improve the economy and better provide for Social Security. The SS payroll deduction is taxable. Reagan's law taxes up to 85% of SS income - an unfair double tax. When employers contribute to SS, they deduct these funds as expenses. Employees should be treated the same way - a TAX-FREE CONTRIBUTION (like an IRA). The increase in take home pay will feed the economy.