We paid into Social Security all our working lives. The very idea of taxing the payments is blatently unfair. If more than $15,000 is earned from investments or other pensions, a massive tax is levied on your SS benefits. This should be abolished or the threshhold increase twofold. $15,000 should not be considered an income high enough to cause this tax on SS benefits.
Why is this important?
There is a tax on social securiy payments if one dares take anything over $15k out of investments or other pensions. Barak Obama promised to change the calculation to exempt double the amount in the formula. It hasn't been done and, especially here in NYC, $15k is not a high income. It is unfair to tax money that I paid for in 45 years of work.
