{"id":15031,"date":"2024-10-14T18:13:20","date_gmt":"2024-10-14T18:13:20","guid":{"rendered":"https:\/\/lonecandle.com\/?p=15031"},"modified":"2024-10-14T18:13:20","modified_gmt":"2024-10-14T18:13:20","slug":"fixing-social-security-means-raising-taxes-and-not-just-on-the-superrich","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=15031","title":{"rendered":"Fixing Social Security means raising taxes \u2014 and not just on the superrich"},"content":{"rendered":"\n<p>&#8220;&#8221;&#8221;Trump also recently proposed cutting taxes on Social Security payments. That might sound good because people will net more money when they receive their benefits. But the reality is more complicated. The poorest households wouldn\u2019t see any change under that plan because Social Security benefits for those making below $32,000 are already untaxed, while the richest recipients would be more likely to see a tax cut.&#8221;<\/p>\n\n\n\n<p>&#8230;<\/p>\n\n\n\n<p>&#8220;There\u2019s no way around it: Lawmakers have to raise taxes on many families, including those who aren\u2019t millionaires. Right now, any income that someone&nbsp;<a href=\"https:\/\/www.ssa.gov\/benefits\/retirement\/planner\/maxtax.html\" target=\"_blank\" rel=\"noreferrer noopener\">makes above $168,000<\/a>&nbsp;is not taxed for Social Security. That means that higher earners pay a smaller share of their income toward funding Social Security than lower- and middle-income earners.&#8221;&nbsp; &nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.vox.com\/policy\/377666\/social-security-reform-solvency-trust-fund-trump-harris-plans\">https:\/\/www.vox.com\/policy\/377666\/social-security-reform-solvency-trust-fund-trump-harris-plans<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;&#8221;&#8221;Trump also recently proposed cutting taxes on Social Security payments. That might sound good because people will net more money when they receive their benefits. But the reality is more complicated. The poorest households wouldn\u2019t see any change under that plan because Social Security benefits for those making below $32,000 are already untaxed, while the richest recipients would be more likely to see a tax cut.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;There\u2019s no way around it: Lawmakers have to raise taxes on many families, including those who aren\u2019t millionaires. Right now, any income that someone makes above $168,000 is not taxed for Social Security. That means that higher earners pay a smaller share of their income toward funding Social Security than lower- and middle-income earners.&#8221;   <\/p>\n<p>https:\/\/www.vox.com\/policy\/377666\/social-security-reform-solvency-trust-fund-trump-harris-plans<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[221,674,966,411,1672,675,141,170,150],"class_list":["post-15031","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-donald-trump","tag-entitlements","tag-kamala-harris","tag-policy","tag-seniors","tag-social-security","tag-taxes","tag-trump","tag-welfare"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15031"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15031\/revisions"}],"predecessor-version":[{"id":15032,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15031\/revisions\/15032"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}