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Politics : The Trump Presidency

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To: koan who wrote (75569)	6/5/2018 10:54:54 AM
From: Wharf Rat	Read Replies (1) of 363515

"Reagan did not want to save it," Then he failed, cuz he did save it. Why did you stop at '81? Is that cuz he saved it in '83? "The tax on social security started as part of Reagan's assault on SS in 1984" I don't have a problem with that tax. It all goes back to SSTF. In fact, I want it bumped up to 99% for those with outside incomes greater than $100K. It's means testing. Prior to OBRA 93, all of the revenue raised from taxing Social Security benefits was credited to the Old-Age, Survivors, and Disability Insurance Trust Funds. OBRA 93 established the second income thresholds of $34,000 of modified AGI for beneficiaries filing income tax singly and $44,000 of modified AGI for married beneficiaries filing jointly. Although benefit income for tax filers with modified AGI below those thresholds remains taxable according to the terms of the 1983 amendments, up to 85 percent of Social Security benefits are taxable for beneficiaries with modified AGI exceeding the new thresholds. 5 The additional revenue generated by increasing the maximum taxable proportion of benefits above the second threshold from 50 percent to 85 percent is credited to the Medicare Hospital Insurance Trust Fund. ssa.gov

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