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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (450274)	10/11/2011 1:37:36 PM
From: goldworldnet	Read Replies (1) \| Respond to of 793955

Social Security and pension checks follow the same income tax tables as payroll checks, but FICA which is a combination of Social Security and Medicare tax is no longer deducted. Replacing FICA with a national sales tax would be inconsequential for working people, but for those who are retired it would be a huge increase. * * *

To: t4texas who wrote (450274)	10/11/2011 3:10:56 PM
From: ManyMoose	2 Recommendations Respond to of 793955

As a federal retiree, I pay income taxes on my pension the same as if it were regular income. The taxes are deducted from each monthly check. My wife gets a VERY small SS check. She elected not to have deductions taken from it because we itemize. To me it would be a simple matter to have a standard deduction to the income subject to a flat tax so as not to screw over retirees like me and other low income people. The standard deduction could be at the top end of the poverty level. A deduction for property taxes would also be in order. These two items do not require a lot of accounting, so the tax code could still be cut to one percent of what it is now. I'm willing to pay the same amount of taxes that I do now, but not more. More taxes would make it difficult for me. what income taxes do retired people in the usa have to pay, and what, if any, is withheld from their social security checks?