K-12 tax, $pending & referendum climate: Seniors Who Work Can Pay Tax Rates of 70%
The Democrats are mighty nervous about Trump’s latest idea to stop the unfair taxation of Social Security benefits. Why? Because it turns out the policy is popular with voters over the age of 65.
Unleash Prosperity’s lead piece in Fox Business this weekend notes that seniors who continue to work after they’re eligible for Social Security face marginal tax rates that can easily rise above 50 to 60%. In other words, for every dollar they earn, the federal government takes away more than 50 cents.
John Goodman of the Goodman Institute finds the rates can be above 70%.
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Meanwhile, large tax & $pending referendums will be on the fall ballot:
