Here is a great idea that I have lifted from Wayne Allyn Root, who was the Libertarian candidate for Vice President in 2008: Candidates should run on a platform of ending all taxes on Social Security. Why? Focus upon this: workers have been required, often for many decades, to pay into Social Security without getting any tax deductions for their contributions. And the government has kept these contributions, often for many decades, without the contributors even receiving any interest on their money whatsoever. So why do we allow government to tax us on our after-tax money we let them use interest free for so long? In addition, a retired judge friend of mine made the following comment after reading a draft of this edition: “I’d add that the hardest thing I do when I figure out my 100 year old Mom’s taxes is figuring the social security taxes with (the necessary) form. And then if I discover a small mistake elsewhere in my taxes, I must start from scratch and redo this form. It occurred to me that lots of 100 year olds don’t have lawyer sons, nor the means to hire someone with the skill to use an app. What do they do? Horrible.”
Thus, fundamentally, this idea is about fairness – and it is totally workable. In fact, most Americans don’t even remember that Social Security was never taxed until 1984. So if it wasn’t taxed before then why should it be now? Furthermore, many of the Social Security recipients often live hand to mouth, so this action is not only about fairness, it is about assisting potentially millions of retired Americans to pay their bills in this time of high inflation. As a result, political candidates should rightfully run on the “Save the Seniors” banner! Not only would this movement be practical, it would truly be the fair and right thing to do!
Quote for the week: “Never regard study as a duty, but as an enviable opportunity to learn.” Albert Einstein