Soooo… Put even more tax burden on the tax-burdened younger generations?
They already have later social security dates, & pay nearly all of the taxes.
Retirees pay almost nothing in tax. The first 24,000 for a married couple is completely tax exempt, they can then take $88,000 in Capital gains, also completely tax free.
As a retired person you can collect 115k+ and pay 0$ in tax. I know because I’ve already done my own tax planning for retirement, and that’s how much taxes I will be paying, nothing.
Compare that to my working years, I paid $40,000 in taxes last year between state and federal.
It might come from my side of the political aisle, but personally I think the Boomer generation & retirees have had enough handouts already, if this passes you can be sure they’ll put an expiration on the cuts so the ladder can be pulled up before the rest of us get there.
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Soooo… Put even more tax burden on the tax-burdened younger generations?
They already have later social security dates, & pay nearly all of the taxes.
Retirees pay almost nothing in tax. The first 24,000 for a married couple is completely tax exempt, they can then take $88,000 in Capital gains, also completely tax free.
As a retired person you can collect 115k+ and pay 0$ in tax. I know because I’ve already done my own tax planning for retirement, and that’s how much taxes I will be paying, nothing.
Compare that to my working years, I paid $40,000 in taxes last year between state and federal.
It might come from my side of the political aisle, but personally I think the Boomer generation & retirees have had enough handouts already, if this passes you can be sure they’ll put an expiration on the cuts so the ladder can be pulled up before the rest of us get there.