Threshhold on social security outdated
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Introduction
The threshhold amounts that are allowed before social security benefits are taxable have never changed.
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About the Topic
Currently if you are retired and receiving social security, you are taxed at a rate of 50% or 85% after the base amounts. The base amounts are $32,000, and $44,000 MFJ. The other base amounts for filing single are $25,000 and $34,000. These base amounts have never been increased since they were enacted many years ago. When politicians talk about the middle class being overly taxed they never mention this burden. It's time to act and have these base amounts increased to double what they are now.
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