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RichardV792104
Contributor ⭐
August 8, 2024

Does AARP support the idea of no taxes on Social Security benefits?

  • August 8, 2024
  • 38 replies
  • 15114 views

I'm interested in the idea of no taxes on Social Security benefits.  I understand that this is a campaign promise by a presidential candidate but feel it is something that AARP should support.

      38 replies

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      DanL873126
      Contributor ⭐
      August 19, 2024

      I agree. As an advocate for retired people, AARP should support this irrespective of partisan politics.

        DirkB349973
        DirkB349973
        Conversationalist ⭐
        August 19, 2024

        Since taxes go back into the fund, collecting no taxes would exhaust the fund more quickly. Just something to consider.

          D
          DanL873126
          Contributor ⭐
          August 20, 2024

          Thanks, but that is not factually correct. Income taxes do not fund the Social Security Trust Fund.  Social Security is funded by FICA taxes, not income tax, and Social Security benefits are already exempt from FICA taxes.  So freeing Social Security benefits from income taxes will have no effect on funding Social Security.

            J
            JohnC728129
            Contributor ⭐⭐
            August 29, 2024

            The president can’t dismiss taxes on social security it must go through Congress. I feel if they can’t agree to end taxes on our benefits then they should at least consider increasing the tax table for inflation. It’s been 40 years for the 50% and 30 years for the 85% since the laws was past with no adjustments.

              C
              CaptainObvious60
              Contributor ⭐⭐
              September 14, 2024

              AARP would never support anything President Trump supports even if it benefits the elderly! Very sad that AARP is so politicized!

              Im curious to see how they will spin it though!

                M
                MichelleS55732
                Contributor ⭐
                February 28, 2025

                If you vote not to have taxes on social security, understand that you will be drying up social security because social security is funded by taxes. If you have not axes on it, it is estimated that the fund will run out of money in 5-6 years.

                  GailL1
                  GailL1
                  Community Champion ⭐⭐⭐
                  February 28, 2025

                  @MichelleS55732 

                  Yes, your are right about the taxes but I don’t know about the timing of insolvency.

                  In 2023, taxes on benefits added $ 51 BILLION to the Trust Funds and the WEP/GPO elimination passed at the end of last year is gonna cost the Trust Fund a minimum of $ 200 BILLION and that is low - so yes, the Trust Funds are bleeding money all because Congress wants to look good.

                   

                  Think, folks, Think !!!  

                  IT‘S ALWAYS SOMETHING . . . . .. . . . Roseanne Roseannadanna
                  GailL1
                  GailL1
                  Community Champion ⭐⭐⭐
                  May 28, 2025

                  @RonC10078 -

                  You are talking about different taxes - You are talking about PAYROLL TAXES - where they take Social Security and Medicare (Part A) contributions out of your wages and then the employer matches them in all the years while you are working as an employee or self-employed.

                   

                  This discussion is about Social Security taxes ON BENEFITS which many of us have to pay annually via our taxes - these tases are computed and shown on our yearly tax forms.  

                  The Treasury sends these monies - taxes paid on Social Security benefits - to the SSA for appropriate credit to whichever Trust Fund allocation.  

                  In 2024, the Social Security Trust Fund received 51 BILLION from these taxes on social security benefits.  Mine included.  

                  IT‘S ALWAYS SOMETHING . . . . .. . . . Roseanne Roseannadanna
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