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the AMT and SS. Retirees scr*wed again.
Old 08-07-2008, 07:22 AM   #1
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the AMT and SS. Retirees scr*wed again.

Meet the Diabolical Tax, the Alternative Minimum Tax for the Retired - Registered Investment Advisor
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Old 08-07-2008, 08:13 AM   #2
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Sorry, Ed, but we'll probably get screwed even more see more changes in the future...
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Old 08-07-2008, 10:33 AM   #3
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I didn't know about this... thanks for posting.

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Old 08-07-2008, 11:00 AM   #4
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And some people say SS will be means tested in the future. Forget that it is now and has been ever since Mr. A Gore cast the deciding vote in the early days of the first 4 years of the Clinton administration. Of course the future may be even worse. Congress knew exactly what there were doing when they failed to index SS AND AMT taxes. Gave them lots of money for "pork barrel" junk.
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Old 08-07-2008, 11:26 AM   #5
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Interesting link but a misleading use of the term AMT in the title of this thread......this has nothing to do w/ the AMT and has been this way for quite a few yrs now. You may pay taxes on SS even if not affected by AMT.
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Old 08-07-2008, 01:55 PM   #6
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Besides making a sensational headline, I think that the AMT reference was because the SS taxation cutoffs were also not indexed for inflations.
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Old 08-07-2008, 02:01 PM   #7
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so why should the younger generation pay higher taxes to keep the SS checks flowing?
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Old 08-07-2008, 02:09 PM   #8
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so why should the younger generation pay higher taxes to keep the SS checks flowing?
I am sure Ben Stein would agree with me, they should do this because it is the patriotic thing to do.
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Old 08-07-2008, 05:05 PM   #9
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Actually, I found it to be interesting that some SS might not be taxed by the feds. I have been assuming that these days, SS is subject to federal taxes, whereas it wasn't for some prior generations.
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Old 08-07-2008, 05:12 PM   #10
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Single, 65 and screwed. Oh I also get to pay the higher level of Medicare cause I take too much money out in my old age.

There you have it folks - there is a downside to Pssst -Wellesley.

Now for the lucky and the smart - the Roth loophole hasn't been closed yet. Right??

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Old 08-07-2008, 05:33 PM   #11
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And some people say SS will be means tested in the future. Forget that it is now and has been ever since Mr. A Gore cast the deciding vote in the early days of the first 4 years of the Clinton administration.
GMAFB! - What did you think of Bush Jr. trying to eliminate S.S. altogether? S.S. is a Democrat Program, so don't complain too hard when you cash your check!

And remember before you complain about the Clinton years, remember that those years had budget surpluses. Unlike, Reagan and Bush Jr. that has bankrupted the country by deficit spending.

Bush Jr. Legacy - The worst U.S. President in History! If you voted for him instead of A. Gore - Your vote is the one that should be chastised!
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Old 08-07-2008, 05:42 PM   #12
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the Roth loophole hasn't been closed yet. Right??
yet.
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Old 08-07-2008, 05:46 PM   #13
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Oh wow a fired ex-moderator has posted..
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Old 08-07-2008, 07:26 PM   #14
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GMAFB! - What did you think of Bush Jr. trying to eliminate S.S. altogether? S.S. is a Democrat Program, so don't complain too hard when you cash your check!
And remember before you complain about the Clinton years, remember that those years had budget surpluses. Unlike, Reagan and Bush Jr. that has bankrupted the country by deficit spending.
Bush Jr. Legacy - The worst U.S. President in History! If you voted for him instead of A. Gore - Your vote is the one that should be chastised!
Here, Cut-Throat, I'll quote this in case you feel it needs deleting editing.

Don't worry, I'm only visiting your profile for the length of time that it takes to add you to my "Ignore Poster" list.
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Old 08-08-2008, 06:56 AM   #15
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Quote:
Originally Posted by Cut-Throat View Post
GMAFB! - What did you think of Bush Jr. trying to eliminate S.S. altogether? S.S. is a Democrat Program, so don't complain too hard when you cash your check!

And remember before you complain about the Clinton years, remember that those years had budget surpluses. Unlike, Reagan and Bush Jr. that has bankrupted the country by deficit spending.

Bush Jr. Legacy - The worst U.S. President in History! If you voted for him instead of A. Gore - Your vote is the one that should be chastised!
Just stating a "fact" (sorry, I did not mean to confuse). No politics intended. Trying to point out that up to 85% of SS is taxed versus the prior level of 50%. SS is a democratic program, that is news, I thought all those folks in DC approved it. But, if like you said, it is a democratic program maybe they will get the opportunity to fix it now that they are "in charge" - still waiting for the "fixing of the gasoline prices" that they were going to fix when it was $2.50 a gallon; oh, I guess they did fix it, just did not understand what the "fix" was going to be. Oh well "change" is coming too, hope we can afford the "change".
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Old 08-08-2008, 08:59 AM   #16
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so why should the younger generation pay higher taxes to keep the SS checks flowing?
Because they don't vote as consistently as seniors.
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