should be doubled
After assisting many taxpayers with their tax form preparation for some 25 years (quite a number on Social Security), I have come to the inevitable conclusion that it’s high time and long overdue that the dollar limits that precipitate the taxation of part of beneficiaries’ Social Security income be at least doubled, if not tripled.
The $25K/$34K single limits and the $32K/$44K couples limits are far too low. They have never been raised due to inflation or cost-of-living increases.
I heartily propose that the single limits be increased to $50K/$68K and the couple limits to $64K/$88K at the very least. Preferably, the single limits should be raised to $75K/$102K and the couple limits to $96K/$132K. I’ll bet FDR never envisioned the taxation of Social Security income at all. At least after originally following the federal government’s lead for many years, the State of Wisconsin has not taxed Social Security income for many years.
If anyone wants to put my ideas on social media, please go right ahead and do it as soon as possible. My low income prevents me from even having access to social media. Send messages to our federal legislators if you can.