Two Guys on Politics: Eliminate Taxes for Seniors on Social Security
Nov 20, 2021 S1E12
Former Congressman Bill Lipinski and former Chicago City Hall reporter Ray Hanania analyze the challenges facing Senior Citizens who are on fixed incomes and depending on Social Security. Hanania wrote a column detailing a program to help seniors who earn $100,000 or less to protect their social security retirements without having to pay taxes.
After discussing the plan, Lipinski, a former Congressman, said that he believed the plan was workable and that some members of Congress should introduce it and make seniors the priority.
Seniors need to blobby for this plan. Here's the basic proposal:
SENIOR TAX WAIVER $100,000 Limit
The goal is to protect Social Security income and allow the senior to do some work to a total combined taxable income of $100,000, and benefit from other tax and healthcare and prescription benefits.
Category 1:
Seniors 65 and older earning under $100,000 in total combined income, including married couples with one spouse under 65 who is not collecting social security.
Eliminate all taxation up to $100,000. No income taxes (Federal and state), and no property taxes (or a property tax reduction of 50 percent to a ceiling of $3,500 a year).
Provide free healthcare and prescription drugs for senior, and reduced costs for spouse under 65.
Encourage utility companies to reduce charges by 50 percent for (electricity, water, telephone, gas, cable TV, WiFi.)
Category 2:
Married couple both over 65, both collecting social security and earning combined taxable income under $150,000
Eliminate all taxation for the first $150,000. No income taxes (Federal and state), and no property taxes (or a property tax reduction of 50 percent to a ceiling of $3,500 a year).
Provide free healthcare and prescription drugs for both seniors, and reduced costs for spouse under 65.
Encourage utility companies to reduce charges by 50 percent.
Category 3:
Seniors 65 and older earning combined taxable income under $250,000 (including married couples with one spouse under 65)
Eliminate taxation on income up to $100,000 and resume tax on income above $100,000.
Category 4:
Married couples, both over 65, both collecting social security and earning combined taxable income under $250,000.
Eliminate taxation on combined income up to $150,000 and resume tax on income above $150,000.
About “Two Guys on Politics” Podcast
Reagan Democrat Perspectives from Chicagoland’s Southwest Side
Bill Lipinski served as Democratic Committeeman/Alderman of Chicago’s 23rd Ward. Lipinski was elected to Congress in 1983 and served through 2005. He currently writes the “Right from the Center” opinion column at www.SuburbanChicagoland.com.
Ray Hanania covered Chicago City Hall from 1976 through 1992 and writes mainstream opinion columns for The Southwest News Newspaper Group and Middle East column at the Arab News Newspaper www.ArabNews.com
Our web address is www.TwoGuysonPolitics.com
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