RE: She should’ve cut out the tax break on social security
Posted on: July 1, 2025 at 07:57:45 CT
BH O'bonga MU
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We paid Social Security tax, including the full 15.3% on all our farm earned income for over 50 years. Now, we pay income tax on both my pension and social security income. Since our non-earned income exceeds a certain amount, IRS notifies SS and they reduce our monthly SS benefit and increase our Medicare insurance premium to the maximum amount. My wife and I are paying more for Medicare and Medicare Advantage health insurance than we paid for regular (non-Medicare) health insurance when we still had children covered on our policy. I know we would have been better off without social security and Medicare. Think what we could have done with that 15.3% of our farm income over 50 plus years.