-Caveat Lector-
{{Last night I ran across a cheesy movie starring Sen. Fred
Thompson as a white supremacist and thought "Oh, no! I hope
Ted Kennedy does not see this after a few drinks as he will
haul Fred before a senate hearing." LOL! Anyway, the
following is being proposed by my senater and sounds like a
good idea. BTW, it is not Soc. Sec. taxes but the tax on
benefits paid to the elderly ,AKE}}
Sen Shelby Introduces Legislation to Repeal Social Security
Tax
By Sierra Times - Posted: 01.29.00
WASHINGTON, DC ---Senator Richard C. Shelby, on Thursday,
introduced legislation to repeal the tax on Social Security
benefits.
Senator Shelby's legislation would completely eliminate the
tax on Social Security benefits over a period of five years.
The bill will immediately repeal Social Security tax
provisions imposed in 1993 by President Clinton, and will
phase down remaining taxes until the tax is completely
terminated for tax year 2005.
"This legislation is long-overdue," said Senator Shelby.
"This tax on Social Security benefits is misguided and only
acts to penalize hard working and productive members of
society. As workers, these senior citizens are taxed when
they earn their money, they are taxed when the government
returns it in the form of Social Security benefits, and if
they are smart enough to save it to give to their children
or grandchildren, they will have to pay estate taxes before
anyone sees a penny."
"Many seniors need to work in order to pay for costly health
insurance premiums, prescription drugs, and other expenses
that they incur as they grow older," continued Shelby. "For
these seniors, working is not a choice, it is a necessity.
If we eliminate the tax on Social Security benefits, most
seniors would have more disposable income to pay for many of
these necessities. But rather than helping them, we hurt
them by taxing their Social Security benefits, lowering
their standard of living and decreasing the amount of
disposable income they have available to them."
J.J. Johnson
An Internet Publication for Real Americans � 2000
SierraTimes.com - All rights Reserved
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