Former President Donald Trump reiterated a campaign promise to eliminate taxes on Social Security income for seniors.
“To get economic relief to workers and families, I will make the Trump tax cuts permanent, and we will have no tax on tips, which she copied,” Trump told the crowd. “You all know by now, she came out a few days ago and she said, ‘There will be no tax on…’ I said, ‘I said that months ago.’”
“But, here’s one that she hasn’t copied yet,” Trump added. “To help seniors on fixed incomes who are suffering the ravages of horrible inflation caused by Crooked Joe and Kamala, there will be no tax on social security.”
“And, I get it done,” Trump added. “I will get it done. They won’t. They haven’t even promised it to you, but, they won’t get it done if they do.”
Trump has previously announced that he would eliminate taxes on Social Security income for seniors.
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As Breitbart News’sJohn Nolte explained, single people with a combined income over $25,000 might end up paying a “standard income tax rate on up to $12,500” of their yearly Social Security income:
Currently, if you are single and your combined income (i.e., your Social Security income plus an outside job) exceeds $25,000, you may have to pay the standard income tax rate on up to $12,500 of your annual Social Security income. If you are single and your combined income exceeds $34,000, you may have to pay the standard income tax rate of up to 85 percent of that $34,000.
The Social Security Administration’s website explains that married individuals with a combined income “between $32,000 and $44,000” may end up paying “income tax on up to” 50 percent of their benefits, while for married couples with a combined income of “more than $44,000, up to” 85 percent of their benefits “may be taxable.”
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