Trump pitches repealing tax on Social Security benefits

[progree]

4. ⚠️People should know that the income tax on SS benefits GOES INTO THE SS SYSTEM, not into the general

fund. So eliminating this will cut Social Security's revenue stream. And it's a progressive tax -- 52% of SS beneficiaries don't meet the income threshold and so don't pay any income tax on their benefits. The other 48% pay according to a progressive schedule based on income and SS benefit amount. So that's why Felonious Maximus wants to cut it.

This is not a linkless assertion of opinion as fact, as is a little all too common. Here is the link:

https://www.ssa.gov/policy/trust-funds-summary.html

In 2022, an estimated 48 percent of beneficiaries paid income taxes on part of their benefits. Receipts from these taxes go to the OASDI Trust Funds and Medicare's Hospital Insurance Trust Fund. In 2023, income to the combined OASDI trust funds from the taxation of benefits amounted to $51 billion.

Emphasis added

Edited to Add 8/1 730 AM ET

I'm glad that the OP's linked article also makes this point (plus a little bit on the SS benefits taxation thresholds):

Currently about 40 percent of seniors who receive Social Security have to pay taxes on the benefit, according to the Social Security Administration. Beneficiaries earning less than $25,000 don’t have to pay the tax; above that threshold, up to 50 percent of income is subject to the tax, and starting at $34,000, up to 85 percent is taxed.

The revenue generated by taxing benefits is used to shore up the Social Security and Medicare trust funds, which are currently dwindling. The Social Security trust fund, if combined with the program’s Disability Insurance Trust Fund, could pay out the full retirement benefit until 2035. At that point, benefits would face a 17 percent cut, according to the annual trustees report.

Emphasis added