For the second time, following its initial introduction in late 2022, a legislative proposal aims to eliminate federal taxes on Social Security benefits. The buzz around this development is palpable, as it promises not only to remove the tax burden from these benefits but also to significantly extend the solvency of the Social Security trust funds from 2033 to an impressive 2054. Furthermore, it's projected to reduce the federal debt by a staggering $8.9 trillion over the next 75 years.
In this video, we dive deep into the essentials of this proposal, exploring the dual nature of what it offers and what it can take away.
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⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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By: Devin Carroll
Title: The Repeal of Taxes on Social Security
Sourced From: www.youtube.com/watch?v=NOIFL4zuXiA
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