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View Full Version : SS is a tax? Tell that to the iRS



luvmylabs23139
12-05-2011, 01:20 PM
So Obumma is on TV again calling SS witholding a tax. Maybe he should tell that to the iRS since if it is a "tax" it would violate double taxation. Money is witheld for SS and federal income tax is paid on that money at the time it is witheld. That means it can't be a tax, because you can't tax a tax so to speak.
I like his concept but I doubt the IRS will be kind to me if I take that off the top before determining my federal tax liability. However if it is a tax then by law I should not pay federal income tax on the amount paid for SS.

Gerry Clinchy
12-05-2011, 05:07 PM
Luv, I thought you knew ... it's a voluntary contribution. Just try not volunteering & see what happens :-)

captainjack
12-06-2011, 07:42 PM
I don't follow your argument. What law prohibits double taxation? You pay federal income tax (at least 1/2 of us do), then you pay federal gas tax when you buy gasoline, then you pay federal exise tax on various other products. Not to mention State Sales taxes. None of these taxes are deductible for determining taxable income. Also corporate earnings are taxed, then dividends are taxed when distributed. Also double taxation (triple taxation if you then fill up your car with the money from the dividend check you just cashed).

Not in any way shape or form defending Obama. Just not getting your argument.