Less than two months before the 2024 election, the race is close, with voters split between former President Donald Trump and Vice President Kamala Harris.
However, there seems to be a consensus that the economy is among voters’ top issues, and according to polls, the majority trust Trump more to get the country back on track.
A recent Wall Street Journal poll found that 83 percent of registered voters either strongly or somewhat favor Trump’s proposal to end taxes on Social Security benefits. Sixty-four percent of respondents said they “strongly favored” cutting taxes on Social Security benefits, and 19 percent said they “somewhat” favor the policy. Just ten percent opposed it.
The WSJ found that 16 percent of American households would benefit from Trump’s tax cut proposal, saving them about $3,400.
The income tax on benefits hit 50% of Social Security recipients in 2023, according to the Social Security Administration, up from 10% when Congress created the tax in 1983. Many retirees are surprised when they learn about the tax liability, and surveys show the Trump proposal has touched a nerve. Social Security recipients must calculate their income, adding in half of their benefits. If that total income exceeds $25,000 ($32,000 for married couples filing jointly), up to half of benefits are taxed. If it exceeds $34,000 ($44,000 for married couples), up to 85% of benefits are taxed. That system can create high marginal tax rates for working Social Security recipients because they simultaneously face regular taxes and taxes on more of their benefits as income goes up.
Income taxes on benefits now make up about 4% of Social Security’s revenue, and repealing the tax would hasten the day when the program can’t pay full benefits. Congress raised the tax in 1993 and directed that money to Medicare. Lawmakers intentionally set income thresholds for the tax without inflation adjustments, and it affects more people over time. Beneficiaries who pay the tax generally have wage or investment income beyond Social Security. […]
— Read More: townhall.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Kamala Harris Says the American Dream Is “Gone”
by Modernity News
During a pre recorded interview, Kamala Harris once again failed to deliver any substantive outline of her policies, primarily attacking Donald Trump’s outlook and his first term in office. At one point when speaking about the economy, Harris appeared to suggest, in stark contrast to Trump, that the American Dream…
Gold Price Forecasts Skyrocket Following Moves by China and the Fed
by Sponsored Post
With the Federal Reserve beginning what most expect to be a sustained easing cycle, momentum continues to rise for gold and silver. Values have been steadily rising and the newest forecasts point to even more gains down the road. At the end of September, BMO Capital Markets published updated commodity…
Taxes and Tariffs and Trade: Oh My! Trump’s Plan to Bolster the Economy
by Just The News
In a bid to build a broader coalition, former President Donald Trump has outlined a vision of tax cuts, import tariffs, and “reciprocal trade” to preserve and restore American industries. Since coming down the escalator of Trump Tower in 2015, the Republican standard bearer has espoused unconventional trade policies and…
Expert Testimony: Mass Immigration Under Biden-Harris Is Driving Up Rents for Americans
by Breitbart
The arrival of millions of foreign nationals, many of whom are illegal aliens, under President Joe Biden and Vice President Kamala Harris is helping to drive up rents for working- and middle-class Americans, an expert witness told Congress Wednesday. Center for Immigration Studies Director of Research Steven Camarota told the…
This Year Marks First Since 1958 That Us Held No Oil and Gas Lease Sales
by Just The News
This year will be the first year since 1958 that the Bureau of Ocean Energy Management held no offshore oil and gas lease sales. Energy expert Alex Epstein, author of “Fossil Future,” argued at a recent House Budget Committee hearing the United States’ record-high oil production is in spite of…
Kamala’s Devastating Middle Class Taxes
by Independent Sentinel
With the election coming up, the IRS plans to reduce our taxes for 2025. it’s a common tactic to make it seem like they won’t tax us into oblivion once they return to office. CBS News: Some Americans could see lower federal income taxes in 2025 due to an annual…
Congress Passes Stop-Gap Spending Bill After Failed Mike Johnson Gambit
by Breitbart
Congress on Wednesday passed legislation that would fund the government through nearly the end of December. The House and the Senate passed a stop-gap spending bill that would push the government spending deadline to December 20. The measure, otherwise known as a continuing resolution (CR), keeps federal spending the same….
A ‘Bipartisan’ Bar Tried to Open in DC, Then Libs Cried That an Elephant Image Was ‘Hurtful.’
by The National Pulse
A new bar in Washington, D.C., whose political theme focused on bipartisan agreement and debate, succumbed to partisan pressure before the establishment could even serve its first drink. Originally billed as Political Pattie’s, the bar was flooded with complaints by liberals who said the establishment’s logo—specifically the Republican Elephant—was offensive…
Newsom Signs Bill Requiring Janitors to Take $200 Sexual Harassment Training
by Just The News
California Gov. Gavin Newsom signed a bill requiring companies that hire janitors to make sure janitors take sexual assault training every other year, and pay $200 per participant for sessions with under 10 janitors present, and $8 for sessions with 10 or more janitors. The bill also requires the government…
Biden-Harris Regime Prepares Another $8 Billion in Military Aid for Ukraine During Zelensky’s Washington Visit
by The Gateway Pundit
The Biden-Harris regime is once again prioritizing foreign interests over the well-being of American citizens, with plans to announce an eye-watering $8 billion in military aid for Ukraine during Ukrainian President Volodymyr Zelensky’s visit to Washington. This massive giveaway comes as Americans continue to face economic hardships, skyrocketing inflation, and…
‘Economic Dystopia:’ Silicon Valley Tycoon Predicts AI Will Take Over 80% of All Work
by Breitbart
Vinod Khosla, legendary Silicon Valley investor and entrepreneur, has predicted that AI will replace the majority of work in most jobs, necessitating the implementation of universal basic income (UBI) to prevent economic instability and inequity. Fortune reports that in a recent blog post, Vinod Khosla, the billionaire co-founder of Sun…
