Social Security Reform?

I had saved a bunch of magazines because I was too lazy to tear out an article or recipe that I wanted to save. I was cleaning up the clutter and found this letter to the editor from a newspaper in 2005:


Currently, social security income is subject to the federal income tax. The amount and percentage depends on the income bracket of the taxpayer. In 2004, I was taxed $1,318 on my social security income. Although I do not consider this fair, it is not the subject of this letter.

The money that the government is taxing is social security money. What does the federal government do with this social security money? You would think because of the so-called crises in social security that this money would be returned to the social security trust fund. But it's up to the government coffers.

This is our social security money--not the government's. Why not return this tax money to the trust fund? It would certainly make a difference in the shortfall.
Gene Boley
Georgetown


Wait. Hold on. I get taxed on my paycheck to pay for SS. They then tax the SS received by the people collecting on it?

Why? I had no idea. This is insane!