Just when the Social Security Agency finally had a progressive, engaged commissioner in former mayor of Baltimore and governor of Maryland, he’s gone. Effective November 29th Martin O’Malley is resigning to run for chairman of the Democratic National Committee. Among other positive changes made during O’Malley’s all too brief tenure as commissioner was modification of…
The annual cost of living adjustment (COLA) for more than 72.5 million Social Security and SSI recipient for 2025 will be 2.5% as inflation comes under control. The COLA for 2024 was 3.2%. The average retiree will receive $48 more per month next year. The earnings limit for workers younger than full retirement age will…
Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
Rep. Angie Craig, D-Minnesota has introduced the “You Earned It, You Keep It Act” to repeal federal income taxes on Social Security benefits.
Currently Social Security recipients who earn more than $25,000 for an individual or $32,000 for a married couple, filing jointly, are taxed up to 85% of their benefits. Below that threshold benefits are not taxed.
According to AARP, about 56% of Social Security recipients are taxed on their benefits.
The cut would be paid for by raising the payroll tax cap to $250,000, something Attorney Crawforth has advocated for years. Currently, wages over $147,000 are exempt from Social Security payroll taxes.