Sunday, August 19, 2012

A Silently Growing Middle Class Tax

Social Security benefits are taxable at highly variable rates, with the poor and the rich benefiting the most. The middle class tax burden has been doubling each ten years -- and will triple in the next decade. Why? Because this tax is not 'inflation-indexed' -- means that more and more retirees at lower levels will be sending some of their SS benefits back to the Treasury. It's a silent tax increase that keeps on growing and growing.