Audit the Fed and legalizing raw milk are not the only issues championed by Campaign for Liberty Chairman Ron Paul. Congressman Massie has also introduced the Senior Citizens Tax Elimination Act (H.R. 589). As the name suggests, HR 589 repeals taxes on Social Security benefits. Congressman Masise's Press Release provides more details (excerpts below and full text available here):
WASHINGTON, D.C. – Congressman Thomas Massie re-introduced the Senior Citizens Tax Elimination Act (H.R. 589), which would eliminate income taxes on Social Security benefits. The bill would boost the retirement income of millions of older Americans.
Original co-sponsors include Congressman Ron DeSantis (R-FL), Congressman Louie Gohmert (R-TX), Congressman David Jolly (R-FL), Congressman Jim Bridenstine (R-OK), Congressman Trent Franks (R-AZ), freshman Congressman Rod Blum (R-IA), and freshman Congressman Alex Mooney (R-WV).
“Social Security is financed with Americans’ tax dollars, so taxing Social Security is double-taxing by the Federal Government,” said Congressman Massie. “Taxing Social Security reduces benefits to seniors.”
Congressman Ron DeSantis said, "Americans pay taxes their entire working lives to support Social Security, so there is no reason why these earned benefits should be taxed once again when they receive them. Congressman Massie’s legislation promotes transparency by blowing the whistle on the Federal Government for double-taxation while protecting our senior citizens."
Congressman David Jolly said, “Seniors should not be taxed for a benefit they rightfully earned by paying into Social Security for decades. The current system penalizes seniors as a way to support a government that is living beyond its means. We should instead focus on securing Social Security for all generations in a responsible and sustainable way."
"It is problematic enough to pay high taxes on income when it is earned the first time. But, to turn around and tax Social Security benefits as a portion is being returned is unfair and can be harmful to seniors just trying to get by after a long life of work. This bill is not only the just and right thing to do, it is the helpful thing to do," said Congressman Louie Gohmert.
"West Virginia seniors need relief from higher costs of living,” said Congressman Alex Mooney. “Seniors have worked hard to earn their Social Security benefits and have already been taxed on their contributions to Social Security. The Federal Government tax on Social Security is a double-tax and its repeal would provide an immediate increase in benefits for our seniors."
“I am proud to co-sponsor Congressman Massie’s bill to protect our seniors,” said Congressman Rod Blum. “This is a common sense bill that will end the double-taxation of our seniors. Our seniors pay enough taxes on their Social Security on the front end, and it is irresponsible for the government to tax them twice.”
Here is then-Congressman Ron Paul's official statement on his Senior Citizens' Tax Elimination Act, which he introduced along with the Social Security Beneficiary Tax Reduction Act, which repealed the 1993 tax increase in Social Security benefits:
SPEECH OF
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
WEDNESDAY, JANUARY 5, 2011
Mr. PAUL. Mr. Speaker, today I am pleased to introduce two pieces of legislation to reduce taxes on senior citizens. The first bill, the Social Security Beneficiary Tax Reduction Act, repeals the 1993 tax increase on Social Security benefits. Repealing this increase on Social Security benefits is a good first step toward reducing the burden imposed by the Federal Government on senior citizens. However, imposing any tax on Social Security benefits is unfair and illogical. This is why I am also introducing the Senior Citizens' Tax Elimination Act, which repeals all taxes on Social Security benefits.
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, ``taxing'' benefits paid by the government is merely an accounting trick, a shell game which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
Instead of imposing ridiculous taxes on senior citizens, Congress should ensure the integrity of the Social Security trust fund by ending the practice of using trust fund monies for other programs. This is why I am also introducing the Social Security Preservation Act, which ensures that all money in the Social Security trust fund is spent solely on Social Security. At a time when Congress' inability to control spending continues to threaten the Social Security trust fund, the need for this legislation has never been greater. When the government taxes Americans to fund Social Security, it promises the American people that the money will be there for them when they retire. Congress has a moral obligation to keep that promise.
In conclusion, Mr. Speaker, I urge my colleagues to help free senior citizens from oppressive taxation by supporting my Senior Citizens' Tax Elimination Act and my Social Security Beneficiary Tax Reduction Act. I also urge my colleagues to ensure that moneys from the Social Security trust fund are used solely for Social Security benefits and not wasted on frivolous government programs.
Campaign for Liberty members who support ending double taxation should call their Representative and urge them to cosponsor HR 589, the Senior Citizens Tax Elimination Act.
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PDFTags: Ron Paul, thomas massie, Taxes