BOHEMIA, NY, Apr 29, 2011 – The Association of Mature American Citizens says it is focused on a new cause—the double taxation of senior citizens. Dan Weber, AMAC’s president, says it is “appalling” that many seniors on social security must pay income tax on their benefits and is calling on Congress to address the issue promptly.
“The government is taxing their taxes, and that is just plain unfair” Weber notes in a new campaign calling on all seniors to join AMAC in its “demand that tax reformers on the Hill take a closer look at this particular, peculiar inequity in the law that decidedly targets older Americans.”
He gives as an example a person with a combined income of $38,000, (assuming $24,000 in Social Security income) would have half of his or her Social Security taxed. That person would fall into the 15% tax bracket resulting in $1,800 in extra tax on their Social Security income. In fact, when total combined income exceeds $44,000, 85% of the individual’s Social Security gets taxed, typically resulting in an extra tax of $3,000 or more. [See Social Security publication 915 to figure your combined income].
“These folks accumulated Social Security benefits in the first place by paying taxes and now the taxes they paid are being taxed.
AMAC has designated its Web site, www.amac.us, as the rallying point for its new cause and is asking “seniors and their families to visit and express their opinions and tell their own stories on this and other issues affecting them.”