Social Security was designed to provide Americans with peace of mind. It was created so that after a life of work you can hang your hat without worrying about paying for groceries. Unfortunately today that money continues to shrink and shrink. Not only does the state of Minnesota tax this as earned income, so does the Federal Government. Meaning that not only did you pay the taxes on it when you paid in, but when you ask for the money back after retirement they tax it again. Our retired Minnesota citizens need relief.
As a 24 year old I have no hope of ever seeing a paycheck from the Social Security program which I pay into. Unfortunately no action we can take can fix this broken system, but that doesn’t mean we need to punish those who depend on this income. For many retired Minnesotans on a fixed income a few extra hundred dollars a month can buy more food or pay for gas to visit the grand kids. Governor Walz has even said that completely removing the Social Security income tax would result in “Eliminating this will give the most massive tax break to the very wealthiest Minnesotans, who aren’t depending, to live, on Social Security”
Let that sink in.
Our Governor just said that by not taking money away from Minnesota retirees we are creating…a problem? How can getting your own money back create an issue for the government. Well all you need to do is realize the Government produces Nothing.
All the government does is collect YOUR money. They have no right to it. Yet Governor Walz seems to think it’s his. If elected I promise to eliminate, in its entirety, the Social Security Income tax. The senate already has proposed plans, and legislation to do this while also cutting taxes for the lowest-tier income tax rate from 5.35% to 2.8%.
These are long overdue. It’s your money, and you know how best to invest it, not some bureaucrat in St. Paul.