Attention retired baby boomers: According to the IRS tax laws, when one-half of your social security and all of your other income reaches $32,000, the IRS adds your social security back into your income and you are double taxed, up to 85 percent of your social security.
Fact: You paid federal taxes while you worked putting money into social security. Now that you are retired, the IRS forces you to add up to 85 percent of your SS back into your income. This affects all seniors that have a decent pension, or those who must take the required minimum distribution from their IRA at age 70 1/2 and older. This is totally unfair.
The $32,000 number has not changed as social security numbers have increased with yearly adjustment increases. Again, this is totally unfair. Now that baby boomers are retired, they are paying much more than their share of federal income tax collected by the IRS.
Petition the federal lawmakers to change this policy now. I started a petition at change.org. If this bothers you, please consider signing this petition.