Social Security benefits were excluded from income taxes until 1984, when changes signed into law by President Ronald Reagan introduced taxes on Social Security income above a certain threshold.

Reagan’s tax on Social Security was capped at 50% of combined income, while Bill Clinton increased the maximum to 85% in 1993. Inflation and rampant Congressional overspending has only increased ...

Social Security benefits were excluded from income taxes until 1984, when changes signed into law by President Ronald Reagan introduced taxes on Social Security income above a certain threshold.

Stock image/file photo: A Social Security card with U.S. Dollars. GETTY What To Know. The deduction begins to phase out at a modified adjusted gross income of $75,000 for individuals and $150,000 ...

Social Security generates income three ways: The 12.4% payroll tax on earned income, ... Security Amendments of 1983 were passed by Congress and signed into law by then-President Ronald Reagan.

The income tax on Social Security benefits should not be repealed. In fact, it should remain. In 1984, the tax was introduced in an effort to fix the program’s finances.

The income tax on Social Security benefits should not be repealed. In fact, it should remain. In 1984, the tax was introduced in an effort to fix the program’s finances.

Trump Pledged ‘No Tax on Social Security.’ The Tax Bill Says Otherwise. House bill’s proposed $4,000 senior deduction falls short of eliminating taxes on Social Security benefits altogether ...

Key Points. Income tax on Social Security benefits for individuals earning over $25,000 began under President Ronald Reagan and Alan Greenspan in 1983 to help cover the shortfall in the Social ...

Reagan’s tax on Social Security was capped at 50% of combined income, while Bill Clinton increased the maximum to 85% in 1993. Inflation and rampant Congressional overspending has only increased ...