Double Taxation on Seniors

Dear Newsmax Reader: Please find below a special message from our sponsor, Association of Mature American Citizens. They have some important information to share with you. Thank you. Newsmax.com DOUBLE TAXATION OF SENIORS Where is the Outrage? With a double taxation bulls eye placed squarely on the Social Security benefits of older Americans, The Association of Mature American Citizens is crying foul! AMAC the leading conservative alternative to the AARP believes this just isn't fair and is calling on all seniors to join them in it's demand that tax reformers on the Hill take a closer look at this, peculiar inequity in the law that decidedly targets older Americans. Dan Weber president of AMAC 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. 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]. 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." VISIT THE ASSOCIATION OF MATURE AMERICAN CITIZENS AT: http://www.amac.us/ Those receiving Social Security benefits receive those benefits because they paid taxes to begin with. Now they are being ask to pay taxes on the taxes they already paid! If you want to have AMAC be your voice in Washington and in State Capitols on important issues like this Join AMAC! Membership is $15 per year for member and spouse and you'll receive our quarterly magazine as well as regular updates on what is happening. Let AMAC be your advocate as we speak out for smaller government, restoring financial sanity and the traditional American values that have made us great! You will be offered many discounts for being an AMAC member but the best benefit you'll receive is to know you are helping our country at a time when your voice is needed most! Join the AMAC Army We Need YOU! 1-800-255-4199 Thank you, Dan Weber President, AMAC