Taxing Social Security: From Reagan To Trump [Forbes]
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Source: Forbes
In this installment of the Five Minutes On series Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike examine the history of taxing Social Security benefits and former President Trump's proposal to stop taxing them. Five Minutes On is a video series produced by Tax Notes. This transcript has been edited for clarity. Robert Goulder: Hello, I'm Bob Goulder, contributing editor with Tax Notes . You know that the presidential elections are getting closer when the candidates start to throw around tax proposals. Well, we've seen several of them lately, and one that stands out is former President Trump's idea to exempt Social Security benefits. Currently, a portion of those benefits are taxable depending on how much other income a person earns. Now to help me work through this issue is my colleague Joe Thorndike, also a contributing editor with Tax Notes . Joe, thank you for joining us. Let me ask you, were these benefits always taxable? Joseph J. Thorndike: So no,
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