Social security benefits will increase from "summary" of The Fair Tax Book by Neal Boortz,John Linder
Social Security benefits will increase under the FairTax plan. Currently, Social Security benefits are subject to federal income tax. This means that as a person's income increases, a larger portion of their Social Security benefits are subject to taxation. Under the FairTax plan, there is no federal income tax. This means that Social Security benefits will not be subject to taxation. As a result, retirees will see an increase in their overall income. This is because they will receive their full Social Security benefits without any deductions for federal i...
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