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Trump has even floated the idea ofeliminating federal income taxes on Social Security benefits.
Trump isnt the first lawmaker to propose an end to federal taxes on Social Security benefits.
New Bill: Can It Pass?
If these taxes are eliminated altogether, seniors previously affected will not have their benefits reduced by tax withholding.
That sounds good on the face of it especially if you are ababy boomerconsidering retirement.
But before making the leap, be sure you understand whats at stake.
When the fund becomes insolvent, some lawmakers have suggestedcutting retirement benefitsto deal with the shortfall.
That in turn could lead toMedicare cuts.
Boomers who delay retirement also delay having to depend on Medicare to pay their healthcare bills.
This could help the program buy time until lawmakers find other funding sources.
That alone could be reason enough todelay retirement.
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