The problem is not retirement age (5/28/25 Allison Schrager). Taxing all income, municipal included, at the same rates with SS/MC deductions, without caps, would do much to resolve the SS/MC funds projected insolvency. Taxing capital gains at year end, realized or not, would add stability to the stock/bond markets. Recognizing losses up to the amount of taxable income would eliminate loss harvesting.
Taxing all income, wages and other sources, equally is a solution to the problem I have not read about. All income could be subject to state and federal income tax and SS/MC deductions. Anybody who is receiving capital gains, interest, dividends, estate distributions or other income should be able to pay those taxes and deductions.
Deferring the early retirement age option will help but not nearly as much as full and equitable taxation of all income sources.
People are also reading…
James Abels
Midtown
Disclaimer: As submitted to the Arizona Daily Star.
Follow these steps to easily submit a letter to the editor or guest opinion to the Arizona Daily Star.
