My father, like many other seniors is struggling to survive in this country have paid their fare share of taxes in their lifetime. Start out from their first job till the day that they die, they are shelling out money to Uncle Sam. A lot of seniors struggle to pay bills, go grocery shopping and it’s even worse if they are disabled or impaired. With that being the case I believe that nobody after the age of 55 should be paying any tax. No property tax, no income tax, and I’d even go as far as saying that when they cash out their retirement funds, they shouldn’t have to owe some crazy percentage to the fed or state. If you the government must take a piece of retirement funds make it a small percentage between 5&10%.
Doing this will not only help seniors enjoy their lives after working and raising a family their whole life, they will also have more money to leave to their children which will indeed create generational wealth. I believe that this is a core principle of “living the American dream”. Why should you spend 30 years owing the government money and then have to still owe them someway some how with a fixed income? It’s not fair, there are plenty of youngsters in this country like myself who would be just find to continue paying taxes if it means our parents and grandparents can live with ease.