Those who have served our country for 20+ years or received a medical retirement due to their service to this country are the smallest percentage of the 1% of our nation of citizens. Providing a tax free status of that pension or changing it to a tax free allowance would be beneficial to the veteran.
Making miltary retirement tax free has several benefits:
- It would lower the official income of homeless/ poverty level veterans, which would allow for greater access to income based programs.
- It would provide additional income to veterans to invest back into the economy or to use to towards a home or children’s higher education.
- It would provide a recruitment incentive for those to reenlist in the miltary and complete a full 20+ year career. (This would also decrease the initial recruitment necessity and reduce training costs).
Due to the small number of individuals this would apply to, and the benefits listed above costs to support this would be minimal.
Those who have served have sacrificed so much and to give those who have served the longest or physically gave until they could no longer, deserve the benefit from the USA.