I’m an Active Duty service member(Army) with 26+ yrs of service. I am about to retire. I feel Active military service in any branch should be tax free while in service. This tax free should extend to anyone that retires (20 yrs) from military service for life on all retirement benefits. 0.04% of the US population currently serves in the military. Between 1-2% of the population has retired from the military with 20 yrs or more of service time. This would be a great way to meet recruiting goals, retention numbers and pay back a self sacrifice for our great country.
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I concur with Andrew. I did 30 years in the service and have been retired for 15 years. One of the things that bothers me the most is having to pay taxes on my military retirement. I served through many 6-9 month deployments where I missed holidays, birthdays, anniversaries and such. One of the benefits for enduring those sacrifices for so long is a pension. This benefit is minimized by the fact that we have to pay federal taxes on it. It’s bad enough that we were taxed while we served, but to do the same after we retire is down right criminal.
I think this is a great idea. I retired from the military after 22 years of service. Most American citizens don’t realize that a large portion of active duty service members have a difficult time purchasing a home. Not just because they don’t have the funds to do so but because you transfer duty stations often. I transferred every three years when I was in the military, it made it very difficult to buy a home.
Tax-free would definitely help in recruitment, that’s for sure, but it would help retirees like myself also.
I’m really proud that I had an opportunity to serve my country. The military retirement pay definitely helps but, it’s really not such a great benefit if you’re just using it to pay on your mortgage. Citizens that didn’t serve in the military can I have a house pretty well paid for after 20 years