Tag: low incomes and poverty
A March blog post pointing out that a large majority of America’s older population pay no federal income tax seemed to surprise some readers – particularly retirees who must send checks to the IRS at this time of year. “[M]y annual tax liability is and will continue to be greater than when I was employed,”…
Poverty is the scourge of women in old age. This problem was aggravated, according to a new study, when older workers started claiming their Social Security benefits sooner after the earnings test was lifted in 2000 for those who reach the program’s full retirement age. The earnings test withholds benefits from older workers earning mor…
