Why should family leave be a part of Social Security?
A bill was introduced this month that would “allow parents to use Social Security benefits to pay for new-parent leave.” The Economic Security for New Parents Act (S.3345) would “borrow from the Treasury in the short term running a deficit, but it would recoup costs and break even fully...
Federal Income Tax on Social Security Benefits
When Social Security was initiated (1935), it was excluded from federal income taxation. The Treasury Department’s underlying rationale for not taxing Social Security benefits was that the benefits under the Act could be considered as “gratuities,” and since gifts or gratuities were not generally taxable In 1983, Congress passed...