Social Security - Republicans call for phaseout of Social Security, pension taxes - Iowa House Republicans say that they are going to propose a plan that would exempt retirees from paying state taxes on pensions and social security, in order to discourage them from leaving the state, and hence allowing them to keep their investment capitol in the state of Iowa.
This plan does indeed benefit the individuals proposing it, but in turn it also benefits those whom it affects, even though the reasons may not be profoundly noble. Still, if benefits are offered to both sides, one should be content. The elderly would not have to pay taxes for pensions or social security, and due to this, they would not have a need to leave their homes, families, and lives. The state, in turn, would have a senior population with investment capitol, and hence the economy would benefit from this. Thus, in this matter, everyone has the oppurtunity to be content.