Double taxation on retirees: ‘How can that be fair?’
Many Pennsylvania retirees without pensions receive income from 401(k), IRA or annuity accounts to supplement their Social Security. It must be remembered that for those who worked their careers within Pennsylvania, state taxes were already withheld on that income when they deposited it into the IRA, annuity or company 401(k).
Therefore if the state decides to tax this retirement income upon withdrawal according to state Rep. Frank Ryan’s plan, they are taxing the seniors twice.
How can that be fair? How would everyone like it if the government suddenly decided to tax your Roth IRA withdrawals?
Stephen Pohowsky Lower Macungie Township