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This is CBSi on the world. I'm John Batster. Professor Richard Epstein all smiles as I am because we're turning to the tax code

Which is the challenge to explain so I won't attempt it. There is one aspect of the tax code I've read about most

recently in an excellent article to Nash review online. Social security checks of which

I am a recipient and I'm glad to be here. It took some luck. However, I learned that my

Social Security check that comes every month, thank you very much, is taxed. Oddly, I thought to myself, why are they taxing something that I contributed to all my

working life and continue to because I'm still working?

What I've learned is that it was not taxed until 1979 under the Carter administration

when suddenly it was taxed 50% of it. And then under the Clinton administration in the late 20th century, that percentage I believe was raised to 85%.

The whole puzzle to me, Richard, and there is a proposal by former President Trump to eliminate tax on Social Security is that

the the tax is the government taking back what it said was it was reserving for me or the worker for 40 years or more and it

seems a very strange decision on the government's part.

Because they're taking the revenue and using it as they will.

It's not about the retired people who are needful.

Okay, let's just start from the beginning, all right? The root of this problem of how you

tax Social Security comes from the fact that you have no idea of exactly what kind of a

fund it is. And so if you invest today in a tension fund,

...