Social Security benefits are subject to federal and sometimes state taxes, a point of contention for retirees. Proposals to eliminate these taxes, including one from Donald Trump, face challenges due to the potential $1.5 trillion revenue loss over a decade and the impact on Social Security’s solvency. Social Security benefits are subject to federal and sometimes state taxes, a point of contention for retirees. Proposals to eliminate these taxes, including one from Donald Trump, face challenges due to the potential $1.5 trillion revenue loss over a decade and the impact on Social Security’s solvency. Economic Times