I turned 65, signed up for social security. The person handling my application asked me what percent for taxes I want deducted from my monthly allowance? I said the president said no tax on social security? He said that's if it's the only income I had, I have a pension of 35 thousand a year. I'm getting $1400 a month, that's less than 18 thousand a year from social security, who can live on that alone? Without my pension I would be homeless on social security alone. The president tell half truths.