If you live outside the US, you may never owe taxes on your social security pension, no matter how much your overall income is.
Normally, a US social security pension can be taxable if the person's overall income is a certain amount higher than just the pension income (for instance, from IRA distributions).
However, there are countries that have an agreement with the US that government pensions of both countries aren't taxable, for people that are citizens or residents of both countries.
So no matter how much your overall income would be, your US social security pension (as well as your foreign government pension), would not be taxable.
It's an interesting twist to the tax treaties between the US and some countries (including Israel).
Your tax return will need to be prepared in a special way to claim the non-taxability of your social security payments.
Although treaty provisions normally need to be declared on a special disclosure form, for social security pension you will not have to fill out this disclosure.
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