General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFrom 2025 through 2028 the conman in the white house is eliminating taxes on social security for those
those 65 and older, calling it a senior bonus.
"The "big, beautiful bill" features a new tax break for older Americans who pay taxes on Social Security income. But there's a significant catch.
Why it matters: The break leaves out the poorest seniors who already don't pay Social Security taxes and the very rich ones, too.
How it works: Both the House and Senate bills include an increased tax deduction for tax filers age 64 and older. In the Senate version, the new deduction is $6,000 for individuals and $12,000 for couples.
The deduction starts phasing out for those who earn over $75,000 ($150,000 for couples), and phases out completely at $175,000 for individuals and $250,000 for couples, in the Senate version.
The break expires in 2028 when President Trump leaves office, as do a few other White House priorities in the bills, including no tax on tips, no tax on overtime, and no tax on auto loan interest."
https://www.axios.com/2025/07/03/big-beautiful-bill-social-security
Keep in mind this provision in the bill expires when trump leaves office, will hurt the poorest, accelerate Social Security and Medicare insolvency.
No surprise that trump's social security administration is "applauding passage of this legislation, providing historic tax relief for seniors", but ignoring the consequences.
The bill is also eliminating taxes on tips subject to limitations, and also expires in 2028 when trump leaves office.
All this will significantly increase the deficit at the expense of decreasing Medicaid benefits, healthcare services, and other vital services.
While most objective people can see right through this con, the diabolical, deceitful hope of trump and his republican thugs, is that it will deceive older Americans over 65, and the younger population which earns their wages through tips to impact the midterms in 2026, and the presidential election in 2028.
Most in the demographics affected may not realize or worse, not care that it is selling the future of social security, medicare, and the poor and middle class down the toilet, for the illusion of short term gains.
This is how he hopes to win the midterms and the next presidential for the next republican THUG.
This is Project 2025 on steroids, and will be the destruction of the middle class, and permanent rethug rule.
The question is, can those poor, working poor, and those who won't realize any of the short term benefit from this deception be enough to vote them out in 2026 and 2028? That will be the last hope for our Democracy.
Tadpole Raisin
(1,977 posts)and be like an avalanche on his head. Maybe that is what he wants.
The only thing people have to be careful about is not to have violent protests because he will suspend habeas corpus or invoke the insurrection act by calling it an invasion (not that it would have to be violent to do it). Elections? Hmmmm.
He wont care if it is illegal.
My God Ive never despised anyone more than him.
Not going to sleep tonight!
lostincalifornia
(5,518 posts)see immediate financial benefit.
That isn't "little crap", that will be significant to those people affected, because it will put more money in their pocket, and when it expires in 2028, and they won't realize what they have lost because it will be too late then.
The only possible saving grace is if there are enough people who are not affected by those short term benefits, and they vote the thugs out.
That is far from certain.
videohead5
(2,996 posts)That these tax cuts go away in 3 years and to promise to make some of them permanent.
Greg_In_SF
(1,312 posts)"We are extending the Trump tax cuts!"
videohead5
(2,996 posts)I'm not talking about the tax cuts for the rich.
Tadpole Raisin
(1,977 posts)those things alone could well exceed any financial benefit they might get.
And even if they arent impacted by the other changes they will see others around them who are deeply affected.
It would be very difficult then to remain unaware that their short term benefits would run out and then they could be far worse off especially as their state scrambles to find ways to balance their budgets as other state and local services are cut, eliminated, or prices go up.
The domino affect will make their gain look like bread crumbs and they will realize they have been conned. Im sure the more in depth analysis of the bloated bill will be forthcoming. It wont be pretty.
Jack Valentino
(5,244 posts)~The French, 1793