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Showing Original Post only (View all)What is wrong with the tax cut for SS recipients. Although I will save [View all]
substantially on taxes it also takes funding from SS. What it does is increase the deduction
for retirees on SS. Instead, they could have raised the threshold for taxing SS income and removed the cap
for SS taxes it would have given middle class retired Americans a tax cut and the extra taxes paid by the rich would have put money into the SS trust instead. In the short run it will give some a tax break but after 2032 I read everyone's benefits will be cut. The cap on SS is still there for the rich while the trust fund will be depleted. Most will praise Trump for giving them a tax break not knowing 7 years from now them and
future generations will be screwed.
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In my view the strategy is even shorter than that. Both the no taxes on social security, and the no tax on
lostincalifornia
Jul 2025
#20
The bill does not eliminate nor directly reduce taxes on Social Security Benefits
Wiz Imp
Jul 2025
#27
It gives some seniors an addition deduction on their tax returns. Ultimately it means ...
CousinIT
Jul 2025
#60
Those that currently pay taxes on social security, would get those taxes back in the form of a credit on their
lostincalifornia
Jul 2025
#33
Kamala Harris is our duly elected president, and I'm pretty sure everyone knows it deep in their hearts.
BComplex
Jul 2025
#14
Yes, but it only applied to higher income beneficiaries, not those with modest incomes, and was part of the
lostincalifornia
Jul 2025
#22
Republicans hate Social Security, they've hated it from the beginning. They've done their best to try and destroy it.
Walleye
Jul 2025
#7
No, it does NOT take any funding from SS. In fact it has nothing to do with SS.
lostnfound
Jul 2025
#12
? Taxes paid on Social Security DO go back into the Soc Security Trust Fund, not the treasury..
CousinIT
Jul 2025
#61
It is a Machiavelli con along with the "no tax on tips", both set to expire in 2028 when trump's term ends.
lostincalifornia
Jul 2025
#13
No. Because of the bill being a reconciliation bill they actually could not touch the SS trust fund, so they...
Ol Janx Spirit
Jul 2025
#21
True, but it's being used to claim that Dear Leader in his mercy has removed the tax on SS income.
Ocelot II
Jul 2025
#36
But there are also millions of people under 65 collecting SS benefits who get no tax breaks at all from this bill.
Wiz Imp
Jul 2025
#42
Still, it's not connected to SS. A couple million people or so will never get SS
Ocelot II
Jul 2025
#43
Yup. That's how it works, but Krasnov wants us all to think that he, in his munificense,
Ocelot II
Jul 2025
#52
The Social Security Fairness Act legislation passed last year did shorten the trust fund solvency
MichMan
Jul 2025
#63
It's a deduction taken at tax time, not a monthly increase in your check.
RandomNumbers
Jul 2025
#67