General Discussion
In reply to the discussion: What is wrong with the tax cut for SS recipients. Although I will save [View all]RandomNumbers
(19,037 posts)But if you do nothing regarding your withholding, this provision does nothing for your monthly check.
You just highlighted another trap with Trump's misleading communications - if people think he has eliminated the income tax on SS, then they are mistaken. You will STILL owe tax according to the revised formula. Maybe a fraction of seniors - possibly including yourself - fall into a golden zone where this would eliminate your tax on SS - I haven't done the numbers myself, just read reliable reporting on this.
It doesn't change the fact that this is an ultimate loss for most seniors, and that Trump's SSA blatantly lied about it in their email. And that your benefit, should you receive one, is at the expense of taking away assistance from many of the most needy Americans. When it could have been done in a different way, that did not hurt others so much.
More:
https://govfacts.org/explainer/how-the-one-big-beautiful-bill-impacts-social-security/
N.B. - I am nearing retirement; if I retire soon I personally "benefit" (temporarily) from this provision of the Big Bullshit Bill. But you know, I am not interested in making more money on the backs of the disadvantaged. I am not interested in gaining a little now to lose much more later, with a broken contract. (Note that the aforementioned Windfall Elimination Provision seems to have been "phased in" so that people knew what was coming and had an opportunity to adjust - i.e. not a breach of contract. WEP possibly needed fixing, but again, the politically driven Congress chose to do something that they could make "LOOK GOOD" while actually making things worse.)