no taxes on Social Security is not that at all (surprise, surprise)

[Anonymous]

What Trump, Republicans in Congress, and even the SSA have billed as the elimination of taxes on Social Security is *not* the elimination of taxes on Social Security.

The BUB adds an additional $6,000/person deduction for tax filers 66+, phasing out beginning at $75,000/single filer ($150,000 per couple).

Note that most Social Security recipients barely owe income tax as it is: "Under current law, an estimated 64 percent of beneficiaries did not owe taxes on their Social Security benefit." The new deduction expands the group of non-owers to about 88%.

The new elder deduction only lasts til 2028, and, as usual, benefits baby boomers at the expense of Gen X, for whom Social Security will now run dry a year earlier.

https://www.nytimes.com/2025/07/06/your-money/social-security-tax.html

[Anonymous]

https://www.dcurbanmom.com/jforum/posts/list/1281746.page

[Anonymous]

Gotcha! I missed that thread. Will move my comment.

[Anonymous]

Anonymous wrote:

The new elder deduction only lasts til 2028, and, as usual, benefits baby boomers at the expense of Gen X, for whom Social Security will now run dry a year earlier.

https://www.nytimes.com/2025/07/06/your-money/social-security-tax.html

They didn't reform Social Security when proposed by W decades ago. Don't complain about Social Security running dry now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

The new elder deduction only lasts til 2028, and, as usual, benefits baby boomers at the expense of Gen X, for whom Social Security will now run dry a year earlier.

https://www.nytimes.com/2025/07/06/your-money/social-security-tax.html

They didn't reform Social Security when proposed by W decades ago. Don't complain about Social Security running dry now.

W. wanted to privatize Social Security in what would have been just in time for everyone to lose their money in thr global financial cataclysm cause by deregulation.