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Reply to "no taxes on Social Security is not that at all (surprise, surprise)"
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[quote=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[/quote]
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