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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]For people in their 40s/50s who think BBB is great... do you all not realize that we have paid a sh*^ ton into social security but we won't be getting our due now because of this bill?

The BBB doesn't really save that much in taxes for most of us; it does for the rich. But, what it does do is balloon the deficit and make social security insolvent even faster.

[quote]The Tax Policy Center, which provides nonpartisan analysis of tax and budget policy, projected the bill would result next year in a $150 tax break for the lowest quintile of Americans, a $1,750 tax cut for the middle quintile and a $10,950 tax cut for the top quintile. That's compared with what they would face if the 2017 tax cuts expired.[/quote]

https://www.yahoo.com/news/house-gop-clears-key-hurdle-075405529.html

It this really worth ballooning our deficit and gutting social security for the future?

- signed a former R now Independent[/quote]Please explain the changes to Social Security.  I am not aware of any.[/quote]

The tax cuts of the rich mean that our government will go bankrupt much sooner than expected. So don't count on your Medicare or Social Security.[/quote] Social security is funded separately, BBB has no effect on SSI taxes that fund SSI. Stop trying to scare people, no one buys it. [/quote]

You know that social security and income taxes get combined and spent together, right?[/quote]Not true. Social security taxes and trust fund bond interest fund current SS benefits. When SS taxes exceed benefits, the excess goes to the Treasury, but the Treasury issues a bond to the SSA trust fund for the amount of the excess. So nothing to do with federal income tax.[/quote]

Until the OASI Trust Fund is exhausted and requires a general fund infusion to pay full benefits. That’s less than 10 years away. [/quote] No. SS is pay as you go by law. Benefits will have to be reduced, unless the law is changed. BBB has no effect on this. Reality is the cap on SS taxes will have to be raised. [/quote]

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