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[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 deduction for wealthy seniors means less tax going into social security trust fund. It will be depleted a year earlier.  Trustees just released report saying 2033. This change will make it run out by 2032.

Once it runs out, benefits are cut to level
Of revenues coming in. Congress will want to fix it but the level of debt this thing adds will make it even harder to fix the problem. [/quote] Congress will raise the cap on wages subject to SS taxes, currently limited  to 176K. Everyone knows this is the solution, talked about forever. It will have zero effect on the total debt.[/quote]

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