07-04-2025, 02:14 PM
I was soooooooo pissed off to see that tripe in my inbox this morning. Those emails should not be political.
I did read up on this the other day and there are income phase outs and for many people who don't pay tax on SS anyway, it will have no effect.
"And it turns out not all Social Security beneficiaries will be able to claim the deduction. Those who won’t be able to do so include the lowest-income seniors who already don’t pay taxes on Social Security, those who choose to claim their benefits before they reach age 65 and those above a defined income threshold."
https://apnews.com/article/trump-congres...67d3ef78cc
From AI:
"Specifically, it introduces a $6,000 deduction for those with individual incomes up to $75,000 or married couples with incomes up to $150,000, according to the AARP and the White House. This deduction phases out at higher income levels, and is not available for those earning over $175,000 (single) or $250,000 (married).
Income Thresholds:
The full deduction is available to those with incomes below $75,000 (single) or $150,000 (married).
Phase-Out:
The deduction decreases as income rises above those thresholds and phases out entirely at higher income levels.
The tax deduction is currently proposed to last for four years, from 2025 to 2029."
I did read up on this the other day and there are income phase outs and for many people who don't pay tax on SS anyway, it will have no effect.
"And it turns out not all Social Security beneficiaries will be able to claim the deduction. Those who won’t be able to do so include the lowest-income seniors who already don’t pay taxes on Social Security, those who choose to claim their benefits before they reach age 65 and those above a defined income threshold."
https://apnews.com/article/trump-congres...67d3ef78cc
From AI:
"Specifically, it introduces a $6,000 deduction for those with individual incomes up to $75,000 or married couples with incomes up to $150,000, according to the AARP and the White House. This deduction phases out at higher income levels, and is not available for those earning over $175,000 (single) or $250,000 (married).
Income Thresholds:
The full deduction is available to those with incomes below $75,000 (single) or $150,000 (married).
Phase-Out:
The deduction decreases as income rises above those thresholds and phases out entirely at higher income levels.
The tax deduction is currently proposed to last for four years, from 2025 to 2029."
![[Image: IMG-2569.jpg]](https://i.postimg.cc/Jn06m2gT/IMG-2569.jpg)
Whippet, Whippet Good