Trump's huge $1.8 TRILLION tax cut to win over an essential group of voters (Social Security)

Daily Mail ^ | 8/07/24 | Sarah Ewall-Wice

[DIRTYSECRET]

*If older people weren’t favored by the benefits system, older people would bolt the USA(or UK) as soon as they reached retirement age, or way before.*

Fine. They move to Thailand and put up with the heat. A lot easier to get laid too. Women? They’d like it there if there was no reason to be afraid. Send their SSI checks there. Live like kings and queens.

[Brian Griffin]

File a federal tax return as an “individual” and your combined income* is
Between $25,000 and $34,000, you may have to pay income tax on up to 50% of your benefits.
More than $34,000, up to 85% of your benefits may be taxable.

File a joint return, and you and your spouse have a combined income* that is
Between $32,000 and $44,000, you may have to pay income tax on up to 50% of your benefits.
More than $44,000, up to 85% of your benefits may be taxable.

Are married and file a separate tax return, you probably will pay taxes on your benefits.

* Your adjusted gross income
+ Nontaxable interest
+ ½ of your Social Security benefits
= Your “combined income”

https://www-origin.ssa.gov/benefits/retirement/planner/taxes.html

I can see where the 50% might come from, the employer share of FICA, but the justification for going up to 85% escapes me.

[Dr.Deth]

But this latest proposal made on Fox and Friends is the most significant and expensive yet, costing the government $1.8 trillion over the next decade

Whose money is it if they never seize it to begin with? Apparently this nimrod presumes that it all belongs to the government to begin with, and anything you are allowed to keep is by their grace alone.

You think you hate journalists enough, but you don't.

[HereInTheHeartland]

“ seniors are forced to get jobs just to make ends meet.”

Those probably aren’t paying taxes on it.

[ifinnegan]

It seems like double taxing.

[kiryandil]

LaBosco shared that [Lieutenant Colonel Tulsi] Gabbard is unaware she has two Explosive Detection Canine Teams, one Transportation Security Specialist (explosives), one plainclothes TSA Supervisor, and three Federal Air Marshals on every flight she boards.

It appears as though the government can afford it.

So, the government and its Gaslight Media better shut their whining pieholes and cough up the scratch.

[DennisR]

Thank Bill Clinton for that.

[Brian Griffin]

“Then move to Thailand and put up with the heat.”

I was in Spain.

In southern Spain I would sometimes ask a question in my miserable Spanish and get asked if I happened to speak English by a UK expat.

If I wasn’t getting Medicare, I probably would have filled out a Lebanese residency application.

They have air conditioning in Thailand, just as in Florida. And I suspect household help is cheaper in Thailand.

[ealgeone]

It’s gubmint. They will never willingly give up any money source.

[teeman8r]

cutting taxes only costs the government when democrats run things

[chrisser]

Was already going to vote for him. He didn’t have to sell me.

[DennisR]

That is okay, but Trump needs to decrease the evil spending that is our biggest national threat,

[Brian Griffin]

The objective should be to treat people fairly.

conservative <-> fairness

leftist <-> equality, even if not fair

[Brian Griffin]

Income tax on benefits
2023 $49 billion
2024 $51 billion

https://www.ssa.gov/policy/trust-funds-summary.html

$1.8 trillion?

[impimp]

the people who need social security relief are the people who pay the social security taxes who have kids….helping seniors at the expense of the young who pay for it is misguided

[wjcsux]

“I never knew that SS was taxable until I started doing my parents’ taxes.”
Your parents can thank dickhead Bill Clinton for that gift.

[texas booster]

I can see where the 50% might come from, the employer share of FICA, but the justification for going up to 85% escapes me.

In 1986 when Congre$$ changed the law to make SS benefits taxable.

Self Employment taxes are 15.3%, 7.65% from you and &.65% from your employer.

That's close enough to 15% for Congress.

[texas booster]

Until 1986, social security benefits were not taxed.

It was “unseemly” to NOT have millionaires pay taxes on monies “they didn’t need”.

[cpdiii]

I paid social security and that was my money. I paid the maximum rate from the time I was 21 years old until retirement at 69 years of age. My employer also paid the same amount to my account. The government put it in the general fund and spent it, courtesy of our government. They did not invest it even in low percentage government bonds. They just took it! Now they give me back my money and tax it again as new income.

THAT WAS MY MONEY YOU THIEVING BASTARDS. Why must I pay taxes on my money you took from me?

[crusty old prospector]

But he felt their pain.