Posted on 07/04/2025 4:56:09 AM PDT by vespa300
The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.
The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy.
“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned."
The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples. Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.
Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them.
(Excerpt) Read more at ssa.gov ...
Perhaps it got changed back to ‘no tax’ as indicated by this post from SS.
However, I am certain those states that tax Social Security benefits won’t give up. In the Peoples Republic of Minnesota, Land of 10,000 Taxes, those taxes are “needed” to fund benefits for the illegals not to mention free tampons in mens rooms.
Double taxation is not right no matter what a person's total retirement income currently is. Everyone is taxed on their withheld SS income at the time they earned it. A worker is taxed on their entire paycheck, then SS is withheld.
Actually she can still legally file as “Married” for two years after your passing if you still have dependent children at home. It’s called “Qualifying Surviving Spouse” status. I was able to use this because my 16 yr old son was living with me after my wife died in 2018.
Actually, I do understand it - my point is that the way Trump touts it is
incredibly disingenuous.
“Why the hell are we taxing Social Security”
Uh—because .gov loves us and is our friend?
Lol.
I waited more than 90 days. I finally called them and they got it straightened out very quickly. Someone wasn’t doing their job.
“Paid for by more debt”
When did we think we had to pay for the government not taking our money??
Isn’t Omar a “Minnesota Woman”?
I think she just wants me for my money!
“I waited more than 90 days. I finally called them and they got it straightened out very quickly. Someone wasn’t doing their job”
Did they they pay you retroactively?
I did call yesterday, but just had other things to do (for now) as the wait was “greater than 120 minutes”
the real value they seek is your filing... ceaseless filings... that information you file is pure gold/platinum for government types.
I think I was on hold for more than an hour. It was actually after their official closing time that my call was answered.
I believe I may have gotten a supervisor because she was upset that my application had sat in limbo for so long. She said “hold on, I'm sending a message right now”. She said I should receive something from them via email the next day. I did.
“When did we think we had to pay for the government not taking our money??”
“Our money”???
If you have a private pension and you made contributions to it when you are working, and your employer made equal contributions to it as well. You paid in 50% of the contributions that would fund your pension, and your employer paid in 50%. You received that COMPENSATION from your employer, but since your employer paid their portion directly, you were not taxed on that employer’s contribution while you were working, and while you were in a higher tax bracket than likely to be the case in retirement.
But then in retirement that portion of the retirement attributable to your own contributions is not taxed - you already paid taxes on those contributions when they were deducted from your cash pay.
But the portion of retirement attributable to the contributions from your employer represents the taxable portion of your pension.
Social Security is no different - individuals paid half, employers paid half and the taxable and not taxable portions are calculated the same as for private pensions.
Yes, to pay this latest vote buying rule will come from some of the additional borrowing, because the funding process for social security has no other way to cover the new giveaway. You can’t say it will come from “general revenues” because they are in deficit already.
“I’m optimistic that Trump will address the national debt one way or the other. “
I am not. Getting by with less debt has never been part of his business DNA. He likes to assume GDP growth will be able to take care of it. That is, to me, a risky wish, because it depends on successive administrations that will follow him, with no guarantee, no law that requires paying down the debt.
Tons of federal assets now - land - should be sold and all proceeds going to pay debt, until the debt to GDP ratio is back to 2008 levels at least, and interest on the debt as a percent of the budget similarly gets back to 208 levels.
“That’s where most of the previously borrowed money came from. The SS Trust Fund is just a bunch of IOUs. “
So now there will be more.
The administration says that the number of Social Security recipients that don’t pay tax on Social Security will move from 64 percent to 88 percent.
It doesn’t match his campaign promise exactly since he is not a dictator.
Nowm next time, if you are so wounded by it you can vote democrat. Just that simple. And let them finish destroying the country if it makes you feel better. Or as the county song says, if it feeling bad makes you feel better, then have at it.
“Yes, it did. Where did you get that it wasn’t? This was a tax bill.
No, it does not. Where did you that that is was?
A new tax bill would have required sixty votes to bring it to the floor of the Senate, and that was not going to happen.
This was not a standard tax bill. We have an internet, look it up. Don’t expect me to do your research, although the fact was heralded all the past days, daily.
Not exactly. The deduction starts to be reduced after $150k, but doesn’t disappear until $275k.
No one said a new tax bill. Your reading comprehension sucks.
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