Posted on 07/07/2025 10:59:02 AM PDT by Red Badger
Will it go back to BJ’s time?
If it did, the re would be a judge somewhere to declare it unconstitutional!...................
But why is the social security provision temporary? Was this a rules thing?
As usual the GOP Senate shot itself, and Conservatives, in the foot. While they have repeatedly demonstrated they have no problem spending trillions of dollars we don’t have taking care of any wack job foreight aid package, they absolutely hate having to do anything that actually benefits working Americans
No, it does nothing.
Nor does the “no tax on tips” nonsense.
I will note that the removal of the tax on suppressors and SBRs destroys the Constitutionality of the law.
“Boosting the amount that you get to write off when you already get to write off everything does not help you at all,” Kogan said. You mean tax deductions only apply to people who pay taxes?
I think the no tax on tips is also temporary, I think it expires in 2028.
A couple of reasons for these provisions, get votes from RINO Republicans and to make it a campaign issue, who in 2028 is going to pledge to end no tax on tips and raise taxes on social security two taxes that overwhelmingly favor the middle and working-class voter.
Could have fooled me.
There are people in and out of government who are not in the least bit interested in preserving Social Security benefits, as they so freely disburse them to people who are not eligible or deserving in any way, thereby running it down far more quickly than anything a tax break would do.
So, effectively the “Hyde anendment” blocked any meaningful social security tax relief — despite the campaign promises to remove taxes on pension incomes and distributions.
I am not a political expert. But it seems to me that the budget bill was the first real chance of removing taxes from retirement
Pensions like social security.
A increasing number of states don’t tax retirement. How can we get the (usually much greater burden of) federal taxes off retirees, too?
President Regan instated taxes on SS. There were none prior.
I assume if you claim standard deduction it does nothing
> What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. <
They could have gone for a tax deduction or a tax credit here. Evidently it’s a deduction, which is by far the less favorable of the two. 🙁
A tax deduction reduces your taxable income.
A tax credit reduces the amount of tax you owe, dollar for dollar.
(If I’ve got this wrong, someone please correct me.)
Congress imposed it. Reagan signed it into law.
Biden was a driving force behind it.
“But why is the social security provision temporary? Was this a rules thing?”
Yes. The reconciliation bill has to stay withing the budget window.
The ‘Byrd rule’ (yes, Joe’s demoKKKrat pal) prevented policy, only budget considerations from the BBB, so they say.
Yeah, now the NRA, GOA and conservative patriots everywhere are licking our chops over removing them from the NFA,
if not removing the NFA itself with original legislation.
Why not? Just resign it to the dustbin of bad ideas. Removing the tax was a half-measure.
1 1.”I assume if you claim standard deduction it does nothing”
Wrong assumption.
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