Who Benefits: The One, Big, Beautiful Bill Gives Seniors New Tax Relief

US House Of Representatives ^ | 05/28/2025 | House Ways And Means

[eastexsteve]

WASHINGTON, D.C. – The One, Big, Beautiful Bill fulfills President Trump’s promise to seniors and provides welcome tax relief after four years of inflation robbed their retirement under President Biden. Each senior will receive an additional bonus of $4,000 to the standard deduction, putting more money in the pocket of millions of low- and middle-income seniors.

[Wuli]

“This arrangement helps to hide from the employee the true amount of social security taxes being stolen from HIS labor c
contribution to the employer.”

If employees don’t know employers pay social security taxes equal to theirs, that is due to there own self-imposed ignorance and no it is not being “stolen” from “their labor”.

[crusty old prospector]

Steve, I don’t know what county you live in but I paid $7,144 in property taxes last year and $3,876 went to schools and $983 went to the junior college. That left $1,915 to the county and $370 to EMS.

[1Old Pro]

In my state, school taxes make up a small portion of property taxes. And, the state limits the amount.

In NYS School taxes are atrocious, well over half of your property taxes. And they are thousands and thousands of dollars.

[TexasGator]

“You are not in my league. As I stated, the $4,000 deduction has income limits. You are getting very, very sloppy….”

Thanks for correcting your errors.

1. It is a deduction, not a credit as you posted.

2. Y9u originally posted that it was only for incomes below $65k.

[Uncle Sham]

We are talking about social security cost to the employee, not all the other cost associated with operating a business. It is the individual employee who receives social security benefits at retirement, not his employer. These benefits come at a cost to that employee, half of which is misrepresented to him as being paid on his behalf by his employer. This is purposeful dishonesty as without his labor, there are no social security taxes generated and this PARTICULAR cost to the employer disappears. The entire cost relative to social security exist because of the employee’s Labor. His labor triggers this and pays the entire cost.

[eastexsteve]

Steve, I don’t know what county you live in but I paid $7,144 in property taxes last year and $3,876 went to schools and $983 went to the junior college. That left $1,915 to the county and $370 to EMS.

In Texas, districts are required to maintain a minimum property school tax rate of $1 per $100 of property value. The max rate they can adopt is $1.17 per $100 of property value. They must ask voters for permission to tax above $1.04 per $100 of property value. The average rate has been about $1.06 since 2006.

If you are paying what you think is an exorbitant rate, then check with the county assessor regarding value of your property. They may have assessed it too high. It should be inline with everyone else's in your area. Also, make sure you are getting all the exemptions you're supposed to be getting.

[Wuli]

You are economically ignorant.

“We are talking about social security cost to the employee, not all the other cost associated with operating a business. It is the individual employee who receives social security benefits at retirement, not his employer. These benefits come at a cost to that employee, half of which is misrepresented to him as being paid on his behalf by his employer.”

Nonsense. Nothing is misrepresented to the employee. The employer pays half the social security.

“This is purposeful dishonesty as without his labor, there are no social security taxes generated and this PARTICULAR cost to the employer disappears.”

Nothing dishonest except yourself. Without the employers expense of capital investment and many other things that are NOT PART OF LABOR, there is no business, no jobs and no income for labor, and no social security paid by anyone.

Revenue IS NOT MERELY a “return on labor”, period. It is a return on all the things the employer paid for.

You have a totally Marxist view of the economics of jobs.

[Uncle Sham]

Tell me, as all of the cost of having a business mount up, at which point does paying anything to social security take place?

[Wuli]

“Tell me, as all of the cost of having a business mount up, at which point does paying anything to social security take place?”

Businesses pay quarterly tax payments to the IRS, transferring estimated income taxes for the quarter and 100% of the FICA taxes, both the employees and employer’s portions. Treasury transfers the FICA taxes to the Social Security accounts.

Also, by the way, you fail to understand if (a) all the employer’s compensation was paid directly to you, including what is now the employer’s share of FICA taxes, which the employer then had to, by law, take withholding for and pay to the treasury, (b) that would be additional taxable income to you (FICA taxes are not tax deductible) which (c) you’d pay income taxes on at the income tax rate(s) for your working years, (d) which would likely be higher income tax rates than you pay in retirement, (e) and reducing your spendable income during your working years, which you can spend on savings and investments in those years if you earn above your needed expenses. The employer paying 1/2 the FICA taxes is not a deceit or rip off. It moves the income tax burden for those employer FICA taxes from your working years to your retired years, making a net tax savings between the two.