Got an Email from Social Security today.

[Old Crank]

They are bragging that a large number of Social Security recipients will no longer be taxed on their benefits.

What they didn't mention was the billions of dollars this takes out of the trust accounts. Income taxes levied on Social Security go back to Social Security to be used later. This means that the time frame to exhaust the trust fund will come sooner that the last report stated.

Another way to hack away at the system.

Start your campaigns now to raise the amounts to be paid into the system and raise the max salary limit into the system.

[MichMan]

1. Candidates in 2028 can campaign on not renewing this tax break for Seniors once it expires

[RandomNumbers]

2. How will that go over?

(or was there an implied sarcasm emoji that I missed?)

[MichMan]

4. I've seen multiple posts stating that this provision isn't good.

Since it expires after the 2028 tax season, it wouldn't even have to be repealed. I'm guessing that extending it (or not) will likely be talked about in the campaigns.

[RandomNumbers]

5. I would recommend Democrats find other things to talk about.

It is bad policy.

See my post here.
https://www.democraticunderground.com/100220458137#post5

[FBaggins]

3. I don't think social security checks have FICA deductions

Plenty to criticize on this bill… but I don’t think that’s one of them

[Wiz Imp]

6. "Income taxes levied on Social Security go back to Social Security to be used later. ""

Completely false. Income taxes on SS go into the regular treasury fund of the US, just like ALL OTHER income taxes.

This has ZERO impact on the SS Trust fund and its ability to pay out future benefits.

[Old Crank]

9. Sorry, per their website

Federal taxes levied on Social security go to the trust fund.
Here is a link that explains the history. A ways below 1983 includes the statement that the taxes raised go to trust funds.

https://www.ssa.gov/history/taxationofbenefits.html

[Wiz Imp]

10. I apologize. I made an assumption and was wrong.

The main reason for my assumption is I don't understand how they determine how much of the tax collected is from the SS benefits. For example. Say I receive a pension that pays me $50,000 a year. That is 100% taxable. Say I also receive $10,000 in SS Benefits. Since my other income is over $34,000 (I'm filing as single), that would make my SS Benefits 85% taxable, So my adjusted gross income is $58,500 ($50,000 pension + $8500 SS Benefits). Say I take the standard deduction ($14,600 for 2024). I subtract that from my AGI to get $43,900 for my total taxable income. So I pay taxes on that amount. What percentage of those taxes are considered to be on the SS Benefits?

So the new bill gives an added deduction of $6,000 to those over 65. But since bill was not allowed to touch SS, then it seems to me that $6,000 would need to be subtracted from the other income and not the SS Benefits which are taxable, so that would mean it would have little or no impact on the taxes collected on SS Benefits going back to the SS Trust fund. It's all so needlessly complicated.

[ibegurpard]

7. A lie

https://apnews.com/article/trump-congress-big-bill-tax-social-security-adea287e00c7c553f69f3667d3ef78cc

[bif]

8. DUPE

https://www.democraticunderground.com/100220457879

[Wiz Imp]

11. There's been at least 10 separate threads started on this same subject.

Last edited Fri Jul 4, 2025, 04:59 PM - Edit history (1)

Don't people ever check to see if somebody already posted on the same subject before posting themselves?

[flamingdem]

12. The Ministry of Propaganda is sending us mail now

That was disgusting. I got it as well.