Social Security Administration sends misleading email lauding Trump's new tax cuts law

[Cheezoholic]

8. It's a gift to the more "well off" seniors. Those that live purely on their SS checks mostly won't be phased either way

The roughly 40% that live month to month on SS only will see little if any benefit at all, but 90% still have to go through the PIA to file (and can get in trouble for not filing). Yes there maybe 10% or so that are being squeezed by the taxing that may benefit but the biggest benefit will be those that are using SS as basically bonus retirement money. They get an extra 6k dollar tax write off and, I'd bet, most of those people have plenty to write off anyway. There are exceptions but the amount of people who will be actually saving money that they need across the board is going to be pretty low. Besides, if your pulling in more in yearly retirement (before SS) than the cap set for you to be taxed the highest amount into SS you don't need it as far as I'm concerned. Raise that taxable cap up to 500k and watch SS move ahead 75 years. Cant do that thats taxing the wealthy. I swear for the last 50 years it feels like every Repuke budget writers last name must be Popeil. But wait...There's more


Another stale biscuit tossed under the table for the poor.