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Watching Pres Trump live. He just said "No taxes on Social Security".

Posted on 8/14/25 at 12:40 pm
Posted by Shoalwater Cat
Pville
Member since Dec 2017
787 posts
Posted on 8/14/25 at 12:40 pm
I read in the BBB about the $6000 deduction for SS recipients. Nothing about totally eliminating the taxes on SS. Which is it?
Posted by Tigergreg
Metairie
Member since Feb 2005
24442 posts
Posted on 8/14/25 at 12:42 pm to
Change your handle to Johnny Come Lately. Just a deduction. No tax elimination.
Posted by Folsom
Folsom
Member since Mar 2006
3558 posts
Posted on 8/14/25 at 1:05 pm to
How bout NO PROPERTY TAX and NO INCOME TAX!!
Posted by Willie Stroker
Member since Sep 2008
15590 posts
Posted on 8/14/25 at 1:35 pm to


Posted by Riverside
Member since Jul 2022
8251 posts
Posted on 8/14/25 at 1:38 pm to
Do you understand federal income taxes? Seriously. A $6,000 deduction basically means anyone making less than $500k would not pay taxes on SS.
Posted by dgnx6
Member since Feb 2006
85576 posts
Posted on 8/14/25 at 1:41 pm to
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Posted by HubbaBubba
North of DFW, TX
Member since Oct 2010
50764 posts
Posted on 8/14/25 at 1:46 pm to
quote:

A $6,000 deduction basically means anyone making less than $500k would not pay taxes on SS.
There is a phase out based on your income.
Posted by Errerrerrwere
Member since Aug 2015
41994 posts
Posted on 8/14/25 at 1:48 pm to
Are we panicking yet?

This feels like we are already panicking.

Posted by cadillacattack
the ATL
Member since May 2020
9536 posts
Posted on 8/14/25 at 2:02 pm to
Don’t know if this is the case in the initiative that Trump is proposing… but there are many SS recipients that would benefit by being in a lower tax rate bracket …. and ac$6k annual deduction might just do that.
Posted by dat yat
Chef Pass
Member since Jun 2011
4883 posts
Posted on 8/14/25 at 2:05 pm to
quote:

The law creates a new $6,000 deduction through 2028 for taxpayers aged 65 and over.


It only helps Boomers and older; Gex-X won't start hitting 65 until 2030.
Posted by LSUbest
Coastal Plain
Member since Aug 2007
14999 posts
Posted on 8/14/25 at 2:29 pm to
quote:

Watching Pres Trump live. He just said "No taxes on Social Security".


quote:

I read in the BBB about the $6000 deduction for SS recipients.


Trump didn't write the bill, congress did.

And they screwed the pooch on no tax on overtime too.

It's not tax free on 1.5x rate only the 0.5x part.

Thank congress.
Posted by YouKnowImRight
Parts Unknown
Member since Oct 2023
2816 posts
Posted on 8/14/25 at 2:41 pm to
How about opting out of SS? I'd like to get my investment back while I've still got time to earn a return on it.
Posted by TerryDawg03
The Deep South
Member since Dec 2012
17666 posts
Posted on 8/14/25 at 2:43 pm to
quote:

How bout NO PROPERTY TAX


Talk to your city and county governments.
Posted by SlidellCajun
Slidell la
Member since May 2019
15906 posts
Posted on 8/14/25 at 2:57 pm to
Trump has nothing to do with property tax
Posted by Shoalwater Cat
Pville
Member since Dec 2017
787 posts
Posted on 8/14/25 at 3:52 pm to
I understand taxes and I support Trump. Not doubting what the 6K will do for SOME people,,
He said "No taxes on Social Security", that means 0 tax for everyone drawing SS. Big difference.
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 8/14/25 at 3:54 pm to
quote:

He said "No taxes on Social Security", that means 0 tax for everyone drawing SS. Big difference.


But he always tells the truth?

I can't wait to go to the pharmacy for my $50 prescription and get paid $700 when I get it because 1500% reductions.
This post was edited on 8/14/25 at 3:56 pm
Posted by PorkSammich
North FL
Member since Sep 2013
16779 posts
Posted on 8/14/25 at 3:57 pm to
quote:

Trump didn't write the bill, congress did.


From WhiteHouse.Gov

quote:

President Trump’s One Big Beautiful Bill Is Now the Law


quote:

Today, President Donald J. Trump officially signed The One Big Beautiful Bill into law — a once-in-a-generation piece of legislation that makes good on his campaign promises and puts America First.
Posted by Nosevens
Member since Apr 2019
17050 posts
Posted on 8/14/25 at 4:04 pm to
That’s state and parish but yes please
Posted by Zgeo
Baja Oklahoma
Member since Jul 2021
3044 posts
Posted on 8/14/25 at 4:36 pm to
I would love “ no property tax” but that won’t happen due to the need to und public schools. But DeSantis is correct there is no reason to raise the appraisal and hence the property tax every year. Essentially taxing unrealized gains. Let schools live within existing budget.
Posted by gungho
Member since Jun 2016
213 posts
Posted on 8/14/25 at 4:51 pm to
I have only seen this $6k figure called a"deduction" which seems to me an additional deduction to the standard deduction or itemized, if that applies. But looks like most people are reading it as a tax "credit" which comes off the final tax bill. Which is it?
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