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Message
Question for the money gurus about the $6,000 senior deduction
Posted on 4/24/26 at 7:21 am
Posted on 4/24/26 at 7:21 am
I don't understand what it did for us. I got back the same amount as I did from 2024; the amount I paid in. ( age 77.)
Meanwhile the people who don't work and spit out 8-10 kids and who I feed, clothe and help support get a substantial amount.
Meanwhile the people who don't work and spit out 8-10 kids and who I feed, clothe and help support get a substantial amount.
11
Posted on 4/24/26 at 7:30 am to sc2anni
If you don't owe any taxes, don't pay any in.
Posted on 4/24/26 at 7:33 am to sc2anni
There are many factors that impact that answer, including but not limited to income and withholdings. It probably helped some but certainly not everyone. It had no effect on my taxes.
Some said it was to simply satisfy a campaign promise regarding social security taxes. Social Security taxes still exist.
Some said it was to simply satisfy a campaign promise regarding social security taxes. Social Security taxes still exist.
Posted on 4/24/26 at 7:45 am to sc2anni
quote:
Meanwhile the people who don't work and spit out 8-10 kids
Wells there's your problem. You only got the "don't work" part completed. Get busy grampa.
Posted on 4/24/26 at 8:34 am to sc2anni
So you pay zero income tax already but want a further benefit, a.hand.out of sorts? You complain.about all these people you "feed, clothe and help support" but currently pay no income tax. News flash you arent the one funding our bloated welfare programs.
In fact, other higher income seniors are subsidizing you through Medicare IRMAA surcharges.
If you want to take fully utilize the senior deduction this year, you may be able to realize a bit more income from traditional retirement accounts if you have them.
In fact, other higher income seniors are subsidizing you through Medicare IRMAA surcharges.
If you want to take fully utilize the senior deduction this year, you may be able to realize a bit more income from traditional retirement accounts if you have them.
This post was edited on 4/24/26 at 10:46 am
Posted on 4/24/26 at 8:48 am to sc2anni
quote:the gimmes have left you Boomers with no wherewithal to read the room
what it did for us. I got back the same amount as I did from 2024; the amount I paid in. ( age 77.)
This post was edited on 4/24/26 at 8:49 am
Posted on 4/24/26 at 9:29 am to sc2anni
If you owe taxes the $6,000 dedication lowers that tax burden. Sounds like you don't owe taxes.
And the boomer generation is the last group that needs more tax breaks IMO
And the boomer generation is the last group that needs more tax breaks IMO
Posted on 4/24/26 at 11:57 am to sc2anni
It's a deduction, not a refundable tax credit. Were you looking to join the handout train?
Posted on 4/24/26 at 12:19 pm to sc2anni
No shame, most senior citizens pay zero fed income tax. (Old data but tax policy has only gotten more favorable for seniors) And they are the largest percentage of beneficiaries of tax policy eliminating their tax bill. Just don't complain that you are currently footing the bill. Center for Retirement Research: why-most-elderly-pay-no-federal-tax 
This post was edited on 4/24/26 at 12:26 pm
Posted on 4/24/26 at 1:24 pm to TigerTatorTots
quote:
And the boomer generation is the last group that needs more tax breaks IMO
I wonder what each generation has paid (pro rata) over its working lifetime relative to corresponding/contemporaneous fedgov outlays.
Posted on 4/24/26 at 1:32 pm to TorchtheFlyingTiger
quote:
No shame,
Zero whatsoever, nada, zilch
Posted on 4/25/26 at 12:45 am to sc2anni
quote:
Meanwhile the people who don't work and spit out 8-10 kids and who I feed, clothe and help support get a substantial amount.
So you paying zero taxes mean you support them? Lay off the bong gramps.
Posted on 4/25/26 at 1:06 pm to TorchtheFlyingTiger
That pie chart has some strange names that it is comparing. What exactly is a "Elederly Tax Benefit" and why would I want to compare it to "Credits for Children and Working Poor"? Those categories could include wildly different things, and neither one of them would, at least at first brush, include the kind of programs the OP was talking about.
No big deal, I agree with you, but charts like that are made to illustrate a point the chart maker wanted to promote, no actually show data.
It's like when "gun violence" includes accidental gun injuries and suicides, not really true.
No big deal, I agree with you, but charts like that are made to illustrate a point the chart maker wanted to promote, no actually show data.
It's like when "gun violence" includes accidental gun injuries and suicides, not really true.
Posted on 4/25/26 at 5:25 pm to sc2anni
quote:
I don't understand what it did for us. I got back the same amount as I did from 2024; the amount I paid in. ( age 77.) Meanwhile the people who don't work and spit out 8-10 kids and who I feed, clothe and help support get a substantial amount.
Is this a money question or a political question?
Also if you don’t pay any tax, you aren’t supporting the welfare class, Gramps.
Posted on 4/27/26 at 8:39 am to sc2anni
Ideally you could harvest some income that would be helped by the deduction. But, otherwise, I don't see how you're upset a deduction didn't get you more than you paid in.
Deductions aren't refundable credits.
#Taxesaretaxes
I mean, it's a fair point, but unrelated to your question. They are getting refundable credits. Your problem is with Congress.
Deductions aren't refundable credits.
#Taxesaretaxes
quote:
Meanwhile the people who don't work and spit out 8-10 kids and who I feed, clothe and help support get a substantial amount.
I mean, it's a fair point, but unrelated to your question. They are getting refundable credits. Your problem is with Congress.
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