Republicans slammed online for celebrating children going hungry and millions losing Medicaid from Trump's bill

[progree]

6. But Social Security Admin says the "One Big, Beautiful Bill" will be great for older Americans

according to an email from Krasnov's Social Security Administration that I got today --

Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors

The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.

The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy. ((So there is a phase-out or max limit on income somewhere, I wish I knew what it was -Progree))

“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned." ((it doesn't help at all, it just cynically kicks the can down the road a little ways -- see below -Progree))

The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples ((temporary relief, followed by a cut to benefits sooner -Progree)). Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned. ((Not a word about a phase-out beginning at 75k MAGI for singles that I've read about elsewhere. And see below my question on whether this comes out of the SS system too - Progree))

Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them.

((Well you failed miserably with this lying piece of shit email --Progree))

All emphasis in the above is mine. As is everything enclosed in double parenthesis with a "-Progree" at the end

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Though taxation of Social Security benefits sucks, and I'm glad they are reducing it, but realize that income taxes paid on Social Security benefits goes into the SS system, not the general fund. https://democraticunderground.com/10143282920#post4
So reducing taxes on SS benefits, however wonderfully progressive it may seem, will cause the SS Trust Fund to be depleted sooner. And unless Congress acts, the depletion will result in an automatic cut in SS benefits to where benefits match SS payroll tax income. But of course that's not in the giddy bubbly rah rah historic milestone for Trump letter.

I don't know where the funds for the "Additionally, it provides an enhanced deduction for taxpayers aged 65 and older" comes from -- from SS system? Then that will deplete the SS Trust Fund sooner, leading to benefit cuts sooner. Even if from the general fund, that still will result in higher interest costs on the federal debt because it increases the federal debt