DONALD J. TRUMP & JD VANCE 2024

brianlux

Halifax2TheMax said:

Johnny Abruzzo said:

cincybearcat said:

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

Taxing social security should never have happened. Happened under Reagan who I actually think was a great president overall, but this was a terrible idea and straight up theft for the $ already taken away from people. 

Tell me 5 Reagan accomplishments. 

2. Made ketchup a vegetable.

Haha!  Ohhhhh, that's a good one!

josevolution

He did pass the amnesty act which helped immigrants like myself! But his trickle down policies failed! 

Gern Blansten

brianlux said:

F Me In The Brain said:

brianlux said:

cincybearcat said:

F Me In The Brain said:

The very stable genius now wants to stop taxation on social security payments.
Ummm..  the shit is already going to run out soon, now you save the people a few bucks a year and leave them with nothing, sooner.
Assholery.

Ummm it’s assholery to not tax social security payments? Of all the things…

Nothing like good old double taxation, right? 

You agree with him that not taxing is a good idea?
It won't make it much longer as is.  
Short sighted change, imo

I must been reading cross eyed (sort of joking... actually having some vision issues).  No, I'm NOT in favor of taxing Social Security.  If I'm not mistaken, that means that money gets taxed twice.  Yes?

Not really... Most seniors don't pay tax on it anyway. As income increases then some of it can be taxable but no more than 50% is taxable unless your income is high in retirement then you might pay tax on 85% of your benefit.

Gern Blansten

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

The proposal sounds good but I guarantee that most seniors don't pay tax on it now.

Seniors with only ss income aren't even required to file a tax return. Unless benefits are very high 

Lerxst1992

Gern Blansten said:

brianlux said:

F Me In The Brain said:

brianlux said:

cincybearcat said:

F Me In The Brain said:

The very stable genius now wants to stop taxation on social security payments.
Ummm..  the shit is already going to run out soon, now you save the people a few bucks a year and leave them with nothing, sooner.
Assholery.

Ummm it’s assholery to not tax social security payments? Of all the things…

Nothing like good old double taxation, right? 

You agree with him that not taxing is a good idea?
It won't make it much longer as is.  
Short sighted change, imo

I must been reading cross eyed (sort of joking... actually having some vision issues).  No, I'm NOT in favor of taxing Social Security.  If I'm not mistaken, that means that money gets taxed twice.  Yes?

Not really... Most seniors don't pay tax on it anyway. As income increases then some of it can be taxable but no more than 50% is taxable unless your income is high in retirement then you might pay tax on 85% of your benefit.

per googling, income over $44k SS becomes 85% taxable. $44k annual income? That’s barely enough to afford PJ tickets in NY. Rent? No chance.

Johnny Abruzzo

Plenty of seniors live on < 44k per year. It’s rough out there. 

Gern Blansten

Lerxst1992 said:

Gern Blansten said:

brianlux said:

F Me In The Brain said:

brianlux said:

cincybearcat said:

F Me In The Brain said:

The very stable genius now wants to stop taxation on social security payments.
Ummm..  the shit is already going to run out soon, now you save the people a few bucks a year and leave them with nothing, sooner.
Assholery.

Ummm it’s assholery to not tax social security payments? Of all the things…

Nothing like good old double taxation, right? 

You agree with him that not taxing is a good idea?
It won't make it much longer as is.  
Short sighted change, imo

I must been reading cross eyed (sort of joking... actually having some vision issues).  No, I'm NOT in favor of taxing Social Security.  If I'm not mistaken, that means that money gets taxed twice.  Yes?

Not really... Most seniors don't pay tax on it anyway. As income increases then some of it can be taxable but no more than 50% is taxable unless your income is high in retirement then you might pay tax on 85% of your benefit.

per googling, income over $44k SS becomes 85% taxable. $44k annual income? That’s barely enough to afford PJ tickets in NY. Rent? No chance.

That's income other than ss. Most people would have moderate pension or Ira income and investment earnings. But yeah as your other non ss income increases you do pay tax on ss but it's a gradual inclusion 

Gern Blansten

SS benefits for people who were high earners is decent income. Not unusual to see $55k per year for some people. 

F Me In The Brain

Lerxst1992 said:

Gern Blansten said:

brianlux said:

F Me In The Brain said:

brianlux said:

cincybearcat said:

F Me In The Brain said:

The very stable genius now wants to stop taxation on social security payments.
Ummm..  the shit is already going to run out soon, now you save the people a few bucks a year and leave them with nothing, sooner.
Assholery.

Ummm it’s assholery to not tax social security payments? Of all the things…

Nothing like good old double taxation, right? 

You agree with him that not taxing is a good idea?
It won't make it much longer as is.  
Short sighted change, imo

I must been reading cross eyed (sort of joking... actually having some vision issues).  No, I'm NOT in favor of taxing Social Security.  If I'm not mistaken, that means that money gets taxed twice.  Yes?

Not really... Most seniors don't pay tax on it anyway. As income increases then some of it can be taxable but no more than 50% is taxable unless your income is high in retirement then you might pay tax on 85% of your benefit.

per googling, income over $44k SS becomes 85% taxable. $44k annual income? That’s barely enough to afford PJ tickets in NY. Rent? No chance.

I shut my anecedotal or Google informed opinion down and asked questions when Johnny shared this is an area he covers as part of his living.  I believe Gern is a CPA?
Googling something doesn't give us full picture vs someone who has real world experience in topic being discussed.  

I have argued positions that I have expert opinions on in this forum before, it is frustrating.  Persons arguing with me knew next to nothing beyond small, anecdotal experiences or shit they read online in 20 minutes.


We can mostly agree we want Social Security to continue, beyond a talking point to try and trick at risk seniors to swing votes one way or the other

F Me In The Brain

Not a personal attack, apologies if it comes off that way.  Just something that bugged me when it happened.
If you also work in this shit that would be funny.

Gern Blansten

The funny thing is that the trump supporters who will be most vocal about this won't benefit from it. He's just taking advantage of low information voters again. 

curmudgeoness

F Me In The Brain said:

I shut my anecedotal or Google informed opinion down and asked questions when Johnny shared this is an area he covers as part of his living.  I believe Gern is a CPA?
Googling something doesn't give us full picture vs someone who has real world experience in topic being discussed.  

I have argued positions that I have expert opinions on in this forum before, it is frustrating. 

LOL, yes, see every Covid/vaccine discussion on here.

F Me In The Brain

Gern Blansten said:

The funny thing is that the trump supporters who will be most vocal about this won't benefit from it. He's just taking advantage of low information voters again. 

That was my original reaction to it....just that he was just saying stuff to try and get those folks screaming, again

cincybearcat

Gern Blansten said:

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

The proposal sounds good but I guarantee that most seniors don't pay tax on it now.

Seniors with only ss income aren't even required to file a tax return. Unless benefits are very high 

Most is not all.

Gern Blansten

cincybearcat said:

Gern Blansten said:

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

The proposal sounds good but I guarantee that most seniors don't pay tax on it now.

Seniors with only ss income aren't even required to file a tax return. Unless benefits are very high 

Most is not all.

Right so why focus on something that mostly benefits wealthy retirees? 

cincybearcat

Gern Blansten said:

cincybearcat said:

Gern Blansten said:

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

The proposal sounds good but I guarantee that most seniors don't pay tax on it now.

Seniors with only ss income aren't even required to file a tax return. Unless benefits are very high 

Most is not all.

Right so why focus on something that mostly benefits wealthy retirees? 

Cause why not treat people the same with $ they put in to a system? 

If that’s the only argument, that don’t worry about people that worked hard and were successful, we just aren’t going to agree.

Gern Blansten

cincybearcat said:

Gern Blansten said:

cincybearcat said:

Gern Blansten said:

Johnny Abruzzo said:

Yes social security is taxed but there is a low income exclusion. I agree it shouldn’t be taxed but yeah that is a big budget impact. Of course Trump doesn’t say where to get the money. 

The proposal sounds good but I guarantee that most seniors don't pay tax on it now.

Seniors with only ss income aren't even required to file a tax return. Unless benefits are very high 

Most is not all.

Right so why focus on something that mostly benefits wealthy retirees? 

Cause why not treat people the same with $ they put in to a system? 

If that’s the only argument, that don’t worry about people that worked hard and were successful, we just aren’t going to agree.

They didn't put it all in... Hence why only 50-85% is taxable 

Gern Blansten

And remember... Married joint has about a $30k standard deduction so even if some is taxable you only pay tax on income - deduction.

Smoke and mirrors 

brianlux

Gern Blansten said:

SS benefits for people who were high earners is decent income. Not unusual to see $55k per year for some people. 

Holy crap   my SS is about $13K per year...

$55K ? 

cincybearcat

Gern Blansten said:

And remember... Married joint has about a $30k standard deduction so even if some is taxable you only pay tax on income - deduction.

Smoke and mirrors 

So you are saying some is taxed….

Gern Blansten

brianlux said:

Gern Blansten said:

SS benefits for people who were high earners is decent income. Not unusual to see $55k per year for some people. 

Holy crap   my SS is about $13K per year...

$55K ? 

Yeah...and spouse can get up there too. Not unusual to see couples with $90k in ss income.

It should be taxed 

Gern Blansten

cincybearcat said:

Gern Blansten said:

And remember... Married joint has about a $30k standard deduction so even if some is taxable you only pay tax on income - deduction.

Smoke and mirrors 

So you are saying some is taxed….

Well yeah... I said most don't have to worry about it but yes some people pay tax on part of their benefit 

Johnny Abruzzo

From a Wapo article about Republican paid canvassing. 😂😂😂

Lerxst1992

Gern Blansten said:

SS benefits for people who were high earners is decent income. Not unusual to see $55k per year for some people. 

Unfortunately to survive in the NY suburbs, retirees will need an income they makes the majority of SS taxable. Supplemental insurance and property taxes consume the majority of the $44k. If they’re renting, even worse. Like the entire federal code, HCOL regions get screwed.


edit, I mention  Supplemental insurance and property taxes because these are costs that get us nowhere, they are “existence expenses.” Now let’s add heat, utilities, food, out of pocket medical. It takes almost 100k cash to live around here.

gimmesometruth27

has anybody seen the polls? why is nobody posting the polls that are favoring trump?

i know, i know, polls do not matter yet, but it's funny how that has suddenly stopped the last 2 weeks.

benjs

gimmesometruth27 said:

has anybody seen the polls? why is nobody posting the polls that are favoring trump?

i know, i know, polls do not matter yet, but it's funny how that has suddenly stopped the last 2 weeks.

National : President: general election : 2024 Polls | FiveThirtyEight

Based on this, which shows national polls based on surveys done over the past 5-10 days, they're +/- 1-10 points, most +/- 1-3, some leaning Harris, some leaning Trump. That to me is coin toss territory and not worth speculating on one way or another. All I will say is for Harris to have effectively started the race two weeks ago and being in coin toss territory is likely a good sign. 

brianlux

gimmesometruth27 said:

has anybody seen the polls? why is nobody posting the polls that are favoring trump?

i know, i know, polls do not matter yet, but it's funny how that has suddenly stopped the last 2 weeks.

Maybe we should start polling the polls. 

mickeyrat

much better....

https://www.threads.net/@massalida/post/C-Q_BKBsefs/?xmt=AQGz13UjiBzwmmGYAcuk62chwx8Uht2YNFLri062CbSG4g

brianlux

mickeyrat said:

much better....

https://www.threads.net/@massalida/post/C-Q_BKBsefs/?xmt=AQGz13UjiBzwmmGYAcuk62chwx8Uht2YNFLri062CbSG4g

Haha!  Love it!

Gern Blansten

Lerxst1992 said:

Gern Blansten said:

SS benefits for people who were high earners is decent income. Not unusual to see $55k per year for some people. 

Unfortunately to survive in the NY suburbs, retirees will need an income they makes the majority of SS taxable. Supplemental insurance and property taxes consume the majority of the $44k. If they’re renting, even worse. Like the entire federal code, HCOL regions get screwed.


edit, I mention  Supplemental insurance and property taxes because these are costs that get us nowhere, they are “existence expenses.” Now let’s add heat, utilities, food, out of pocket medical. It takes almost 100k cash to live around here.

yeah it's not that cut and dry...when income hits $44K that doesn't mean that 85% of your benefit is taxable.

Here are some real figues

Married Joint...Income other than SS is $40K...total social security benefit is $33,502. So..true total income is $73,502 yet only $7,100 in SS benefits is taxable or 21% of the benefit.

Married Joint...Income other than SS is $80K...total ss benefit $33,502. True total income $113,502, then $28,477 of SS is taxable which is the full 85% (total tax would be $7,190 or 6.3% of total income)

so...it's another benefit for wealthy taxpayers and does little to nothing for everyone else