[Aces4]

Originally Posted by OrangeBlossomBaby

One thing they could do, is expand Medicaid for seniors heading into nursing homes or requiring palliative care at home.

People living on low income, have little to no tax burden in the first place. If by taking the standard deduction you'd end up getting a full refund on any taxes you've paid, with a net of zero -

then getting an additional $6000 deduction wouldn't change anything, at all. You'd still net zero.

There are seniors living right here in The Villages who would be in this situation. There are millions of seniors all around the country who would be in this situation.

That's right, those seniors are already getting a free tax ride and SS benefits. When does the government stop being responsible for everyone living the life of luxury? Let seniors go through their savings and assets and pay their way. Passing money down to children and in 5 years, the seniors get all those government goodies. I've seen it happen.

[Aces4]

Originally Posted by OrangeBlossomBaby

No, it really doesn't help low income seniors. We're not "ahead" in any department. If we were in a financial position to have to pay more tax, it'd mean we were earning a lot more income than we are now. That'd be a great thing.

The fact that we don't pay income tax means we're TOO POOR. There's nothing "ahead" about that.

Getting an additional $6000 bonus won't do us ANY good, at all. It gives people who are NOT poor a bonus, and poor people continue to be poor.

I guess I need a definition of "too poor". If one is making ends meet and living a lifestyle in a nice community, I don't consider them poor or needing assistance. Many seniors don't pay income tax now and collect their SS benefits and are able to make ends meet. Why are we subsidizing that situation which many of our parents and grandparents lived through without handouts?

[Andyb]

Win, win!

[jimbomaybe]

Originally Posted by OrangeBlossomBaby

No, it really doesn't help low income seniors. We're not "ahead" in any department. If we were in a financial position to have to pay more tax, it'd mean we were earning a lot more income than we are now. That'd be a great thing.

The fact that we don't pay income tax means we're TOO POOR. There's nothing "ahead" about that.

Getting an additional $6000 bonus won't do us ANY good, at all. It gives people who are NOT poor a bonus, and poor people continue to be poor.

Solution , don't be poor, market equites have produced over 8% over history, $200. a month investment over a working life of 35 years assuming a 6% compounded return you would have over 267 K

[NoMo50]

Like any bill making its way through Congress, the BBB will likely look very different once it has passed. Being massaged and tweaked, numerous times, by both the House and the Senate, could likely yield a ******* stepchild that does not resemble its original form. Remember, a camel is a horse built by a committee.

[oneclickplus]

Originally Posted by Lottoguy

The debt is going to send us to the stone ages. The rich must pay more taxes. It’s the only way to make a dent.

Actually, cutting spending is better than raising taxes on anyone including "the rich".

[Marmaduke]

Originally Posted by Andyb

Win, win!

We Deserve a Break, and we're feeling mighty "joyful".

It passed the Senate, going to the House. Looking good for '25!

[golfing eagles]

Originally Posted by OrangeBlossomBaby

One thing they could do, is expand Medicaid for seniors heading into nursing homes or requiring palliative care at home.

People living on low income, have little to no tax burden in the first place. If by taking the standard deduction you'd end up getting a full refund on any taxes you've paid, with a net of zero -

then getting an additional $6000 deduction wouldn't change anything, at all. You'd still net zero.

There are seniors living right here in The Villages who would be in this situation. There are millions of seniors all around the country who would be in this situation.

EXACTLY!!!!

The bill includes a TAX BREAK. It is intended to ease the burden on seniors who are PAYING TAXES. It is not intended to be yet another welfare program or government freebie. If you are paying ZERO TAX, then you don't need TAX RELIEF

[Angelhug52]

Originally Posted by Lottoguy

The debt is going to send us to the stone ages. The rich must pay more taxes. It’s the only way to make a dent.

That rich , according to the bbbwill still have big tax cuts. Our grandchildren and children who are not rich will still be hurting. May led to more mulitgeneatioal homes. Plus the reports are saying increase in homeless ?hunger?unemployment?poor unaffordable health care. Yep bbb will benfit some the rest.. not happening. For the record it will hurt those born and raised here in the USA.

[golfing eagles]

Originally Posted by Angelhug52

The rich , according to the bbb will still have big tax cuts. Our grandchildren and children who are not rich will still be hurting. May led to more mulitgeneatioal homes. Plus the reports are saying increase in homeless,hunger and unemployment and poor unaffordable health care. Yep bbb will benefit some the rest.. not happening. For the record it will hurt those born and raised here in the USA.

The "rich"??? Who are they??? Anyone who actually contributes to society by paying taxes, donating to charities, employing others and venturing capital?????

"The reports are saying....."---what "reports"? I think we can all guess the source of that misinformation.

This class warfare rhetoric has to end. The top 5% currently pay 65% of all taxes. And that's "fair"????? Forty-seven % pay no tax----and that's "fair". But by all means let's continue the populist rhetoric that started in 1933 and has only become worse since then.

[Ken D.]

Originally Posted by Aces4

I guess I need a definition of "too poor". If one is making ends meet and living a lifestyle in a nice community, I don't consider them poor or needing assistance. Many seniors don't pay income tax now and collect their SS benefits and are able to make ends meet. Why are we subsidizing that situation which many of our parents and grandparents lived through without handouts?

Amen

[Ken D.]

Originally Posted by OrangeBlossomBaby

No, it really doesn't help low income seniors. We're not "ahead" in any department. If we were in a financial position to have to pay more tax, it'd mean we were earning a lot more income than we are now. That'd be a great thing.

The fact that we don't pay income tax means we're TOO POOR. There's nothing "ahead" about that.

Getting an additional $6000 bonus won't do us ANY good, at all. It gives people who are NOT poor a bonus, and poor people continue to be poor.

Curious, who's too blame for folks being poor?

[Topspinmo]

Originally Posted by Pballer

How is this better? If I get $40,000 in SS benefits and it is not taxed, it is like getting a $40,000 deduction. Instead Congress is giving me a $4000 or $6000 deduction, and only if I don't have too much income, whoop de doo. I'm sure there are seniors who voted the way they did because of this promise; instead it turned out to be a bait and switch.

If you got too much income in year need be taxed instead of using all exemptions lawyers put in so ones with too much get out paying taxes.

Any deduction in taxes is GOOD i don’t care how much or little person makes.

[Bill14564]

Originally Posted by golfing eagles

The "rich"??? Who are they??? Anyone who actually contributes to society by paying taxes, donating to charities, employing others and venturing capital?????

"The reports are saying....."---what "reports"? I think we can all guess the source of that misinformation.

This class warfare rhetoric has to end. The top 5% currently pay 65% of all taxes. And that's "fair"????? Forty-seven % pay no tax----and that's "fair". But by all means let's continue the populist rhetoric that started in 1933 and has only become worse since then.

Perhaps we can say “the rich” are those who will put any additional tax breaks into their investment accounts rather than into the economy. Give $1,000 to someone making less than say $100K and it will likely be spent. Give $1,000 to someone making more than $400K and they might not notice if they dropped it on the floor, they certainly aren’t going to spend it in Publix.

It would be interesting to see statistics on the percentage of income the top 5% make. Do the top 5% who pay 65% of taxes also receive 80% of income? Similarly, it would be interesting to see what their effective tax rate is. I looked but wasn’t able to find that in a quick search.

[Topspinmo]

Originally Posted by Lottoguy

The debt is going to send us to the stone ages. The rich must pay more taxes. It’s the only way to make a dent.

Funny how all sudden worried about debt. About 30 years too late for that ship to sale. All feel good programs ran up debt and they still don’t feel any better. I like how some bean counter predicts 3 plus trillion to debt in 10 years. Nobody can predict what going happen in 10 years let along 4, and we know what 4 years I’m talking about. Until stop the blame game and stop spending more than collected nothing going to change.