Wait, the "Tax Cuts" in the Big Beautiful Bill are just the 2017 tax cuts Made Permanent?

[leftwinger]

$4000 old age deduction:

11% bracket = ~$400
22% bracket = ~$800

Higher bracket than that? Not most.

Say 50 million filers in each bracket: total money back into Older taxpayer hands ~= $60B. Better than nothing. But they had promised no Tax on SS.

Wait a minute? If this $4000 comes off of Tax Due, then it is a 100% savings. A TAX CREDIT?

If it comes off your income (which I ASSumed) then it depends on your tax rate bracket how much it is worth to filers. A TAX DEDUCTION?

I suppose I was right the first post? No way they are handing out $4K cash to the old? are they? Any don't even pay $4K income tax. It has to be A TAX DEDUCTION.

 

[initforme]

Lower the child deduction. And don't let people deduct childcare on their taxes.

 

[1srelluc]

The dems wanted them to expire thus creating an extra $3500.00 burden on the average taxpaying family that they could grift away.

Making the Trump tax cut permanent is a huge win for the taxpayers in America.

No shits given about the ones who don't pay taxes.