Does the new tax bill if passed affect SS ? (long-term, social security, federal)

[arwenmark]

As it stands only up to 85% of Social Security benefits can be taxed. Anyone know if That will be affected by the new proposed Tax bill?

[reed303]

Originally Posted by arwenmark

As it stands only up to 85% of Social Security benefits can be taxed. Anyone know if That will be affected by the new proposed Tax bill?

Not yet, and
good grief...don't give them any ideas

[nightbird47]

Originally Posted by reed303

Not yet, and
good grief...don't give them any ideas

I'm more worried someone will think its going to be a BIG show if they let the goverment funding run dry and they can gleefully hold everyone hostage. My check isn't sufficent to last more than a month.

Are there no grownups left to tell the kids the games's over.

[MadManofBethesda]

Originally Posted by nightbird47

I'm more worried someone will think its going to be a BIG show if they let the goverment funding run dry and they can gleefully hold everyone hostage. My check isn't sufficent to last more than a month.

Are there no grownups left to tell the kids the games's over.

A Government shutdown won't affect your receipt of your Social Security check. Technically, your payment comes out of the Social Security Trust Fund, not general taxes, so it is not impacted by the shutdown. You'll receive your money as scheduled on January 2nd.

[TuborgP]

Originally Posted by MadManofBethesda

A Government shutdown won't affect your receipt of your Social Security check. Technically, your payment comes out of the Social Security Trust Fund, not general taxes, so it is not impacted by the shutdown. You'll receive your money as scheduled on January 2nd.

I did read months ago that while benefits would not be impacted, applying for benefits could be.

[Hollytree]

The new tax bill is guaranteed to enlarge govt debt bigly. When that happens, the GOP will be looking to downsize SS and Medicare since they hate what they call "entitlements" even though we have paid into the program bigly.
Look up Marco Rubio's recent statement if you don't believe me.

https://www.aarp.org/politics-societ...eniors-fd.html

[dothetwist]

They already are talking about how this tax bill and high addition to deficit will lead to the GOP long-term goal of cutbacks on SS and Medicare.
Republicans Will Cut Social Security and Medicare After Tax Plan Passes, Says Marco Rubio

[MadManofBethesda]

Originally Posted by TuborgP

I did read months ago that while benefits would not be impacted, applying for benefits could be.

That's true.

[TuborgP]

Originally Posted by MadManofBethesda

That's true.

And that is one of the main reasons I applied for SS post 69 until waiting until 70 as planned. I would have been filing around now. I assumed that at age 70 any delay would result in benefits not received. I also learned about fiiing that if receiving spousal and switching to your own the turn around time for approval is only a few weeks. Big difference.

[GeoffD]

Originally Posted by TuborgP

And that is one of the main reasons I applied for SS post 69 until waiting until 70 as planned. I would have been filing around now. I assumed that at age 70 any delay would result in benefits not received. I also learned about fiiing that if receiving spousal and switching to your own the turn around time for approval is only a few weeks. Big difference.

You really think a Republican President and Republican Congress would shut down the Federal government with mid-term elections 11 months away? That's as likely as the Cleveland Browns winning the Super Bowl this year.