Quote from: DKG on Today at 10:10:31 AMThe Social Security Administration(SSA) expects megabill to remove tax for nearly 90 percent of Social Security beneficiaries.

More than 51 million American senior citizens will likely benefit from the bill.

The Social Security Administration (SSA) commended the passage of the One Big Beautiful Bill (OBBB), which aims to deliver tax relief to millions of older Americans.

"The bill ensures that nearly 90 percent 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," the agency said in a July 3 statement.

The OBBB allows seniors to deduct an additional $6,000 from their Social Security income, with that amount decreasing once income passes $75,000 for single filers or $150,000 for joint filers.

Single filers who make $175,000 or more, or joint filers with an income of over $250,000, will not be eligible for the deduction.

For a senior filing singly who receives the average Social Security benefit of $24,000 today, the maximum amount of Social Security that would be subject to federal tax (before deductions) is 85 percent of the benefit, or $20,400, according to a report from the Council of Economic Advisors (CEA).

Currently, out of the 58.8 million seniors aged 65 and over who receive social security income, 64 percent do not have to pay tax on these benefits, said the report.

Once the OBBB comes into effect, 88 percent of such individuals won't have to pay taxes, which amounts to 51.4 million senior citizens.

"The bill also increases and permanently extends the standard deduction and many other features of the 2017 Tax Cuts and Jobs Act that were otherwise scheduled to expire after this year, resulting in significant ongoing savings for most taxpayers," the report states.

Social Security Commissioner Frank Bisignano called the passage of the One Big Beautiful Bill a "historic step forward" for America's senior citizens.
https://www.theepochtimes.com/us/ssa-expects-megabill-to-cut-federal-income-taxes-of-social-security-beneficiaries-by-nearly-90-percent-5882711?utm_source=morningbriefnoe&src_src=morningbriefnoe&utm_campaign=mb-2025-07-05&src_cmp=mb-2025-07-05&utm_medium=email&est=tM9zv%2Frl1NY9ZSntAyUhQnnv152CSbQTJkAkJb5b%2BAVu1asJ%2Fm8feCVKIYXkR0W0Yw%3D%3D

The changes to the SSA will put more money in the pockets of millions of retired Americans.

This is how you help people who are struggling. Make life more affordable. It's also how you get the economy humming along with and produce tax revenue.

No wonder the US economy is growing while the Canadian ecomomy is falling off a cliff.

This is another nail in Canada's coffin.



The Liberals spent $300 million on climate programs promising lower emissions and more jobs.
The results? So bad, they stopped tracking the data altogether.
Why are Canadians paying for programs that can't even report their results—let alone deliver them?

Quote from: Thiel on Today at 12:37:50 PMSweetie, I explained to you after we had sex this morning that economic growth and investment are fleeing Canada while Canadians fall further into the debt spiral. And now there is a growing brain drain.

Canada grew at one tenth the American rate over the past decade. That is Canada losing trillions of dollars in investment, jobs, and government revenue.

Some of that lost revenue could have paid down public debt which is one of largest Canadian federal expenses. Part of that lost growth could have created mortgage paying jobs to help Canadians get out of the mountain of debt they are under.

Instead Carney is proposing higher taxes and costs to Canadians on imports. This will widen the gap between GDP per capita in Canada and America.

TD Bank has warned that Carney's policies will mean another lost decade. This was before we discovered that Carney will run deficits of closer to $100 billion per year than the $50 billion he said he would during the election.

On top of that provinces like BC and Ontario are also running massive unsustainable deficits combined with sluggish growth. The federal Liberals have been sending part of their deficits to provinces in the form of reduced transfers for things like health since they formed government in 2015.

I was born in Canada, I was educated there, but it is very hard for people with dependents to keep their heads above in water in Canada any longer. Since you are my dependent, I am better off financially outside Canada.

Understand now Sugarplum or do you want to jump in the sack again.

Keep the old fart on his hands and knees .

Quote from: Shen Li on Today at 01:25:43 AMMassive Canadian deficits are the new norm. Combine that with the deficits the provinces are running and Canadians are the most in debt developed nation and it does not bode well for Canada's future.

It's what sank Argentina. On top of that we have the Liberals and big business colluding to keep immigration levels sky high and wages in the shitter.

Quote from: Thiel on Today at 12:41:39 PMSugarbuns, retire from what? Posting on forums.

Hell ya. Your boyfriend, Eddie the Chug, Apegirl and Oakie all need to retire from the only thing gets them out of bed in the morning.

Quote from: Mark Carney on Today at 11:30:21 AMI knew I could count on suckers like you.

Actually Mark Carney Mark, Mr. Prime Minister, economists are saying you will have to make cuts to government to pay for your election promises and increased defense spending.


My bet us being an Economist and former Bank Governor you will do that but many of your supporters won't like it, Mark.

Quote from: JOE on July 04, 2025, 01:41:40 PMBetter take advantage of these services while we have them.... DKG DKG!

Like...I'm gonna retire soon.

Sugarbuns, retire from what? Posting on forums.

Quote from: Lokmar on July 04, 2025, 12:30:07 PMidiot josephine LOVES it!!!!

He doesn't care because I pay the bills in our love nest.

Quote from: Shen Li on Today at 01:38:09 AMThe Canadian media is a joke.

That is what happens when the Liberals buy them.

Quote from: JOE on July 04, 2025, 08:34:58 PMThe US will likely fall off the fiscal cliff before Canada does, hey Herman Herm?

That Big Beautiful Bill will bankrupt the USA, hey Herm?

Sweetie, I explained to you after we had sex this morning that economic growth and investment are fleeing Canada while Canadians fall further into the debt spiral. And now there is a growing brain drain.

Canada grew at one tenth the American rate over the past decade. That is Canada losing trillions of dollars in investment, jobs, and government revenue.

Some of that lost revenue could have paid down public debt which is one of largest Canadian federal expenses. Part of that lost growth could have created mortgage paying jobs to help Canadians get out of the mountain of debt they are under.

Instead Carney is proposing higher taxes and costs to Canadians on imports. This will widen the gap between GDP per capita in Canada and America.

TD Bank has warned that Carney's policies will mean another lost decade. This was before we discovered that Carney will run deficits of closer to $100 billion per year than the $50 billion he said he would during the election.

On top of that provinces like BC and Ontario are also running massive unsustainable deficits combined with sluggish growth. The federal Liberals have been sending part of their deficits to provinces in the form of reduced transfers for things like health since they formed government in 2015.

I was born in Canada, I was educated there, but it is very hard for people with dependents to keep their heads above in water in Canada any longer. Since you are my dependent, I am better off financially outside Canada.

Understand now Sugarplum or do you want to jump in the sack again.