The Social Security Thread (1 Viewer)

[Saint Jack]

What’s the likelihood this actually happens?
I imagine if this happens under a GOP president, you’re never going see a Republican in the White House again.

https://thehill.com/homenews/administration/5173332-social-security-cuts-risk-collapse/amp/

 

[LA 2 L.A.]

Not directed at her as a person but directed at why is she involved in anything to do with government.

It was a little humor on my part, very little apparently.

 

[bird]

It was a little humor on my part, very little apparently.

Then again I am occasionally humor-challenged.

 

[LA 2 L.A.]

Then again I am occasionally humor-challenged.

In these times, who isn't?

 

[Optimus Prime]

Edward Coristine – the 19-year-old who quit Elon Musk’s controversial so-called “department of government efficiency” (Doge) earlier this week, where he gained notoriety in part for having used the online moniker “Big Balls” – has in fact been given a new government job, this time at the Social Security Administration (SSA).

Coristine, whose lack of experience and super-loyalty to Musk saw him become a flashpoint for outrage at Doge’s ruthless but haphazard efforts to slash government spending and fire thousands of workers, resigned from Doge earlier this week.

However a spokesperson for the SSA, Stephen McGraw, told Wired magazine that Coristine was now working for that department.


“His work will be focused on improving the functionality of the Social Security website and advancing our mission of delivering more efficient service to the American people,” McGraw told Wired.

Coristine may have previously worked for the SSA, but reporting on his employment history is conflicted.

Doge caused chaos early on in the new Trump administration by muscling into dozens of departments and forcing access to computer systems, in a blaze of publicity and combative announcements.

A high school graduate, Coristine’s experience before Doge was largely limited to a few months working for Neuralink – which Musk owns – and as an intern for a cybersecurity company, which Bloomberg reported fired him for leaking company secrets.

Reuters also reported that Coristine had provided tech support to a cybercrime gang that had bragged about trafficking in stolen data and harassing an FBI agent.…….

Ex-Doge employee ‘Big Balls’ gets new Trump administration position

Edward Coristine, 19, has been given a job at Social Security Administration after quitting Elon Musk’s ‘department’

www.theguardian.com

 

[Optimus Prime]

 

[Sendai]

So the claim is nearly 90% will not have to pay taxes on social security.

Here’s is a breakdown of taxes on social security before the new legislation

“

Fifty percent of a taxpayer's benefits may be taxable if they are:​

• Filing single, head of household or qualifying widow or widower with $25,000 to $34,000 income.
• Married filing separately and lived apart from their spouse for all of 2020 with $25,000 to $34,000 income.
• Married filing jointly with $32,000 to $44,000 income.

Up to 85% of a taxpayer's benefits may be taxable if they are:​

• Filing single, head of household or qualifying widow or widower with more than $34,000 income.
• Married filing jointly with more than $44,000 income.
• Married filing separately and lived apart from their spouse for all of 2021 with more than $34,000 income.
• Married filing separately and lived with their spouse at any time during 2021.”

IRS reminds taxpayers their Social Security benefits may be taxable | Internal Revenue Service

Tax Tip 2022-22, February 9, 2022 — A new tax season has arrived. The IRS reminds taxpayers receiving Social Security benefits that they may have to pay federal income tax on a portion of those benefits.

www.irs.gov

The new legislation raises that incomes-threshold to $75,000 for single and $150,000 for married before social security income is taxable.

That may well result in only 10% paying taxes on social security income.

 

[Eeyore]

The "no tax" on social security is just a three year, $6000 credit, not an exemption.

 

[LA 2 L.A.]

The "no tax" on social security is just a three year, $6000 credit, not an exemption.

If that's how they're doing it, then the taxes will still be withheld and held onto by the IRS for a year, so monthly cash flow doesn't change for anyone and cash flow is a big deal.

Also, if a person mistakenly doesn't claim the credit, there are several ways that mistake can happen, then they don't get tax relief.

If this was sincere no tax on social security, then there wouldn't be an withholdings. I think Trump and his Republicans will find a way to back out of the tax credit, because they don't really want to give one. I think they just wanted to make it look like on paper they aren't going to tax social security. There's a world of difference between what paper says people will pay in taxes or receive in credit, and what people really pay or credits they receive.