My thoughts as well. I am self employed and have been making about $40k in addition to my SS benefits and have been taxed above the threshold earnings of around $29k, which hasn’t been adjusted for inflation.
One question— as being self employed, I pay both halves of the SS tax on my earnings. Why don’t I get a credit for contributing to SS, but only get a penalty for earning over the threshold amount? Seems like double taxation to me.
’The average refund has risen by roughly $350 year over year. This is real money landing in real accounts for real people.’ Really? Given the ever increasing price of drugs and food, this is a pittance. Seniors are totally ripped off by big pharma. Prescription mebendazole, for example, runs about $200 per 100 mg tab in the USA. You can buy the generic directly from India for 27 cents per 100 mg tab. Food prices are up 50-60 percent here in the northeast. Our so called government exhorts billions from working American labor slaves and gives back a faction of what they worked hard to earn. Fair? Not even close.
Not sure if you understand, we are merely tax cattle. The massive corruption, insider deals, ngo fraud/waste, govt boon doggles, fed/state money going to illegals, illegally, on and on ..... The deep state is not drained, nothing will be done. The uni party is full steam ahead on the destruction of America, but, hey we can, for now, read some cool substacks. For examples, see trumps campaign promises compared to what's happened. See what Gov Abbott has done to Texas
Ours went up! The BBB did nothing to help us. My husband and I both still work and we continue to get screwed. In the meantime, fraud is rampant, we’re still giving foreign aid all over the place, illegals roam free getting benefits Americans pay for, and not one corrupt Dem has been arrested! Love Trump but we need an entirely new Congress with few exceptions! And screw Lindsey Graham. Why Trump keeps endorsing him is a mystery. He’s a RINO snake!
WADR Peter, you're overselling it. Because I had a good year; one that I've not had in 25 years, but probably not as good as you've had in any of the last 10 years. I paid tax on over 40k of my 47k in Social Security income this year. The Senate F*CKED me on the "no tax on Social Security promise. I wonder how many of the OT & Tip crowd was similarly F*CKED!
We have become headline and one paragraph readers and only absorb two minute visual reports. So policies need to be explained precisely short and quick. No time to read the fine print so there's going to be disappointment and disallusionment. I wish everyone would read ALL of Peter's articles for example.
Trump needs to get his beneficial and successful policies out without rote repeating. People turn it off and slanted news wont cover it. What works is snippets of Doordash, McDonald's drive through and garbage trucks. The media has to show it. He would have fun doing it ( and Lord knows the guy could use some fun) and it shows his humor and human side. So effective! His instincts have served him by going to the people directly
So Donald save yourself the constant repeated successes to a media corrupt and disinterested and let the cameras roll!
Our accountant told us that only a percentage of social security was tax free now, not the whole amount. He was quite upset because the misleading aspect of it was causing a lot of friction with his elderly clients.
You are correct! We got sizable relief… so glad DJT is in Office and not the alternative … I know many don’t really understand it… it takes time … they had us over the barrel! I get it though! Without DJT and the cabinet …we would have nothing …many wouldn’t even be around! I know many people don’t understand what’s really going on though… without him going after the real threat in the middle east … and that london bank… re- assessing who are real enemies are! I’m grateful for so much! I’m grateful for The Trump Admin. I’m thankful. Hallelujah.
I think Nathan you should ask yourself who had him arrested in 2018… another thing…who had maxwell arrested … who had greg reinerr arrested… who had john of god arrested… how are we seeing senators who are committing heinous crimes… rape murder embezzlement … did you see it before?! You didn’t… you’ll tell yourself you did but you didn’t! Btw his iq is 175… posted by a left leaning news paper…what’s yours? Do u know who controls the mullahs?! Obviously not! Why do they have billions of dollars in offshore accounts… why do they have property in the UK… why are all their families here living many in LA if the US is the great satan…what about the 40,000 Persians they killed for protesting … what about the Nigerian Christian’s … do you care about them… iran is not controlled by the mullahs… its controlled by the bank of london and so is the United States … you and your country were controlled and given to the highest bidder…he’s trying to get us out of that control… hence tarrifs, crypto,energy … u like many Americans have no idea what’s really going on but I wish you the best… do some real research into fed… you’ve been a debt slave for over 100 years…he’s trying to get you out of it! Wake up I’m sure you’d make a fine person once you do!
That senile idiot in Washington and his administration are owned by Zionist Israel, and we are embroiled in a Middle East war that was totally unnecessary. But there is big money to be made in armaments, oil deals, exhortation, etc. all to the glory of greater Israel. Unfortunately the cost will be paid by Americans in blood and treasure. People here and in the rest of the world will suffer as pharmaceuticals, oil, helium, nitrogen fertilizer, etc no longer arrives. Our entire government is corrupt. Ask yourself. Who has been arrested due to the release of the Epstein files or the Covid debacle. Anyone?
Not sure how a 6,000 per person deduction for Seniors equates to no tax on Social Security. It’s better than what we had but not what was sold.
My thoughts as well. I am self employed and have been making about $40k in addition to my SS benefits and have been taxed above the threshold earnings of around $29k, which hasn’t been adjusted for inflation.
One question— as being self employed, I pay both halves of the SS tax on my earnings. Why don’t I get a credit for contributing to SS, but only get a penalty for earning over the threshold amount? Seems like double taxation to me.
Open a SEP IRA. That’s what I did when I had my own business.
I’ll look into it.
I was able to reduce my tax burden by about 20K per year on my small online business. Ask your CPA.
’The average refund has risen by roughly $350 year over year. This is real money landing in real accounts for real people.’ Really? Given the ever increasing price of drugs and food, this is a pittance. Seniors are totally ripped off by big pharma. Prescription mebendazole, for example, runs about $200 per 100 mg tab in the USA. You can buy the generic directly from India for 27 cents per 100 mg tab. Food prices are up 50-60 percent here in the northeast. Our so called government exhorts billions from working American labor slaves and gives back a faction of what they worked hard to earn. Fair? Not even close.
Not sure if you understand, we are merely tax cattle. The massive corruption, insider deals, ngo fraud/waste, govt boon doggles, fed/state money going to illegals, illegally, on and on ..... The deep state is not drained, nothing will be done. The uni party is full steam ahead on the destruction of America, but, hey we can, for now, read some cool substacks. For examples, see trumps campaign promises compared to what's happened. See what Gov Abbott has done to Texas
Ours went up! The BBB did nothing to help us. My husband and I both still work and we continue to get screwed. In the meantime, fraud is rampant, we’re still giving foreign aid all over the place, illegals roam free getting benefits Americans pay for, and not one corrupt Dem has been arrested! Love Trump but we need an entirely new Congress with few exceptions! And screw Lindsey Graham. Why Trump keeps endorsing him is a mystery. He’s a RINO snake!
WADR Peter, you're overselling it. Because I had a good year; one that I've not had in 25 years, but probably not as good as you've had in any of the last 10 years. I paid tax on over 40k of my 47k in Social Security income this year. The Senate F*CKED me on the "no tax on Social Security promise. I wonder how many of the OT & Tip crowd was similarly F*CKED!
We have become headline and one paragraph readers and only absorb two minute visual reports. So policies need to be explained precisely short and quick. No time to read the fine print so there's going to be disappointment and disallusionment. I wish everyone would read ALL of Peter's articles for example.
Trump needs to get his beneficial and successful policies out without rote repeating. People turn it off and slanted news wont cover it. What works is snippets of Doordash, McDonald's drive through and garbage trucks. The media has to show it. He would have fun doing it ( and Lord knows the guy could use some fun) and it shows his humor and human side. So effective! His instincts have served him by going to the people directly
So Donald save yourself the constant repeated successes to a media corrupt and disinterested and let the cameras roll!
Our accountant told us that only a percentage of social security was tax free now, not the whole amount. He was quite upset because the misleading aspect of it was causing a lot of friction with his elderly clients.
You are correct! We got sizable relief… so glad DJT is in Office and not the alternative … I know many don’t really understand it… it takes time … they had us over the barrel! I get it though! Without DJT and the cabinet …we would have nothing …many wouldn’t even be around! I know many people don’t understand what’s really going on though… without him going after the real threat in the middle east … and that london bank… re- assessing who are real enemies are! I’m grateful for so much! I’m grateful for The Trump Admin. I’m thankful. Hallelujah.
Really? Have you seen the flag draped caskets coming back from Iran? And for what?
What exactly r u trying to say? Cause I honestly don’t know!
I think Nathan you should ask yourself who had him arrested in 2018… another thing…who had maxwell arrested … who had greg reinerr arrested… who had john of god arrested… how are we seeing senators who are committing heinous crimes… rape murder embezzlement … did you see it before?! You didn’t… you’ll tell yourself you did but you didn’t! Btw his iq is 175… posted by a left leaning news paper…what’s yours? Do u know who controls the mullahs?! Obviously not! Why do they have billions of dollars in offshore accounts… why do they have property in the UK… why are all their families here living many in LA if the US is the great satan…what about the 40,000 Persians they killed for protesting … what about the Nigerian Christian’s … do you care about them… iran is not controlled by the mullahs… its controlled by the bank of london and so is the United States … you and your country were controlled and given to the highest bidder…he’s trying to get us out of that control… hence tarrifs, crypto,energy … u like many Americans have no idea what’s really going on but I wish you the best… do some real research into fed… you’ve been a debt slave for over 100 years…he’s trying to get you out of it! Wake up I’m sure you’d make a fine person once you do!
You are wasting your time. He's a bot
That senile idiot in Washington and his administration are owned by Zionist Israel, and we are embroiled in a Middle East war that was totally unnecessary. But there is big money to be made in armaments, oil deals, exhortation, etc. all to the glory of greater Israel. Unfortunately the cost will be paid by Americans in blood and treasure. People here and in the rest of the world will suffer as pharmaceuticals, oil, helium, nitrogen fertilizer, etc no longer arrives. Our entire government is corrupt. Ask yourself. Who has been arrested due to the release of the Epstein files or the Covid debacle. Anyone?