Unusual Social Security email touts Trump bill. An email from the agency praised the bill, but only some recipients will see savings. Here’s what the legislation means for seniors. There are many Social Security recipients and seniors who won’t get a tax cut, however.
About 5% of retired Social Security beneficiaries are ages 62 to 64.
There are also deceased workers’ survivors and disabled workers who are younger than 65.
Among those 65 and older, many have incomes below the standard deduction of $14,600 per person or $29,200 per couple, so they already aren’t paying income taxes anyway.
At the other end of the spectrum, the deduction phases out for individuals making more than $75,000 or couples earning more than $150,000. |
