topic Re: What “middle class tax cut”? in Budget & Savings

What “middle class tax cut”?

IconoClast — Thu, 23 Apr 2026 10:15:09 GMT

I'm a retired blue collar worker whose

Federal income tax bill increased by 0.618%!

Income tax 2024 = 8.547%

Income tax 2025 = 9.165%

Re: What “middle class tax cut”?

SereneSeagull — Thu, 23 Apr 2026 11:56:20 GMT

@IconoClast Yes. Looking forward to righting the apple cart.

Re: What “middle class tax cut”?

GailL1 — Fri, 24 Apr 2026 00:45:25 GMT

@IconoClast

Did you forget to take the extra $6000 in senior deductions to save yourself some Social Security taxes on benefits?

Re: What “middle class tax cut”?

IconoClast — Fri, 24 Apr 2026 10:24:50 GMT

I find the question insulting!
An additional $6000 deduction for us old people does little to mitigate the cost imposed by Ronald Reagan increasing our taxes by eliminating the exemptions from Social Security and unemployment insurance income.

Re: What “middle class tax cut”?

Tonster521 — Sun, 26 Apr 2026 09:24:21 GMT

IconClast, tax rates have decreased since 2018. Also, the Standard deduction and tax brackets are adjusted each year for inflation. Has your taxable income increased?

Re: What “middle class tax cut”?

Tonster521 — Sun, 26 Apr 2026 09:47:23 GMT

IconClast, it appears you do not understand the value of the Enhanced Deduction for Seniors which is $6,000/$12,000 Single/Married Filing Jointly. It is estimated that approximately 80% or more folks age 65 and older will not pay any federal income tax on their SS Benefits. The deduction is available for folks with Adjustable Gross Income below $75,000/$150,000 Single/Married Filing Jointly. If above this threshold, the deduction is reduced and is phased out at $175,000/$250,000 Single/Married Filing Jointly.

FYI, if Single, qualifying for the $6,000 enhanced deduction is equivalent to a $50,000 deduction of taxable income if one is in the 12% tax bracket ($50,000 X .12 = $6,000). There are not many Single folks with SS Benefits that exceed $50,000. Double the math for Married Filing Jointly.