Trump’s “Big Beautiful Bill”

[Horseman 2,411]

Passes house. Indeed, amen. 

[Hawkeye21 2,388]

1 minute ago, Horseman said:

Passes house. Indeed, amen. 

Doesn't seem like a great deal from what I've read.

[Horseman 2,411]

1 minute ago, Hawkeye21 said:

Doesn't seem like a great deal from what I've read.

You can pay extra taxes if you want to.  

[Hawkeye21 2,388]

Just now, Horseman said:

You can pay extra taxes if you want to.  

From what I've read it looks like most of the middle class will be.

[Hardcore troubadour 15,043]

1 minute ago, Hawkeye21 said:

From what I've read it looks like most of the middle class will be.

Tell us about it, in Your own words. 

[Hawkeye21 2,388]

Just now, Hardcore troubadour said:

Tell us about it, in Your own words. 

I haven't read the actual bill.  Just going off of people's reactions and discussions of what is happening.  I could be, and hope, I am incorrect. 

[Hardcore troubadour 15,043]

Just now, Hawkeye21 said:

I haven't read the actual bill.  Just going off of people's reactions and discussions of what is happening.  I could be, and hope, I am incorrect. 

Ok Digby

[Horseman 2,411]

8 minutes ago, Hawkeye21 said:

From what I've read it looks like most of the middle class will be.

Impossible. Without the bill the Tax Cuts and Jobs Act tax brackets expire after this year.  For example, married filing jointly making 150K are in 24% bracket. Without the bill it reverts to 28%.  And all up and down the line. HTH. Whatever you're reading is ignoring this fact. 

[Ron_Artest 1,153]

14 minutes ago, Horseman said:

Right. The narrative is some people who need Medicaid also have Medicare so it indirectly affects Medicare.  Lemmings that don't even know the difference run around saying it cuts both.  

Wrong dummy.  The paygo provision mandates cuts when the deficit gets too big.  This bill blows open the deficit which will mandate Medicare cuts.  This is cbo saying this.

I wouldn't expect someone who can't read a flight log to understand

[Hardcore troubadour 15,043]

The gall of these blue state Rinos demanding the salt reduction be raised so high. These clowns want to vote for high property and school taxes, let them pay them. 

[Ron_Artest 1,153]

10 minutes ago, Hawkeye21 said:

From what I've read it looks like most of the middle class will be.

Only by way of having services cut but most of those services will affect lower class.  Most middle class will be unaffected.

I look to actually save some money with the salt increase but I'm probably not going to be paying $27k in property taxes for much longer anyway

[jbycho 651]

2 minutes ago, Ron_Artest said:

Wrong dummy.  The paygo provision mandates cuts when the deficit gets too big.  This bill blows open the deficit which will mandate Medicare cuts.  This is cbo saying this.

I wouldn't expect someone who can't read a flight log to understand

You are one of the dumbest people on this site, next to Rusty. What are rambling on about now? Jeez, take a couple days off of your constant whining.

[easilyscan 885]

Raising the standard deduction is good & there's other great news for people like myself who are retired, have to provide their own health insurance, but are years away from Medicare.

That's the special HSA available for those who have high deductible health insurance plans. I was able to contribute the maximum ($5300) this year. These HSA's are unique in that they offer a triple tax advantage. You put money in on a tax-free basis, the money builds up tax-free, & lets it come out tax-free for qualified healthcare expenses. This new bill will allow me to contribute $8600 next year. 

If there's money left in the account when you reach age 65, you can still use it for Medicare premiums, deductibles, coinsurance, long-term care expenses, including insurance premiums.

After you reach age 65, If you spend it on something that doesn't qualify, you'll no longer face the 20% penalty for non-qualified withdrawals, although you'll still need to pay ordinary federal income tax on those funds. Really no different than a conventional IRA in that case.

 

 

 

[Ron_Artest 1,153]

Good article hitting on major points

https://www.cnbc.com/2025/05/22/what-house-republican-big-beautiful-budget-bill-means-for-your-money.html

The Student loan changes, that sucks for my kids.  Currently you don't pay anything while you're still a student.  Looks like that goes away.  More attacks on smart people.

[Horseman 2,411]

8 minutes ago, easilyscan said:

Raising the standard deduction is good & there's other great news for people like myself who are retired, have to provide their own health insurance, but are years away from Medicare.

That's the special HSA available for those who have high deductible health insurance plans. I was able to contribute the maximum ($5300) this year. These HSA's are unique in that they offer a triple tax advantage. You put money in on a tax-free basis, the money builds up tax-free, & lets it come out tax-free for qualified healthcare expenses. This new bill will allow me to contribute $8600 next year. 

If there's money left in the account when you reach age 65, you can still use it for Medicare premiums, deductibles, coinsurance, long-term care expenses, including insurance premiums.

After you reach age 65, If you spend it on something that doesn't qualify, you'll no longer face the 20% penalty for non-qualified withdrawals, although you'll still need to pay ordinary federal income tax on those funds. Really no different than a conventional IRA in this case.

 

 

 

Wait what?  I didn't know this. You got any good links?

Pay with cash and save recipets and let the triple tax advantage work. Reimburse yourself any time, could be long after 65.  

Even more cash in my pocket!

 

[Horseman 2,411]

The covid bills made a lot of stuff HSA eligible. GutterBoy can use it to even pay for his menstrual products.  

[easilyscan 885]

20 minutes ago, Ron_Artest said:

This bill blows open the deficit which will mandate Medicare cuts.

Something needs to be done about Medicare & SS soon. On January 28 of this year, I asked Google AI "what are the unfunded liabilities relating to Social Security and Medicare ?

https://www.imagebam.com/view/ME128BWW

I only mentioned the date because when I do the same search now, something different comes up. Could it be that someone doesn't want us to know how dire the situation is ?

[Hardcore troubadour 15,043]

There are too many able bodied people, especially men, on Medicare. It has to stop.  

[easilyscan 885]

9 minutes ago, Horseman said:

Wait what?  I didn't know this. You got any good links?

Pay with cash and save recipets and let the triple tax advantage work. Reimburse yourself any time, could be long after 65.  

Even more cash in my pocket!

 

You broke my sarcasm meter!

[easilyscan 885]

11 minutes ago, Horseman said:

The covid bills made a lot of stuff HSA eligible. GutterBoy can use it to even pay for his menstrual products.  

Or he could move to Minnesota, where Tim Walz would provide them at no charge

[Ron_Artest 1,153]

7 minutes ago, Hardcore troubadour said:

There are too many able bodied people, especially men, on Medicare. It has to stop.  

  so just let seniors die?

[Horseman 2,411]

6 minutes ago, easilyscan said:

You broke my sarcasm meter!

You're pulling my leg?  That's cruel.  

I didn't know you could contribute to an HSA after retirement.   But so far frantically googling I found this:

Quote

 

When retiring early you can continue contributing to an HSA as long as you meet the requirements:

You are not yet enrolled in Medicare.

You’re covered on a high-deductible health plan.

You’re not someone’s tax dependent.

 

I have to figure out how to do this without it coming out of a paycheck.  

[Hardcore troubadour 15,043]

8 minutes ago, Ron_Artest said:

  so just let seniors die?

Medicaid. Good catch. Made your day I’m sure.  So sad. 

[Engorgeous George 2,206]

49 minutes ago, Ron_Artest said:

Only by way of having services cut but most of those services will affect lower class.  Most middle class will be unaffected.

I look to actually save some money with the salt increase but I'm probably not going to be paying $27k in property taxes for much longer anyway

That seems an inordiantly high property tax bill.  It shocks my conscience but then again I don't know what you own or where you own it.

[easilyscan 885]

16 minutes ago, Engorgeous George said:

That seems an inordiantly high property tax bill.  It shocks my conscience but then again I don't know what you own or where you own it.

I was wondering the same thing. Guessing he owns rental property. 

[EternalShinyAndChrome 3,901]

15 minutes ago, easilyscan said:

I was wondering the same thing. Guessing he owns rental property. 

Or, more likely, his family owns rental property and he just manages it and pretends he's the owner to everyone else.  "Property Manager" seems to be a common thing around here for our resident liberals.

[Voltaire 5,236]

With such small majorities, the GOP has to engage in all sorts of contortions to placate their various factions. If they can't work together, it potentially opens things up to look for votes among the Democrats and nobody wants them to have any leverage.

There are still hurdles yet. The Senate should be easier than the House but then it goes to reconciliation and the heavy lifting ensues again.

[Hardcore troubadour 15,043]

26 minutes ago, easilyscan said:

I was wondering the same thing. Guessing he owns rental property. 

Nope. He ain’t bullshitting. NJ is outrageous. NY is too, but not like that. Cost me 25 bucks to find out.  

[Ron_Artest 1,153]

48 minutes ago, Engorgeous George said:

That seems an inordiantly high property tax bill.  It shocks my conscience but then again I don't know what you own or where you own it.

I live in NJ.

[Horseman 2,411]

1 hour ago, Ron_Artest said:

 

The Student loan changes, that sucks for my kids.  Currently you don't pay anything while you're still a student.  Looks like that goes away.  More attacks on smart people.

More attacks on freeloaders.  We shouldn't have to pay your kid's interest. Weaklings are always looking for a handout.  

[Horseman 2,411]

HUGE

Quote

The bill also doubles the annual contribution limits for low and middle earners, to $8,600 for individuals and $17,100 for married couples in 2025. This applies to individuals who make less than $75,000 per year and $150,000 for married couples.

 

[Hardcore troubadour 15,043]

  Child tax credit expanded.  I guess that’s just for millionaires. 

[easilyscan 885]

1 hour ago, Hardcore troubadour said:

  Child tax credit expanded.  I guess that’s just for millionaires. 

Welfare by any other name, but good point.

Disregard that comment. I was thinking of the earned income tax credit.

[EternalShinyAndChrome 3,901]

2 hours ago, Ron_Artest said:

The Student loan changes, that sucks for my kids.  Currently you don't pay anything while you're still a student.  Looks like that goes away.  More attacks on smart people.

Looks like you're safe then!  Whew!  You really dodged a bullet there! 

[easilyscan 885]

ATTN Horseman: Forgot to mention another + related to this particular type of HSA. Unless, you go with the highest priced ACA plan, dental and vision aren't included. Thankfully, you can use HSA funds to pay for them, although I don't think that amount counts towards your annual deductible.

[TimHauck 2,643]

Wait, “no tax on tips” is only for cash tips?  What a letdown for every server in America

[seafoam1 2,825]

5 hours ago, TimHauck said:

Wait, “no tax on tips” is only for cash tips?  What a letdown for every server in America

Don't worry, you'll be ok if you work doubles at the diner. 

[Voltaire 5,236]

7 hours ago, TimHauck said:

Wait, “no tax on tips” is only for cash tips?  What a letdown for every server in America

That wouldn't make any cents.

[Voltaire 5,236]

8 hours ago, TimHauck said:

Wait, “no tax on tips” is only for cash tips?  What a letdown for every server in America

It includes credit and debit card tips. https://www.dailywire.com/news/senate-unanimously-passes-no-tax-on-tips-act?author=Daniel+Chaitin&category=News&elementPosition=28&row=3&rowHeadline=Latest+News&rowType=Vertical+Carousel&title=Senate+Unanimously+Passes+‘No+Tax+On+Tips+Act’

[TimHauck 2,643]

52 minutes ago, Voltaire said:

It includes credit and debit card tips. https://www.dailywire.com/news/senate-unanimously-passes-no-tax-on-tips-act?author=Daniel+Chaitin&category=News&elementPosition=28&row=3&rowHeadline=Latest+News&rowType=Vertical+Carousel&title=Senate+Unanimously+Passes+‘No+Tax+On+Tips+Act’

Thank you.  So they call them cash but cash also includes credit cards.  Clear as mud.