Trump says 88% of retirees will pay zero taxes on Social Security, calls it ‘the largest tax break in American history'

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• Nearly 50% of Americans are making 1 big Social Security mistake

  80% confidence

• The White House's claims regarding the Social Security tax bill are false and exaggerated

  80% confidence

• Only 24% of all current Social Security recipients will see a reduction in taxable income directly due to the new law

  80% confidence

• About 64% of Social Security recipients already paid no federal tax on their benefits before the new law

  80% confidence

• Upon insolvency in 2032, Social Security beneficiaries would face an across-the-board benefit cut of around 24 percent

  80% confidence

• 88% of all seniors who receive Social Security will pay NO TAX on their Social Security benefits

  80% confidence

• The Social Security Administration's retirement trust fund will go broke in 2032 without intervention, resulting in 24% benefit cuts

  80% confidence

• About half of Social Security recipients will owe some amount of income tax on their benefits

  80% confidence

• Nearly 11.8 million Americans will lose their health insurance by 2034 due to Medicaid spending cuts

  80% confidence

• For couples retiring after the fund's insolvency, benefit cuts could mean a combined $18,400 reduction

  80% confidence

• Only about 46% of older adults would benefit from the new deduction, and the bill's claim of eliminating taxes for 90% of beneficiaries is inaccurate

  80% confidence

• This is the largest tax break in American history for our nation's seniors

  80% confidence

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