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

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

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

  80% confidence

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

  80% confidence

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

  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

• 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

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

  80% confidence

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

  80% confidence

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

  80% confidence

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

  80% confidence

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