Author Topic: AARP: 5.2 million seniors could see taxes increased by GOP bill  (Read 3931 times)

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Offline Dexter

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Thoughts?

http://thehill.com/policy/finance/362416-aarp-52-million-seniors-would-see-taxes-increased-by-gop-bill

Millions of senior citizens could see tax increases under the Senate version of the GOP's tax-reform plan, according to an analysis from the AARP.

In an article published Wednesday on the group's website, the AARP's vice president and policy director argue that 1 in 5 seniors, about 6.3 million taxpayers, will see either no change or a tax increase in 2019 under the plan passed by the Senate Finance Committee. Of those individuals, 1.2 million people would get a tax hike.

The authors argue that number will jump "more than four times" by 2027 to 5.2 million seniors "as a result of sunsetting the [Finance Committee's] middle-class tax cuts."

Another issue of concern for older Americans, the AARP says, is the automatic cuts to Medicare and other services under the GOP plan.

"The bottom line is that even today’s 65+ as well as those who turn 65 by 2027 who benefit initially may end up paying higher and ever increasing taxes soon thereafter," the authors write.

"Further, as the result of growing deficits, they may receive reduced value from Medicare or other programs that are central to older Americans’ wellbeing."
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Offline driftdiver

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #1 on: November 29, 2017, 09:48:30 pm »
Well the second home deduction would hit some of them.  Since most don't have that much income to start with I don't see how this is accurate.
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Offline skeeter

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #2 on: November 29, 2017, 09:57:00 pm »
AARP also assured seniors that Affordable Care Act would be a really good deal for them.

Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #3 on: November 29, 2017, 10:00:43 pm »


The House bill eliminated the extra over age 65 deduction and raised the lowest income tax rate from 10% to 12%.

But last I heard,  the Senate bill has reinstated the extra over 65 deduction and reinstated the lowest income tax rate back to 10%. 

God knows what will be in the final compromised bill.




« Last Edit: November 29, 2017, 10:32:49 pm by KingsX »

Offline Snarknado

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #4 on: November 29, 2017, 10:06:38 pm »
It's a safe assumption that any figures provided by AARP are tainted by their left-wing bias. But it does seem unfair to kill the extra deduction for over 65 when no other group is giving up a comparable benefit. They also lose the most from chained CPI, and have for decades been the only group deprived of inflation protection in the now-ridiculously-low social security taxation thresholds - many who were fully taxed at high marginal rates on their "contributions" pay again on 85% of benefits received. Too bad AARP never thought that was worthy of their attention...
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Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #5 on: November 29, 2017, 10:07:09 pm »


AARP also assured seniors that Affordable Care Act would be a really good deal for them.



The AARP is a liberal leftist organization.

AARP members are complaining that AARP has done very little to lobby in behalf of seniors on the tax issue. 

 I've kept up with tax reform news for months. The AARP  has only recently spoken out on the tax issue.  Probably because so many of their members have threatened to jump off AARP's gravy train because AARP has been MIA on the tax issue.




« Last Edit: November 29, 2017, 10:08:43 pm by KingsX »

Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #6 on: November 29, 2017, 10:19:27 pm »


It's a safe assumption that any figures provided by AARP are tainted by their left-wing bias. But it does seem unfair to kill the extra deduction for over 65 when no other group is giving up a comparable benefit. They also lose the most from chained CPI, and have for decades been the only group deprived of inflation protection in the now-ridiculously-low social security taxation thresholds - many who were fully taxed at high marginal rates on their "contributions" pay again on 85% of benefits received. Too bad AARP never thought that was worthy of their attention...




Excellent post.

Thanks for bringing up terrible Chained CPI which will lower the annual increases for inflation.

Apparently  GOP "tax reform" has not even reconsidered the decades old, never indexed for inflation,  tax on Social Security that now is a burden to seniors with low incomes [which hopefully was not the original intent.]

Here's something else related... when the GOP replaces the personal exemption with a child tax credit,  not only does that not recoup the loss of personal exemptions for households with no children under 18... it is substituting a credit which is NOT indexed for inflation for a personal exemption which is indexed for inflation.

The devil is in the details.



Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #7 on: November 29, 2017, 10:28:17 pm »


The other major tax reform issue that greatly affects seniors...
is whether or not they can deduct medical expenses.



Offline Drago

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #8 on: November 29, 2017, 10:41:40 pm »
Yep, eliminating the medical expense deduction is going to hit my middle class parents hard (Dad is in skilling nursing with $8K+/mo. expenses paid out of pocket). They do have an LTC policy but it only pays about 45% of the bill.

Offline RetBobbyMI

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #9 on: November 29, 2017, 10:47:19 pm »

The AARP is a liberal leftist organization.

AARP members are complaining that AARP has done very little to lobby in behalf of seniors on the tax issue. 

 I've kept up with tax reform news for months. The AARP  has only recently spoken out on the tax issue.  Probably because so many of their members have threatened to jump off AARP's gravy train because AARP has been MIA on the tax issue.
AARp had a vested interest in the ACA because much of their income comes from the Medicare Advantage program which pays them kickbacks from United Health Care.  UHC also gets money to run the prescription drug program for part of DoD and the VA.
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Offline skeeter

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #10 on: November 29, 2017, 10:51:08 pm »
AARp had a vested interest in the ACA because much of their income comes from the Medicare Advantage program which pays them kickbacks from United Health Care.  UHC also gets money to run the prescription drug program for part of DoD and the VA.

How many of their members understand what happens to senior health care when increasing government control eventually results in rationed care. So much for AARP looking after their interests.

Offline Frank Cannon

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #11 on: November 29, 2017, 10:58:09 pm »
Quote
Consider: One senior AARP executive wrote the White House in November 2009,  saying “we will try to keep a little space between us” on health care – because  AARP’s “polling shows we are more influential when we are seen as independent,  so we want to reinforce that positioning….The larger issue is how best to serve  the cause.”

“The cause” in this case is liberalism, the Obama agenda and “Obamacare” in  particular.

https://theconservativetreehouse.com/2012/09/21/jim-demint-exposes-the-ugly-truth-of-aarps-agenda-profit/

Offline WingNot

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #12 on: November 30, 2017, 12:01:29 am »
Screw AARP

There are other alternatives like:

Association Of Mature American Citizens (AMAC)

AMAC began as a small start-up organization in 2007 and now has over a million members. AMAC was founded to provide an organization for Conservative seniors and to advocate for their interests. As well as political lobbying, AMAC offers a wide range of benefits to its members.

Membership age: 50
Cost: Starts at $16 per year
Spouse: Joins free
Benefits: Financial services including AMAC MasterCard, loans and advice; medical insurance; home, life, health and auto insurance; real estate services; roadside assistance; discounted dental and eyesight; reduced prescription costs; discounts on hotel bookings and car rental; retail savings including Office Depot, Papa John’s and 1-800-flowers; identity theft protection.
History: Founded in 2007
Membership numbers: A million plus
Affiliation or outlook: Conservative
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Offline Bigun

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #13 on: November 30, 2017, 12:04:19 am »
If the AARP is against something that makes me for it automatically no matter what it is!
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Offline RetBobbyMI

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #14 on: November 30, 2017, 12:16:45 am »
How many of their members understand what happens to senior health care when increasing government control eventually results in rationed care. So much for AARP looking after their interests.
AARP is a conniving, crooked and senior robbing organization. It ought to be investigated under RICO and other thieving laws.
"Life is tough, but it's tougher when you're stupid."  -- John Wayne
"Talk sense to a fool and he calls you foolish.� ? Euripides, The Bacchae
"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.� ? Laurence J. Peter, The Peter Principle
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Offline berdie

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #15 on: November 30, 2017, 03:01:32 am »
AARP is a conniving, crooked and senior robbing organization. It ought to be investigated under RICO and other thieving laws.

And that's the truth!!!

Offline montanajoe

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #16 on: November 30, 2017, 10:46:06 am »
I picked up a preview edition of H&R Block 2017 software last Friday. Plugged in my numbers for this year and compared them to the latest GOP Senate proposal...I'll be paying more is 2018... **nononono*

I guess I'm not rich or poor enough to see any benefit.. :shrug:

Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #17 on: November 30, 2017, 04:43:07 pm »

Screw AARP

There are other alternatives like:

Association Of Mature American Citizens (AMAC)



What is AMAC's position on tax reform ?

Can you point me to a news article where they are actively involved in speaking out for seniors ?

Would their voice matter ?



Offline thackney

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #18 on: November 30, 2017, 04:45:56 pm »

What is AMAC's position on tax reform ?

Can you point me to a news article where they are actively involved in speaking out for seniors ?

Would their voice matter ?

http://lmgtfy.com/?q=AMAC+tax+reform
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Offline Frank Cannon

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #19 on: November 30, 2017, 04:46:35 pm »

What is AMAC's position on tax reform ?

Can you point me to a news article where they are actively involved in speaking out for seniors ?

Would their voice matter ?

Show me where your AARP pals speak out for seniors. They speak out to keep their gravy train insurance scam rolling.

Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #20 on: November 30, 2017, 04:49:15 pm »


I picked up a preview edition of H&R Block 2017 software last Friday. Plugged in my numbers for this year and compared them to the latest GOP Senate proposal...I'll be paying more is 2018... **nononono*

I guess I'm not rich or poor enough to see any benefit.. :shrug:



I've been advocating all along that people do their own math.

I did my own math when there was only a House bill and I too would be taxed more.  Furthermore I represented a huge low income demographic group that could least afford it.

The Senate bill is much better for me.

God knows what the House/Senate compromise bill will be like.

McCain said recently that the tax bill changes so much even he can't keep up with it.



Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #21 on: November 30, 2017, 04:59:52 pm »


Show me where your AARP pals speak out for seniors. They speak out to keep their gravy train insurance scam rolling.


   

Did you even read the topic news article and my responses here before you attacked ??

The topic news article is about AARP speaking out about the tax bill.

Although... as I posted... AARP is a liberal leftist organization who has done a lax poor job of speaking out for the average senior... and many of their members are angry.





Offline KingsX

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #22 on: November 30, 2017, 05:06:18 pm »

http://lmgtfy.com/?q=AMAC+tax+reform



Thanks for the link. But I'm unable to access info on that webpage.

I'm sure they're using the latest state of the art computer technology...
and therein lies the problem for me... and probably many seniors...
who don't bother to keep up with the latest computer technology.




Offline thackney

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #23 on: November 30, 2017, 05:30:07 pm »
Republicans Unveil Their Framework for Tax Reform
https://amac.us/republicans-unveil-framework-tax-reform/

Tax Reform Just Got Real. Why the GOP Tax Plan Is Great News for America.
https://amac.us/tax-reform-just-got-real-gop-tax-plan-great-news-america/

Correcting the Record: The Truth About Tax Reform & Debt
https://amac.us/correcting-record-truth-tax-reform-debt/

We Need Comprehensive Tax Reform Now, says AMAC
https://amac.us/need-comprehensive-tax-reform-now-says-amac/

Tax Reform is Looking Good for the Middle Class, Despite the Naysayers, says AMAC
https://amac.us/tax-reform-looking-good-middle-class-despite-naysayers-says-amac/

This Critical Part of Tax Reform Would Help Liberate Small Businesses
https://amac.us/critical-part-tax-reform-help-liberate-small-businesses/

What the GOP Tax Bill Means for You
https://amac.us/gop-tax-bill-means/

https://amac.us/?s=tax&cat=main
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Offline RetBobbyMI

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Re: AARP: 5.2 million seniors could see taxes increased by GOP bill
« Reply #24 on: November 30, 2017, 05:36:03 pm »

Thanks for the link. But I'm unable to access info on that webpage.

I'm sure they're using the latest state of the art computer technology...
and therein lies the problem for me... and probably many seniors...
who don't bother to keep up with the latest computer technology.
most of the older senior either don’t own a computer or have no idea how to use it if they had one. My 87yo mother has an iPhone but can barely use it. My 92yr father has never used a computer in his life.
"Life is tough, but it's tougher when you're stupid."  -- John Wayne
"Talk sense to a fool and he calls you foolish.� ? Euripides, The Bacchae
"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.� ? Laurence J. Peter, The Peter Principle
"A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.� ? Bertrand Russell, A History of Western Philosophy