Social Security Tax Break Sparks Controversy – New Deduction Favors The Wealthy
A newly introduced $6,000 income tax deduction for Americans aged 65 and older is being marketed as a major relief for retirees. However, deeper analysis reveals that this benefit largely favors wealthier households, while offering little to no relief for low- and middle-income seniors. More troubling, experts warn that the change could further weaken the solvency of both Social Security and Medicare trust funds, moving up their projected […]