Understanding the Senior Bonus in Trump's Bill

What is the main promise of Trump's bill regarding seniors?

• Complete elimination of taxes on Social Security

• A new deduction up to $6,000 per person

• Increased Social Security benefits

• Permanent tax cuts for all seniors

What is the income limit for a single filer to qualify for the full deduction?

• $50,000

• $75,000

• $150,000

• $100,000

Which group is most likely to benefit from the senior bonus?

• Seniors with no income

• Seniors with high incomes

• Middle-income seniors

• Seniors on disability benefits

What was Trump's campaign promise regarding Social Security taxes?

• To increase Social Security taxes

• To reduce Social Security benefits

• To make Social Security taxes permanent

• To eliminate taxes on Social Security

Why did the bill opt for a deduction instead of repealing Social Security taxes?

• To make the change permanent

• Due to Senate budget rules

• To simplify the tax code

• To increase government revenue

What is the estimated cost of making the deduction permanent over a decade?

• $500 billion

• $250 billion

• $1 trillion

• $100 billion

What percentage of seniors are estimated to owe zero in Social Security taxes under the bill?

• 95%

• 50%

• 70%

• 88%

What is a major concern about the deduction's impact on the Social Security trust fund?

• It will double the trust fund's resources

• It will have no impact on the trust fund

• It will deplete the trust fund faster

• It will increase the trust fund's surplus

What should seniors do to understand if they qualify for the deduction?

• Ignore the deduction as it is not beneficial

• Wait for automatic notifications from the government

• Assume they qualify if they are over 65

• Consult a tax adviser and check income thresholds

What is the main criticism of the senior bonus in the bill?

• It provides too much relief to all seniors

• It is a temporary measure and not a permanent solution

• It increases taxes for low-income seniors

• It eliminates Social Security benefits