Post #49106 by Banksy on the US Policy board

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All of us old 65+ people will possibly get the $6k tax deduction gift for a couple of years.

Joe, I'm glad you said possibly...
Low income seniors, many of whom already pay little or no federal tax, might see little or no benefit, since deductions only reduce taxable income, not tax owed directly.

https://www.kiplinger.com/taxes/senate-seeks-bigge...

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