It's tax season- did the Trump tax cut help you? | |
Tim Foil Hat (OP) User ID: 75013875 United States 04/05/2019 09:24 PM Report Abusive Post Report Copyright Violation | What happened to the 10% across he board tax cut he promised the middle class during the last election? Oh yeah, he lied again. Quoting: Anonymous Coward 72128846 I paid $4000 less in taxes. Not sure on the exact amount I paid, but it was well, well south of $40,000. Did anyone else do the math or is everyone just going to complain with no numbers??? Careful! They are listening! VP Elect is the way to go. All the perks, none of the responsibility... |
Anonymous Coward User ID: 77478168 United States 04/05/2019 09:29 PM Report Abusive Post Report Copyright Violation | |
Tim Foil Hat (OP) User ID: 75013875 United States 04/05/2019 09:30 PM Report Abusive Post Report Copyright Violation | Tried to talk about this the other day in another thread and got accused of not being a trump supporter. Quoting: Anonymous Coward 36729630 The point is that people are complaining bitterly in ny because they aren't getting refunds, they're having to pay. Know someone who made under seventy grand, has to live with parents, can't afford an apartment, they had to pay an enormous amount. Honestly, those people are working against the folks with good news because they're the ones yelling the loudest. Felt POTUS' team needs to know about this because it will influence the election in ways they didn't anticipate. That's why I started this thread. I was really mad when I saw our refund cut in half, then did some research and resized we came out $4000 ahead due to Trump (then Illinois took some in a rush job income tax hike to offset the gains). Careful! They are listening! VP Elect is the way to go. All the perks, none of the responsibility... |
Anonymous Coward User ID: 77478168 United States 04/05/2019 09:32 PM Report Abusive Post Report Copyright Violation | |
Deplorable Xeven User ID: 75948321 United States 04/05/2019 09:33 PM Report Abusive Post Report Copyright Violation | I got a bigger bonus, large raise and my 401k exploaded but my personal tax was about same. I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean. |
Tim Foil Hat (OP) User ID: 75013875 United States 04/05/2019 09:33 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 57473568 United States 04/05/2019 09:34 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 77478168 United States 04/05/2019 09:35 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 77478168 United States 04/05/2019 09:37 PM Report Abusive Post Report Copyright Violation | If you gotta 'crunch the numbers' and 'really get into the math' then I can assure you the tax cutis bullshit. Quoting: Anonymous Coward 77478168 Aka..it did NOT help people. Yeah! Math is for suckers! Point is you usually don't have to try so hard to convince people they have more money...they usually know money when they see it. |
Anonymous Coward User ID: 74457708 United States 04/05/2019 09:40 PM Report Abusive Post Report Copyright Violation | This tax year was the most amazing year for me. They added QBI which let’s business owners deduct an addition 20% of income on top of all of our regular deductions. Let me deduct an additional $37,500 out of 229k income I only paid 16% federal tax. I had no idea about this new QBI deduction which is apparently just a gigantic handout to business owners. |
~kpm~ User ID: 75950402 United States 04/05/2019 09:46 PM Report Abusive Post Report Copyright Violation | If I compared 2017 vs 2018 it’s 1% higher I got a little money back on both state and federal but I plan it that way, to break even or as close to it ~With forethought and malice Whitless enacted an EO giving nursing homes immunity from wrongful death prosecutions, forced them to take in infected patients and is responsible for over 6500+ nursing home deaths~ |
Redcat1 Redcat User ID: 77352399 United States 04/05/2019 09:47 PM Report Abusive Post Report Copyright Violation | Did not help. A bit higher on a percentage of income basis. Small but still an increase. Owed more in federal taxes than ever before (almost $4,000) due to the updated withholding. I also had a salary cut around same time and missed the extra withholding. So had to adjust withholding for 2019. Became a 'standard deduction' couple for the first time since being married in 1988. Being house poor is no longer good as the mortgage interest and real estate taxes no longer make a difference. And the $10,000 limit on local and state taxes really hurts upper middle income earners - especially working couples. As expected - they did not reduce taxes on upper middle class. They can't. We are the group that provides the bulk of government income. There are no enough rich people to collect from, regardless how much they are taxed. And the lesser income just simply do not have taxable income to fund the government. So its the middle and the upper middle W2 earners that will never really get a break. That is the mathematical reality. |
Anonymous Coward User ID: 76731594 United States 04/05/2019 09:48 PM Report Abusive Post Report Copyright Violation | |
abalienari_non_possunt® User ID: 75350518 United States 04/05/2019 09:51 PM Report Abusive Post Report Copyright Violation | |
Tim Foil Hat (OP) User ID: 75013875 United States 04/05/2019 09:54 PM Report Abusive Post Report Copyright Violation | Since the cut was designed to create jobs, yes it helped me bc it sent many fellow Americans to work and off the “Democrat Free Shit Army”. Quoting: Anonymous Coward 76731594 Nice fail OP How is more people working a fail? Careful! They are listening! VP Elect is the way to go. All the perks, none of the responsibility... |
Snickrot User ID: 42895127 United States 04/05/2019 10:06 PM Report Abusive Post Report Copyright Violation | The economy is doing great. More green shoots each day. Consumer confidence is great. Unemployment is dropping. Stocks are soaring. Europe is saved. I like flouride. Chemtrails are pretty. FEMA camps sound fun. ~Anonymous Coward 1382145 No nation has ever benefited from prolonged war. ~Sun Tzu |
Anonymous Coward User ID: 76731594 United States 04/05/2019 10:09 PM Report Abusive Post Report Copyright Violation | Since the cut was designed to create jobs, yes it helped me bc it sent many fellow Americans to work and off the “Democrat Free Shit Army”. Quoting: Anonymous Coward 76731594 Nice fail OP How is more people working a fail? It’s not. I assumed you were another American hating Democrat trying to reposition what the tax cut was meant to be. If not, my apologies. However you still seem to misunderstand what the tax cuts were all about. |
Twayjay User ID: 75442511 United States 04/05/2019 10:19 PM Report Abusive Post Report Copyright Violation | Turns out I’m still getting a pretty nice return for both federal and state. Last Edited by Twayjay on 04/06/2019 01:11 AM |
Proud Trump Supporter User ID: 38091781 United States 04/05/2019 10:21 PM Report Abusive Post Report Copyright Violation | We were very impressed with the tax cut and got more $$ back then expected. The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. Winston Churchill Daily Updates Thread: ASS IS IN THE WRINGER - Rolling Updates from 11/16/20 to present (Page 316) |
Arthur Jackson User ID: 76244356 United States 04/05/2019 10:27 PM Report Abusive Post Report Copyright Violation | Yup got more income in total less withholding back. A good thing. Smoke me a kipper, I’ll be back for breakfast. If you do not take an interest in the affairs of your government, then you are doomed to live under the rule of fools. — Plato “AI is kind of a fancy thing, first of all it’s two letters. It means artificial intelligence.” Kamala Harris VPOTUS |
doglikeRoRuctions User ID: 76976109 United States 04/05/2019 10:32 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 72435987 United States 04/05/2019 10:34 PM Report Abusive Post Report Copyright Violation | |
docsquat User ID: 77115998 United States 04/05/2019 10:36 PM Report Abusive Post Report Copyright Violation | Most of the sheep can’t do math. They just say “I didn’t get as much back”. First off, if you’re getting money back you screwed up. You should alway shoot for owing them about a grand. It’s an interest free loan to you instead of a you giving them an interest free loan. Then take you taxable income from THIS year and plug it into your last year tax return. See what your taxes would have been on the same income using last years rates and compare them to this year. I saved about 10%. Now I did receive the higher standard deduction because I don’t pay mortgage interest. Purity of Essence |
Anonymous Coward User ID: 9982604 United States 04/05/2019 10:39 PM Report Abusive Post Report Copyright Violation | |
PureSnow User ID: 77186343 United States 04/05/2019 10:40 PM Report Abusive Post Report Copyright Violation | |
Chewiewren User ID: 74873551 United States 04/05/2019 10:40 PM Report Abusive Post Report Copyright Violation | There is no such thing as a coincidence. The smallest coincidence can be the hinge on which future events turn. “If you don’t read the newspaper you are uninformed and if you do read the newspaper you are misinformed.” …Denzel Washington |
Anonymous Coward User ID: 72435987 United States 04/05/2019 10:43 PM Report Abusive Post Report Copyright Violation | The smaller number of tax refunds this year is showing up in another way: Lower retail spending. Retail sales dropped from January to February, surprising economists who had expected a modest rise as seen in past years. Indeed, excluding car purchases and gas (whose price has been rising), February's retail sales were 0.6 percent below January's. Analysts say that lower tax refunds are largely to blame for the drop in spending, since many families use refunds as a "mandatory saving" mechanism that pays out each year come tax time. For the median family receiving a refund, it amounts to more than three weeks' pay, a JPMorgan Chase study found last year. In the weeks after a refund is received, families spend more on large purchases such as furniture or appliances; credit-card payments and travel, the study found. So far this year, the Treasury has issued $4.4 billion less in tax refunds than this time last year, according to the latest IRS data. The number of tax refunds issued is down by 1.9 million. That's partly because many taxpayers were slower to file and partly because fewer are eligible for a refund this year. And lower refunds means less spending money. UBS revised its estimate of tax refunds received in this tax season, writing that its initial guess was too optimistic by a whopping $25 billion. "We now expect the shortfall in the first phase of tax season, driven by smaller refunds, to be $25 [billion] below our initial forecast," UBS analysts wrote in a note. "[W]e attribute much of the decline in February retail sales to the pattern of this year's refunds." [link to www.cbsnews.com (secure)] |
1-2-Follow User ID: 72953577 United States 04/05/2019 10:45 PM Report Abusive Post Report Copyright Violation | Yes. Wife and i make around 100k combined. $2200 less taxes paid this year than last, Articles and "news" from liberal media shall now be known as catnip for libtards. Truth is schilling in the empire of retards. "Yep but for now we dub you toast guy." - AC520845 *PROCLAIMED PROPHET OF THE DOW* ® Let me know when the climate STOPS changing, then i'll be worried. |
Anonymous Coward User ID: 77532861 United States 04/05/2019 10:46 PM Report Abusive Post Report Copyright Violation | |
1-2-Follow User ID: 72953577 United States 04/05/2019 10:47 PM Report Abusive Post Report Copyright Violation | It didn't help the middle class.. Quoting: Anonymous Coward 77478168 Nobody gives a shit about a couple bucks per week more and paying more end of year.. Im willing to bet Trump netted MORE taxes from middle class by eliminating the state deduction alone. Bullshit Helped me greatly and the company i work for. End of story Last Edited by 1-2-Follow on 04/05/2019 10:47 PM Articles and "news" from liberal media shall now be known as catnip for libtards. Truth is schilling in the empire of retards. "Yep but for now we dub you toast guy." - AC520845 *PROCLAIMED PROPHET OF THE DOW* ® Let me know when the climate STOPS changing, then i'll be worried. |