Did anyone fall for the tax cut nonsense?

[egokiller]

Save for a few trump tards on here, did anyone fall for it? Doubtful.

The average home owner with total family wages of $78k - $168k that claimed itemized in 2017 and standard deduction in 2018 filing jointly saved less than 3% on their federal taxes between 2017 and 2018. So if they paid 15% after taking their refund into account on their 2017 filing, then they paid somewhere a little over 12% on their 2018 filing. Those falling in the middle of that range around $123k saved less than 2%.

Take a guess at how much big businesses and the rich saved

https://www.thebalance.com/trump-s-t...ts-you-4113968

"Dis tax cut gonna benefit da middle class that most doe"

Sheep will believe anything. In fact people who are single with no kids could see their taxable income be about 1.5% higher than it would have been using the old law. This is because the old Personal Exemption + Itemized Deduction is slightly higher than the new Standard Deduction ($12k). IOW, losing the PE hurts them more than the new, higher SD.

Some could also pay higher taxes because bunching of deductions in their personal situation under the old rules was good to them, but is prevented with the new rules.

Decent income earners in a high tax state will get hosed as they lose their SALT deductions and exemptions and the increase in standard deductions doesn't make up for it. The withholding tables changed on top of that which resulted in them owing money.

So on top of our trillion dollar debt this "Tax Cut" given to our economy results in some having to pay even more in taxes than they already do.

[Prometheus]

BREAKING NEWS:

Politicians serve the interest of their financiers, not the interests of their voters.

[PickernRoller]

No one believed it. Doing my returns by the end of the week.

There is a reason the GOP/Dems passed the tax cuts without any issues but both parties have steamrolled Trump everywhere else.

[tpols]

BREAKING NEWS:

Politicians serve the interest of their financiers, not the interests of their voters.

this was supposed to be the saving grace of trumps congress.... and we had many posters here touting the tax cuts when people were getting chump change bonuses last christmas.


the trumptards deserve to be called out by name here.

[PickernRoller]

Both parties are in on the jig tho...

Doesn't really matter for those that bleed dem to score points on some MAGA kids. It's inconsequential as the never ending bickering.

The party you bleed for is just as bought and paid for.

[tpols]

Both parties are in on the jig tho...

Doesn't really matter for those that bleed dem to score points on some MAGA kids. It's inconsequential as the never ending bickering.

The party you bleed for is just as bought and paid for.

nah dems were not pushing any big corporate tax cuts... that was never in their agenda.

[egokiller]

Right down to the city level. I recently found out those living in my city pay more per gallon of water than all the neighboring cities. Those that run the city figure that people who live in a nicer city should pay more even though there’s no difference in water quality. Why fight for citizens best interests when that won’t result in kickbacks from the suppliers of such utilities? I plan to make it known to everyone. Fvcking me over is one thing, no one fvcks over my fellow neighbors. The elected city officials have a better chance of winning the lottery than getting re-elected after more are made aware.

[ScalsFan21]

The list of odious GOP "achievements" when they had the WH and both chambers is long, but tax cuts for the rich probably top the list.

It's easy to hate on Pelosi, there was nothing more cringe than watching millionaires on Faux try to talk about how out of touch she was to call the "relief" what it was: crumbs.

Shit literally raises taxes after a decade on anyone making under $75K. That's probably the worst part of an absolutely barbaric law. And no matter how unpopular that bill was and remains, the "socialists" in the Democratic Party still won't vocally run against it in 2020.

[ScalsFan21]

Both parties are in on the jig tho...

Doesn't really matter for those that bleed dem to score points on some MAGA kids. It's inconsequential as the never ending bickering.

The party you bleed for is just as bought and paid for.

No question about it. The GOP is worse, but they are two sides of the same coin.

[Draz]

I'm getting less tax returns than last year so far turbotax is predicting yet made the most money so far. What the ***

[egokiller]

I'm getting less tax returns than last year so far turbotax is predicting yet made the most money so far. What the ***

Trump lied to you.

No wall.
No tax cuts of acceptable amount to a majority of middle classers.

Can orange man deliver on anything? And this coming from someone who leans right on many issues.

[bladefd]

I wonder how much Trump and his billionaire buddies made from these taxcuts.. This was one of the very first things he wanted done even before he took office so I'm certain he and his buddies made off like bandits..

[highwhey]

I'm getting less tax returns than last year so far turbotax is predicting yet made the most money so far. What the ***

same here. i received $2500 last year and i made a lot more this year yet i am getting less...

[Akrazotile]

Save for a few trump tards on here, did anyone fall for it? Doubtful.

The average home owner with total family wages of $78k - $168k that claimed itemized in 2017 and standard deduction in 2018 filing jointly saved less than 3% on their federal taxes between 2017 and 2018. So if they paid 15% after taking their refund into account on their 2017 filing, then they paid somewhere a little over 12% on their 2018 filing. Those falling in the middle of that range around $123k saved less than 2%.

Take a guess at how much big businesses and the rich saved

https://www.thebalance.com/trump-s-t...ts-you-4113968

"Dis tax cut gonna benefit da middle class that most doe"

Sheep will believe anything. In fact people who are single with no kids could see their taxable income be about 1.5% higher than it would have been using the old law. This is because the old Personal Exemption + Itemized Deduction is slightly higher than the new Standard Deduction ($12k). IOW, losing the PE hurts them more than the new, higher SD.

Some could also pay higher taxes because bunching of deductions in their personal situation under the old rules was good to them, but is prevented with the new rules.

Decent income earners in a high tax state will get hosed as they lose their SALT deductions and exemptions and the increase in standard deductions doesn't make up for it. The withholding tables changed on top of that which resulted in them owing money.

So on top of our trillion dollar debt this "Tax Cut" given to our economy results in some having to pay even more in taxes than they already do.

Wait, who said this? Where?

Link?

[Akrazotile]

If one group already pays by far the lion's share in taxes to begin with, obviously a tax cut is going to proportionally help them more, right?

But since they already pay the most by far, what is the problem with bringing their tax liability closer to what everyone else pays? Even if we set aside any potential economic benefit of saving business more money, it's just simple equality right?

Isn't that equality? Don't we want equality?

Or are we talking about "left wing" equality here?

"I dont have to pay 60% of my taxes to help those less fortunate than me, but guy richer than me has to pay 60% to help me!!!!!!"

Hey, whatever. Some people have a loser's mentality. Complain they aren't being given enough, even they tho dont expect to have to give anything themselves.

Just look at the list of complainers in this thread. Tells you everything you need to know.