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originally posted by: FredT
a reply to: burdman30ott6
That would be true if I was complaining about my STATE taxes but thats just federal. I added a line in my rant to make clear its the Feds bending me over. The state taxes were flat this year
originally posted by: RickinVa
My case is fairly simple... I file short form every year.
My taxes for the year 2018, I gained $250.00 on federal....I lost $445.00 on state.
Ky lowered the non-taxable retirement exemption from $41,110 to $31,110
That caught me off guard because I have always got a full refund from state. I have searched but can't find the reason for the change, to see if it was due the new tax laws.
Basically I got a negative $250 bottom line.
originally posted by: Hypntick
So my mother and I had a talk about income recently, and we talked about what we brought home each month. I honestly have no idea how she lives, and she makes pretty decent money. I on the other hand fall into that 10% of single earners over 100k, which when you get used to it, doesn't really seem like much...until you're around people who don't earn that much, puts it into perspective.
originally posted by: Lumenari
a reply to: Metallicus
ETA... my dream is to juggle everything around to where I get $1 for a federal return.
That way I gave them nothing more than I owed and they would have to do all the work... and then send me a dollar.
The working poor work every bit as hard and at times harder than the high income earners.
originally posted by: Blarneystoner
How many here understand that it's only going to get worse... not better.
In 2025, the individual tax cuts you might be enjoying now, will expire. Corporate tax rate cuts will be made permanent.
Individual tax rates will increase after 2025 to pay for the permanent tax cuts on corporations.
And here's the kicker.... your tax bracket will change as well. The GOP tax plan includes an inflation measure called chained CPI.... the result of which will push individual filers into higher tax brackets while the value of many tax credits remains effectively unchanged. You'll be paying more taxes on the same income without an increase in exemptions to adjust for inflation...
Anyone feeling like they've been screwed? Don't worry, you will....
originally posted by: jjkenobi
a reply to: Blarneystoner
Against the GOP plan then eh? Well let Dems win, they plan to tax even higher and have the govt take care of you. Don't like that option either? Too bad. Leave the country I guesss?