Trump tax a bust

Well not surprisingly trump stuck it to me like Obama and every POTUS before him.

Apparently even my other republican buddies have come to that realization.

I have said it before and will say it again , if we don't get a flat tax type system with NO deductions then the majority of middle class Americans will continue to get screwed.

Not sure why republicans are or were praising this tax cut as a big win, because it was a joke. You should demand better than that BS and hold republicans accountable for it.

a reply to: interupt42

Don't worry just like with healthcare I'm sure he'll make up a reason why he can't get it done and promise to work harder if you only vote for him again in 2020.

Republicans were praising it because that tax cut for the wealthy has been a major part of their plans for a long while. They had Trump to sell it to his constituents as a tax cut for the working man but now it is dawning on many that that was just a cover for what really happened.

a reply to: interupt42

The problem is our elected politicians are paid by lobbyist for a few things but none are greater than forking out taxpayer money and creating favorable tax and regulatory laws for their donors.

If there was a no deductions flat tax, congress would lose 50% of their power and donors.

That is the bottom line.

a reply to: interupt42

It may because you can't do basic math.

Before the tax cuts with what I pay myself I paid 9,000 a year in Federal taxes and received back about $400.

So my taxes were roughly $8,600.

After the tax cuts, I paid $260 a month less in taxes, my taxes paid were 7,500 a year and I got 600 back.

The difference...

9000 paid and 400 back is 8,600 to the Feds.

After the tax cuts were a little different.

2016 = 8600 to the feds.
2017 = 7500 - 3100 + 600 = 5000 paid to the feds.

Perhaps you didn't realize that when the tax cuts came in, you got a raise.

Personally, I am paying 3,600 less a year.

But hey.. maybe I'm the 1% now?

LOL

originally posted by: infolurker
a reply to: interupt42

The problem is our elected politicians are paid by lobbyist for a few things but none are greater than forking out taxpayer money and creating favorable tax and regulatory laws for their donors.

If there was a no deductions flat tax, congress would lose 50% of their power and donors.

That is the bottom line.

I wonder if any of the people running for potus (including trump) are talking about this? Making this a top issue?

If they arn't we have to ask ourselves, why.

a reply to: interupt42

GOP bombarded by furious taxpayers after promotion of Trump’s tax cut hilariously backfires

www.rawstory.com...

I can't under stand why everyone doesn't incorporate with an LLC and take advantage of all the corporate tax deductions allowed by law.

a reply to: Lumenari

It may because you can't do basic math.

Right I only have an engineering degree and a minor in math. Besides that I use accountants.

But go ahead and spin it all you want.

Personally, I am paying 3,600 less a year. But hey.. maybe I'm the 1% now?

Glad it worked out for you but for me and several other hardcore republican friends it did not. if you are the 1% with those number than I'm the .00001%


Look I have no grand delusions of the left and I'm thankful that Hillary didn't win , but this tax cut was a joke and certainly nothing to celebrate about as some major win.

a reply to: interupt42

I saved money.

*shrug*

And my accountant is from Portland.

a reply to: interupt42

That's because you've been lied to by the media.

If America has benefitted from the Trump tax cuts, why do so many Americans think they're losing out? Even The New York Times had to admit this is the result of liberal bias: "To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase."

Democrats pushed a sustained public misinformation campaign, branding the tax cuts a "GOP Tax Scam." Amid suggestions that Americans have no property rights, they noted that long-term projections suggested Americans' taxes will increase in 2026, when temporary provisions of the law expire. This is standard practice, and most tax cuts are extended, but Democrats falsely claimed that the Trump tax cuts were actually a tax increase.

Even the NYT admits this is the effort of a broad propaganda campaign designed to make you think you didn't actually get a cut, and if the only way you measure a tax cut if the size of your refund, it's likely been successful. The cut was realized in less withholding from your actual paycheck. We made more each month instead of getting more back after filing. Sadly, that's as it should be, but people think of their return as some kind of annual bonus.



Yglesias, btw, works for Vox.

originally posted by: interupt42
a reply to: Lumenari

It may because you can't do basic math.

Right I only have an engineering degree and a minor in math. Besides that I use accountants.

But go ahead and spin it all you want.

Personally, I am paying 3,600 less a year. But hey.. maybe I'm the 1% now?

Glad it worked out for you but for me and several other hardcore republican friends it did not. if you are the 1% with those number than I'm the .00001%

Then I'm sorry that with your degree you don't understand math and make less than 40k a year.

Because those of us that made between 40k and 250k paid less this year than we did the year before.

Don't know what to tell you there...

But ETA... I'll take a "I get $3,600 more a year to put in the bank" spin.

Yea... I'm spinning that all over.

But go ahead and spin it all you want.

Member demonstrates tax savings and that is the reply?

nice

I ended up on the positive side 2k better than 2018.

Is that also "spin"?

a reply to: interupt42

Flat tax? What did Bezos make last year? 81k, right? These people are compensated in many other financial instruments. Good luck with that theory. How about we dump personal income tax entirely? Its the only fair solution.

a reply to: interupt42

The left and the right try to act like they don't participate in austerity.

Both continue to vote up the budget.

We could pick apart how each side frivolously blow money differently. But the real problem is where they agree. They agree on all the wrong items while polarizing on the wrong things.

a reply to: Lumenari

Don't feel bad. You weren't alone. We were in the same boat. Less withheld meaning more in our monthly paychecks, and about the same at tax time.

a reply to: ketsuko

refund,

hahaha what is that thing you call a refund?

The cut was realized in less withholding from your actual paycheck. We made more each month instead of getting more back after filing.

I compared it to what I paid overall last year to what I'm paying overall this year irregardless of the withholding.
withholdings is just playing with numbers .

I know many people who got lower refunds this year 😎

Most "get it" because they got more every paycheck 😎

Numbers matter 🤓

If Democrats ever get any big power again, it's curtains for everybody 😎

originally posted by: shooterbrody

But go ahead and spin it all you want.

Member demonstrates tax savings and that is the reply?

nice

I ended up on the positive side 2k better than 2018.

Is that also "spin"?

By now we're used to the rightwingers lying to protect trump and his failed policies.

www.politifact.com...

a reply to: interupt42

Numbers I don't get to play with. We let them take as little as is allowed by law, so our return is never very large. I'm talking about the things the employer has to take out by law. That side was less, so we got to take home more every month on top of the annual raise.

a reply to: drewlander

Flat tax? What did Bezos make last year? 81k, right?

Thats income. You base the flat tax based on earnings not just income.

He earned more than his 81K salary. Granted we need to clarify the earnings part.
He is not paying for his 100M house and other extravagant things with a 81K a year salary.