Trump tax a bust

Some of us don't get a pay check. LLC business owners/operators to be precise.

But between creative accounting, taking every deduction allowed, our taxes don't amount to a hill of beans anyway.

But even so we pass the tax burden on to the end product user. Capitalism rocks.

originally posted by: interupt42
a reply to: Dfairlite

LOL, 90% of middle income people got a tax cut.

I never said that I didn't get a tax cut. What I said was that I wasn't impressed with it and nothing to brag about.

How about you post your taxes from last year and this year for us to take a look through

Sure as long as you promise to keep it only between you and me, lol

In other words, the NYT is admitting they've brainwashed the masses and they are so dumb they ignore the evidence of their actual taxes in favor of the propaganda the media filled their minds with because.... reasons?

I don't read or listen to the NYT or any of the MSM news sources .

I calculated the percentage saved based on my income from last year to what I paid in taxes total , to my income this year and what I paid in taxes total this year. The result was a little better but still meh around 4% .

Good News then, your taxes will decrease every year until 2025 thanks to the Trump admin.

But if you're aren't impressed and can do without the money then by all means please send the govt a check to help out.

originally posted by: Gargoyle91
a reply to: interupt42

Did mine yesterday , I went from getting $1000 back to this year only getting $100 - Before anyone says that I got a raise because they took less out of each check , Well a extra $20 here and there isn't even noticeable .

$1500 a year is noticeable. If it's not to you then congrats on making so much money you don't notice getting a $1500 bonus.

a reply to: interupt42

No idea why you are not getting more than 4%. Trump gave America a tax cut though, and it seems to average out to 25%, regardless of your personal experience that's a job well done.

a reply to: OccamsRazor04

It's not when it's check to check I work on commission and my checks are always different , So by your reasoning I should determine what percentage of tax is being taken each check and compare that to last years check and save that money and give myself a refund at the end of the year ....

a reply to: interupt42

I just received my first refund in 8 years, so no... not a bust by any degree as far as I am concerned.

originally posted by: jjkenobi

originally posted by: interupt42
a reply to: Dfairlite

LOL, 90% of middle income people got a tax cut.

I never said that I didn't get a tax cut. What I said was that I wasn't impressed with it and nothing to brag about.

How about you post your taxes from last year and this year for us to take a look through

Sure as long as you promise to keep it only between you and me, lol

In other words, the NYT is admitting they've brainwashed the masses and they are so dumb they ignore the evidence of their actual taxes in favor of the propaganda the media filled their minds with because.... reasons?

I don't read or listen to the NYT or any of the MSM news sources .

I calculated the percentage saved based on my income from last year to what I paid in taxes total , to my income this year and what I paid in taxes total this year. The result was a little better but still meh around 4% .

But if you're aren't impressed and can do without the money then by all means please send the govt a check to help out.

you guys are like the lefts equivalents of the obama and hillary supporters .

just because i didnt see trumps tax cuts as anything worthy of bragging about it doesnt mean im a lefty. nor do i drink enough of the trump koolaid to not call a turd a turd.

in fact my issue is that trumps tax cut was not enough to be anything but a little bone thrown for political appeasement.
will see how how those future tax cuts pan out as the govt continues to spend like the democrats.

originally posted by: OccamsRazor04
a reply to: interupt42

No idea why you are not getting more than 4%. Trump gave America a tax cut though, and it seems to average out to 25%, regardless of your personal experience that's a job well done.

I think this may be an issue of what the percentage is being calculated from which isn't clear from the OP. This is what he said:

I calculated the percentage saved based on my income from last year to what I paid in taxes total , to my income this year and what I paid in taxes total this year. The result was a little better but still meh around 4%

If he took the income and said I paid 15% of my income last year, and 11% this year, then 4%, then it sounds like not much and may not be much money total. If he took the amount of taxes and normalized it to the current income, then compared the difference, it may very well be a lot more % wise which seems to be what the 25% number is coming from.

i.e. 20k taxes on 100k income vs. 24k taxes on 100k income is 4% of the income saved, but 4k is 18% percent difference in taxes.

a reply to: Halfswede

That is what I was figuring too. 4% to 0% is just a 4% difference .. but a 100% savings.

originally posted by: Gargoyle91
a reply to: OccamsRazor04

It's not when it's check to check I work on commission and my checks are always different , So by your reasoning I should determine what percentage of tax is being taken each check and compare that to last years check and save that money and give myself a refund at the end of the year ....

Not at all what I said. $20 a week is $1k a year. If you normally pay $4k a year in taxes and only paid $3k this year then that is a 25% difference, quite a big difference. If you don't know how to manage your money and you blow everything no matter how much you make then that is your fault, not Trump's. If you do manage your money properly then you have an extra $1k+ than you would have, thanks to Trump.

I made more money this year, and still paid 25% less in taxes.

a reply to: interupt42

That's too bad, I saved about 2.5k. Definitely helpful for me.

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%


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.

Sounds like you need better accountants.

originally posted by: OccamsRazor04

I made more money this year, and still paid 25% less in taxes.

Lets throw one more thing in the mix. Child tax credit was moved up to 400k from like 130k... 2500 per kid is not bad...

originally posted by: Dfairlite
a reply to: interupt42

That's too bad, I saved about 2.5k. Definitely helpful for me.

I gross $180k and my bi weekly went up $175 and my year end return went up $750 so that’s $5300 I got to keep that I didn’t previously. Also, on the corporate side, I was able to increase staff by 12% (payroll of 250) and increase existing staff payroll by 5% AND bumped 401k matching from 4% to 5% for staff. A staff off 250 that is 80% female and 60% minority with starting salaries around $15 per hour.

Imagine if the RINOS and Left Obstructors would have voted for it and made it permanent? How nice that would have been.

Oh yeah; that $5300 allowed me to cover community college tuition for my wife and son.

Keep in mind; Trump has done nothing to lose the votes he received in 2016 but certainly converted some never Trumpers, Indy’s, and even some moderate Dems. 2020 will be fun.

MAGA.... darn straight.

a reply to: interupt42

Your own words....

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

How did he stick it to you? If you have no proof you just sound like a CNN soundbite fishing for support.

Those bitching about the rich making more is silly.

If you make 100k a year and got back and extra 2k cool.
If you make 10-12 million per year and you get back an extra 10-15k cool.

It is based on how much you MAKE. You make more you pay more in taxes but why should they not be able to get some back?

Furthermore, if you are part time or a low age earner making less than about 12 bucks an hour you paid NO taxes. Those same people however are pissed because they cannot use the system and get, free, 4-5k from the IRS. Those days are gone and should be.

If you pay in, you should get money back but there should be no reason at all anyone gets money above what they paid into taxes.

It is a return on what YOU as a worker paid not free money from the government.

originally posted by: matafuchs
a reply to: interupt42

Your own words....

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

How did he stick it to you? If you have no proof you just sound like a CNN soundbite fishing for support.

Wow you guys sound as delusional as the Hillary supporters with their kool-aid when someone questions anything about your deity.

What support am I fishing for?

for the 1Bth time I'm no lefty and I have said that I'm glad trump won over Hillary and I don't see anyone from the left that is better at this time for 2020. So I'm not fishing for for the left or support of anything. Look at my post history.

However, when I see a turd I call it a turd versus trying to act like its a rose simply because it came from my political party.

You guys are acting like this tax reform was the most amazing incredible thing ever which I disagree with. From my experience its 'meh' at best and we can do far better than that. I have even said it was a step on the right direction and better than under Obama and previous POTUS , but not that much better.

So I posted that I was not impressed by trumps tax cut from my anecdotal evidence with my family and friends , who are all trump supporters it appears that they weren't either.

So IMO if this is all we are getting with this taxcut then in IMO its a bust.

Let me ask you this, is this all you want for tax reform ? Are you 100% satisfied if this is all we get? If you are great for you , me not so much.

I want more to be done in regards to the tax reform and spending. However you trump koolaid drinking individuals are acting like this is some MAJOR victory simply because of trump pushing it.

The consequence of calling this a victory is likely to stall any further progress in regards to tax reform.

So if I'm fishing for anything that's it. I don't want the koolaid trump supporters to claim this as a major victory when its just a step in the right direction and if we don't hold them accountable or demand more then this is all we get.

a reply to: interupt42

Not at all. All I am asking is how bad it was. A bust means you are paying more in taxes or paying taxes at the end of the year instead of a refund. Not about Kool-Aid. I think more should be done but right now this is a step in the right direction to make sure people are paying the taxes they should and that they are not abusing the system.

I could care less if Bozo the Clown passed the legislation as a Middle Income Earner in the US what was told, not promised, happened and I paid in less and am actually getting a larger return than I think I have ever gotten since starting to work at 14.

Those who do not support Trump however would never say they were doing better out of blind hate but I am not a blind follower of Trump. I just support the tax cuts and where they will go in the next few years also.

a reply to: matafuchs

All I am asking is how bad it was. A bust means you are paying more in taxes or paying taxes at the end of the year instead of a refund.

For me it was a bust because I only saw a 4% decrease on my total payout this year. I would have liked to seen a decrease in spending and at-least a 2 digit overall decrease in payout.

I think more should be done but right now this is a step in the right direction to make sure people are paying the taxes they should and that they are not abusing the system.

I dont disagree, but my issue is with the people acting like this reform was a major win when it wasn't . Like you said and I previously said, its a step in the right direction. Hence my issue is , if people treat this reform as a major win than neither trump or the neocon republicans are going to do anything else but give us this little bone.

Those who do not support Trump however would never say they were doing better out of blind hate but I am not a blind follower of Trump. I just support the tax cuts and where they will go in the next few years also.

Like I said numerous times its better but nothing to brag about .I have also said I don't see a candidate even remotely better coming out anytime soon from the left in regards to challenging trump. The left has gone FULL retard no doubt. so this isn't about some lefty agenda.

originally posted by: Lumenari
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

You must not have kids. Every middle class family with 3 or greater kids paid more tax on the same income this year. So basically they are paying more so you can pay less.