2018: Feds Collect Record Individual Taxes

nice try, but what Trump did was take their tax refund they would normally get and spread it through the year on their pay check, so people thought they were getting that and would get their normal refund as well, they did no know trump was scamming them

in Dec 2017 Trump promised them a tax cut for Christmas, people were excited, then did not get it when filing taxes in 2018, people said, no that will be next years refund... and here we are 2019... and now Trump supporters are blaming the working class for not knowing Trump was scamming them

 

Stay the course.

We need more and more jobs, more total people working, less people sucking teat.

 

GDP Estimate for 4th quarter 2018 (and before shutdown) 1.5% !!

 

Well that would be their fault for being stupid.

Trump can't fix stupid.

I got a smaller refund also but saved far more overall.

 

They were also told the withholdings would be adjusted and it is entirely stupid to budget based on a tax return which shouldn't be huge to begin with if you have adjusted your W-4 properly. If you are properly handling your taxes you should be paying a little at tax time.
Taxes 101 never have government withhold more than what you owe.

 

If its a scam to owe the government less taxes and to have more money in your pocket with each paycheck then PLEASE scam me some more.
The scam is our withholding system and people thinking they did good on taxss because they got a HUGE refund. Surely you don't fall for that scam do you?

 

Spending .........

 

And you listen to the current crop of Democrat Presidential hoepfulls and hear them talking about how they are going to cut spending and cut the deficits and balance the budget? Why should I believe there are more fiscal conservatives in the Democrat party? When have they ever produced balanced budgets or even small deficits?

 

No, Trump didn't need to make it 'clearer', it is the Taxpayer's responsibility to make sure the correct amount is withheld from their check to satisfy their tax liability.

If people are not able to figure out that they were getting more in their weekly paycheck, that it might reduce the amount they received at the end of the year, then they have a deficiency in basic math.

Your statement regarding 'SALT' is incorrect. The deductions were CAPPED, not ELIMINATED, and only applicable for those who had sufficient deductions to itemize.
https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained

 

yes, Trump should of made it clearer to the people, Trump played the working class... Sad!

the working class knew they were getting more in their paycheck, they thought that was Trump's tax cut, they did not know Trump was playing a shell game

 

Ouch! That's gonna leave a mark.

So consumption fell and producers immediately reduced inventory investment, if these claims prove out. That's a rapid adjustment to a change in consumer spending.

 

False premise, but whatever you think justifies people's inability to do math....

 

The Trump Admin warned about tax withholdings...why people didn't listen....I don't know...https://www.marketplace.org/2018/09/10/economy/irs-warns-taxpayers-check-their-withholding

 

Hey, whatever happened to submitting your tax return on a postcard? That must have been fake news? Wasn't the idea to make it EASIER for people to deal with their taxes, not HARDER? So, now, people will have to go on a multi-year trial and error to get the new withholdings adjusted so they don't owe taxes in spring, neither get a refund? That must be some simplification.

Second, when I did my taxes a few days ago, I had ZERO time saved compared to last year. I still had to go through 100s of questionnaires from the tax software, new law or old law.

So, I stand by my assumption posted in another thread that the tax withholding tables were changed ON PURPOSE to make it seem that the benefit from the tax cut were bigger than they actually were, in order to promote a short-term burst in consumer spending, and, thus, economic growth. Well, we got one quarter of 4% GDP growth from it, but, as expected, that couldn't be sustained. Consumers notice fairly quickly when they are scammed.

 

Since they current selection of people have no clue how to figure out what to have withheld from their taxes, here's a 'bing' link for you. https://www.bing.com/search?q=how+t...02AE3483844D35A82F764E31ACEA2D&FORM=QBRE&sp=2

There were literally hundreds of articles about how the tax changes would affect people. If people didn't bother to educate themselves on the subject, then they carry the weight for not being informed. Just because your tax software asked you 100s of questions, means it did not know what was applicable to your personal situation. Is the software supposed to know if you had farm income without any input from you?

Tell me, when (if) your wages change over the course of a year, do you recalculate your withholding? I do. But then again, I believe in being pro-active, instead of reactive.

Before you jump to conclusions regarding consumer spending, perhaps we should see what ACTUALLY happens, hmm?

 

Well there obviously aren’t any fiscal conservatives in the Republican Party, so why can’t they be honest and admit they don’t care about the debt?

 

Wow, I did not peg you for one who was so soft-minded as to base your beliefs about what’s true on whether there’s a catchy, partisan-invented term for it. I suppose you believe most women on welfare are “welfare queens,” too?

 

$1,665,484,000,000: Feds Collect Record Individual Income Taxes in Calendar 2018--as Debt Climbed $1,481,349,159,596.80.

Somehow in your post you forgot to mention that the taxes were individual income taxes not total taxes. Amazing what inflation can accomplish almost got individual tax collection wher adjusted for inflation up to the 2015 collection. Not to mention of course the massive divident increases accruing to the rich thanks to the Trump tax cuts.

 

No, but I did miss the part where it says the uninsured immigrants aren’t paying for doctor visits in cash, or the percentage of them that are visiting doctors at all. Do you have those stats or are you just making biased assumptions based on your already partisan views? Fact is, immigrant mothers in “poverty” are still living so well relative to the conditions they left that they don’t need welfare because they are willing to accept more modest living conditions.

 

In the past, I have changed my W4 form when I changed employer. I see no need to do it when I get a raise. Since I overwithhold on purpose, I did not get hit when filing the return as other people did.

I still fail to see how tax returns will fit on a postcard, as was the propaganda during the tax reform push. I use TaxAct, I see no reason to believe that the program has shortcomings. I also do not see how people save time filing their taxes, as I have predicted before the tax "reform" bill was pushed through.

As to the economic effects, I think it is pretty clear that consumer spending drives GDP, so if the consumers would take their tax cut and stuff it under the mattress, there would be no economic benefit of the cut. Therefore, for people who advocate for the benefits of tax cuts, it is imperative that consumers spend as much (or more) of their tax cut as possible to see an economic effect. That is just common sense and I am not sure what the controversy is.

 

Actually I think Trump did say something about not caring since he wouldn't be in office when the bill for his tax cuts and the resulting deficit . came due.

 

If I was soft minded, I would be posting cheap insults. We can argue how much of a burden illegal aliens are to tax payers, but they are a unnecessary burden nonetheless.

 

I didn't read this whole circle jerk thread but when the literal F where conservatives happy about individuals paying more taxes? More money into government coffers means less money in the private economy, less money on Main street. Trumpists make me sick.

 

Well you should've read the thread no you look pretty ignorant. The only people that paid more are people that paid in more than $10,000 in property tax, hence the rich. How anyone could be this ignorant is beyond me, similar to the idiots bitching their refund was less because they got more in their paycheck, it's mind boggling how dumb America is getting, scary how elementary math can't be done anymore.

 

Its the only place where they are. Who on the Democrat side are going to do it?