Trump cut taxes for 80% of Americans-prove me wrong.

Im seeing the lefty narrative shifting to Trump's tax cuts only benefit the wealthy.

Thats a narrative inconsistent with fact.

Not only did Trump cut taxes for 80% of Americans, but his policies have also led to an increase in federal revenue, and a decrease in unemployment as more small companies (that employ most Americans) are hiring.

Why Don’t Most Americans Realize They’re Getting Tax Cuts for Christmas?
https://www.theatlantic.com/politic...heyre-getting-a-tax-cut-for-christmas/548852/


Trump tax cut provides relief for 80% to 90% of Americans: Sen. Mitch McConnell
https://www.foxbusiness.com/politic...for-80-to-90-of-americans-sen-mitch-mcconnell

Analysis from Left-Leaning Tax Policy Center: Actually, 80 Percent of Americans Get a Tax Cut Under GOP Plan
https://townhall.com/tipsheet/guybe...uts-taxes-for80-percent-of-americans-n2424201

 

And for the rest he gave a tax increase. I got the tax increase.

So how much of a tax cut did you get folks?
I'm sure you saw it in your paycheck right?

Maybe you had to look really hard...because for most it wasn't more than a cup of coffee or so per week.

Of course if you make some serious money...you probably got enough to buy a yacht

 

I got huge tax cuts, a bonus, equity and my stocks are going through the roof.

Thank you President Trump.

 

From the link above

Even Republicans involved in the drafting don’t understand it. On Tuesday, HuffPost’s Matt Fuller asked 18 members before he was able to get one to name the brackets in the new bill; House Ways and Means Chair Kevin Brady said he knew them but wouldn’t say what they were. Senator Bob Corker, accused of flipping to support the bill after a provision was added that would personally benefit him,defended himself by saying he hadn’t read the bill. If the people who passed the bill haven’t read it and can’t understand it, it’s no wonder that the public doesn’t either.

 

You just made my point for me.

If you make serious bank...you got a really nice taxcut. Vacation home?

Yacht?

And we got....


Yea...pretty much nothin

 

I think the best thing to do is to wait until we actually file our returns next year and then talk about what happened.

Since we are all anonymous, it would be interesting to hear about the actual dollars and cents of people's tax returns (that way we can all fact-check them against the tax code). If some people are actually getting a tax increase, it would be interesting to see how that happened.

Seth

 

How much do you make a year? What do you do for a living?

 

A dollar amount and state is all that is needed to accurately check the veracity of any claims

And if there were tax cuts...they would show up in most paychecks already

 

I make a little over 100K a year. I live in NY and have substantial deductions for state income taxes and property taxes that I will now lose.

My tax prep guy has informed me to be prepared to lose about $2500.

What I do for a living in none of your business and irrelevant to this topic

 

Get a new "tax prep guy".... or rather, get a real accountant. You should be getting money back, especially if you are a bit savvy.

 

A dollar amount and state would be a start. But dependents matter and whether or not a person itemizes deductions matters. Some people (like me) have itemized for decades, but I won't next year when I file my 2018 returns because of changes in the tax code.

My own situation is that I have lost my ability to itemize because things I used to itemize are no longer allowed, but I am subject to lower rates. That, of course, gives me a result. What I project is a lower tax bill for 2018.

But when we actually do the math and file, we'll all be in the best position to talk about it and evaluate.

Seth

 

Maybe you ought to read the tax bill. It CAPS the tax deductions I described

 

Same. I even purchased a new target pistol with what I got back.

Its a nice one.

 

What date was the article you cite published?

 

I made over twice that in a state that is taxed even higher.

And I saved more than you lost.

If you are making that amount, you probably pay that amount in taxes monthly, perhaps even more.

 

Seriously.

 

If you make serious bank, you pay far more in taxes. (we have a progressive tax system)

Of course you will get more out of a tax cut.

Why should taxes be progressive, but cuts regressive?

(rhymes with marxism)

 

Insightful post.

I'd add that some of us also file quarterly.

 

That's exactly as I have been saying.

If you make a quarter million...you got a real nice tax cut.

And yes I pay much more than $2500 in taxes.

Are you pretending to know something about this?

 

You guys are making my point for me and don't even realize it.

If you make low six figures in a high tax state you get a tax increase.

If you make a lot more...you actually get a tax cut.

If you make less...you get what amounts to bubkus...but we don't need to tell the guy making $50K or $60K. He can see it in his paycheck...well he'd have to look really hard cause it's pretty friggin small.

 

what about "fair shares"? vis, why should I down here in Florida have to make up for New York's substantial state income taxes that the federal government was allowing you to deduct (a substantial portion of) from your federal income tax burden?

Maybe you should be mad at New York's leftist lawmakers and governors who are soaking you so they can buy the votes they need to stay in power.

 

What "guys" kid?

I make a (higher by over twice) income than you.

To be clear, in a higher taxed state.

I got a refund.

Why should those who pay less get more?

Is it because you are a patron of the poor?

If so, what are your annual donations to charity?

 

Maybe he should pay a lot more.

Voluntarily, because I shouldn't live under the govt he deserves.

 

The people who are most angry about the loss of the state income tax deduction are probably the tax & spend politicians in high income tax states. they're now being very closely monitored by their wealthier residents, who are done sitting idly by while they propose tax hike after tax hike (that they can no longer foist on the federal income tax paying residents of other states.)

 

Yeah, you actually have to earn a salary in order to benefit. All I hear is "I'm not successful, and that makes me angry".