Economy Tax Cuts come home. 25% less getting a refund.

Discussion in 'The War Room' started by MikeMcMann, Feb 11, 2019.

  1. Hognoxious

    Hognoxious But you can call me Johnny Mac

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    Most investment 1099's are just now being sent out. It is only the lower economic class filing this early. They don't pay taxes anyway.
     
  2. SBJJ

    SBJJ Gold Belt

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    Christ.

    How do posters like this survive?
     
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  3. Satsui Ryu

    Satsui Ryu Brown Belt

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    My sister was telling me her taxes were very different this year and not for the better. Nothing changed since last year to cause such a dramatic impact.

    Anectdotal I know, but that was the case.
     
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  4. SBJJ

    SBJJ Gold Belt

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    The lack of common sense by a great number of posters when it comes to how taxes work and are paid is downright disturbing
     
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  5. Seano

    Seano Hands of bone

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    Sounds like she wasn't middle class. Taxes went up for people making over like 200K per year.
     
  6. Seano

    Seano Hands of bone

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    To be fair, the upper tax brackets actually changed pretty dramatically, by like 100's of 1000's.
     
  7. nostradumbass

    nostradumbass Gold Belt

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    Doesn't sound like a lot of these people know how taxes work, or what the word refund means.
     
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  8. Falsedawn

    Falsedawn Mansa Platinum Member

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    Middle class people don't pay taxes?

    <Huh2>
     
  9. MikeMcMann

    MikeMcMann Gold Belt

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    The OP is year over year data. Comparisons of that are valuable regardless of what others are trying to pretend. Year over year comparisons are always valuable.

    ...Millions of Americans filling out their 2018 taxes will probably be surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds.
     
  10. Satsui Ryu

    Satsui Ryu Brown Belt

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    They hover in the vicinity of $200K if not just below. The only thing that stands as being a big change is their state taxes are no longer deductible. But even that did not explain the huge swing.
     
  11. Rational Poster

    Rational Poster Scourge of the War Room Banned

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    You should join a susu.
     
  12. PRIDEWASBETTER

    PRIDEWASBETTER United We Stand Staff Member Senior Moderator

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    I never have anything withheld on my paycheck and I'm getting a bigger refund this year. I don't make crazy money, though.
     
  13. Hognoxious

    Hognoxious But you can call me Johnny Mac

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    You sound poor.
     
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  14. SBJJ

    SBJJ Gold Belt

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    Exactly

    It's mind boggling people are still not understanding this.

    PEOPLE GETTING SMALLER REFUNDS PAID LESS TAXES THROUGHOUT THE YEAR!!
     
  15. Falsedawn

    Falsedawn Mansa Platinum Member

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    You sound retarded.
     
  16. MikeMcMann

    MikeMcMann Gold Belt

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    The impact on take home pay, which is directly related to people year over year tax returns and filings is very real.

    I do not know who is calling this a win other than the top percent earners.



    -----------------



    Here's what Trump's tax plan means for people at every income level from $20,000 to $269,000 a year

    The GOP has reached an agreement on their enormous tax overhaul.

    • Congress is expected to pass the new plan, as early as this week.


    Career site Zippia broke down how the final tax bill could affect take-home pay in 2018 for people in various occupations.

    Congressional Republicans are touting the new plan as a wage-boosting, job-creating boon to the middle class, as well as a means of simplifying the tax system. But the tax reform efforts have earned harsh criticisms from the public and experts. The conservative Tax Foundation found Republicans also overpromised on how much the bill would boost the economy, according to Business Insider.

    ----------------


    The GOP tax plan just got another brutal review


    • The Tax Policy Center released an analysis on Monday of the Tax Cuts and Jobs Act.
    • The report found that the bulk of the benefits from the GOP tax bill would go toward wealthier Americans.
    • The report also found that by 2027, 28% of Americans would see their taxes increase, relative to current law.
    The new analysis from the Urban Institute and Brookings Institution's Tax Policy Center found that by 2027,
    28% of Americans would see an increase in their tax burden due to the tax-code overhaul proposed in the bill.
     
  17. SBJJ

    SBJJ Gold Belt

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    Lol.

    Now TS is doing the taxes go up in 2027 schtick. Duh, some of the cuts were temporary.

    TS did not fucking understand that when you pay less taxes throughout the year your refund can be affected

    TS is literally one of the guys you see interviewed on the street on late night shows.
     
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  18. Supaboost

    Supaboost White Belt

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    People are dumb, gov should just take a extra magical 10% from their cheque and give it back at the end of the year and they would celebrate their "refund"

    Gov forced savings might be a way to go.
     
  19. MikeMcMann

    MikeMcMann Gold Belt

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    Again this is key.

    this is IRS data. this is for this year compared to last year. Very real changes in a year over year look. Very real loss of very real money in the pockets of average Americans.

    25% LESS people getting ANY money

    Of the 75% left

    They're getting nearly 10% less than last year !!

    More people than ever having to pay.
     
  20. PubliusVentidius

    PubliusVentidius Galore Bofando is the GOAT crew

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    Right wing populists always get the working class and the middle class to vote against their interests with a mix of empty nationalism, fear-mongering and xenophobia while they favour the upper class, it's nothing new and it happens in every country. This popped up on my twitter feed today and it's pretty illustrative:

     
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