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

[kpt018]

Yeah, but answer the question

Can't tell if serious so I'll just say that I thought the TCJA was horrible policy because it's massively unfair and a waste of resources. The policy is poised to add at least $2T to the deficit to essentially give large corporations and high income earners a tax cut. It's just trash policy and indicative of the entire mission of the GOP which is upward redistribution of wealth.

Short answer: my criticism is not about punishing or rewarding success but about unfair tax policy that disproportionately helps the wealthy at the expense of lower and middle income earners.

 

[SBJJ]

No one cares that the middle class is paying more in taxes and the millionaires are getting all the tax breaks. Not surprising, but I'd thought that there were at least some principle voters out there. Laughable how easy it is to get people voting against their own interests.

How do you survive in the real world when you are so easily duped by things?

How can you after reading this thread STILL not understand how taxes work? Are you able to cross the street on your own? Do your parents let you play outside alone?

 

[*Z*]

less money withheld = smaller refund. It's that simple. Either way it's not really a tax break, at least not in my world.

 

[Revolver]

Who ever changed the tax return forms should get shot. Lets change the 1040 from two pages to some stupid postcard shit and add a bunch of additional schedules.

 

[djacobox372]

So there's less free-loans to the government due to a previously overly complex tax structure?

And this is bad why?

 

[west42]

Something something Trump, something the 1%, something something refunds.

So there's less free-loans to the government due to a previously overly complex tax structure?

And this is bad why?

 

[Juventud]

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

It's actually gone to 17%. It's probably even thread worthy but the thread title should be changed, but it's definitely big news.

Even if wages went up slightly for some, taxes are down and there's clips of GOP saying their taxes wouldn't change. Easy to run campaign ads.

Average tax refund down 17 percent, IRS reports
https://www.politico.com/story/2019/02/22/irs-tax-refunds-2019-1207283

The average tax refund issued so far this year is down by 17 percent, the IRS said.

The agency released data late Friday showing refunds are down for the third consecutive week, with the typical payment made through Feb. 15 totaling $2,703, compared to $3,256 during the same period last year.

 

[Pride23]

I thought that tax refunds were less because people received more money each pay check through out the year. Tax refunds are less but people made more money overall than prior years so they indeed got a tax break. If that is wrong someone correct me. I am not sure why people keep pushing this other agenda. This is coming from someone whom thinks that the tax reform for businesses were not done well and that there should be some tweaks to how the brackets were set up for the average joe filing but lets not try and twist something that did indeed happen that was promised.

 

[Scheme]

It's actually gone to 17%. It's probably even thread worthy but the thread title should be changed, but it's definitely big news.

Even if wages went up slightly for some, taxes are down and there's clips of GOP saying their taxes wouldn't change. Easy to run campaign ads.

There are less refunds because people paid less in taxes on each paycheck.

 

[Stoic1]

I was like YAY! Then I was like OH. Then I was like MEH.

Then I filed.

Then I was like....OH EXACTLY THE SAME.

 

[Seano]

No one seems to be reporting that lower middle class working people with kids , the people the tax break was intended to help, are doing well.

Its only people making over 200k that are seeing the negative. The new brackets haven't been so good for people making over 200k.

 

[D3thr0n3d K1ng]

There are less refunds because people paid less in taxes on each paycheck.

No there are less refunds and more owing because Trump increased taxes on the lower brackets. People aren't claiming any thing different.

 

[Ice That Jaw]

less money withheld = smaller refund. It's that simple. Either way it's not really a tax break, at least not in my world.

Yes, but there are refunds that you get outside of your paycheck like child credits and mortgage interest. But yes, it's probably better in many ways to reduce your refund as much as possible so you actually have more money available throughout the year.

Big ass refunds that look great to some people are really just an admittance by the IRS that someone done fucked up.

 

[Strychnine]

click the first link. the data is from the IRS.

25% less people will get any refund and of the 75% remaining they will, on average get nearly 10% less than last year.

The super rich however got a pretty huge boon from the tax cuts. All of the loopholes focused on in his 'promise to close tax loopholes' were the ones typical middle class families typically use the most.

Timestamped, but watch the whole thing if you can. It's only 6 minutes.

If you're a Cop, you can't write off your uniforms, holsters, etc. anymore also. But look at the good news! If you bought a private jet, you can write it off 100%!

 

[hillelslovak87]

Driving home today I listened to some Progress on SiriusXM. Liberal callers from Connecticut, New York, New Jersey all calling in with the same complaint. Their $6K(!!!) refund from last year gone this year. No doubt a large part of this due to no longer being able to deduct state and local taxes.

Fuck em and all blue state pukes. The host, Michael Signorelli, was telling callers how they got to talk to their Trump supporting friends in these states and get them to change their vote. I was think “you retard, like anyone in CT, NY, NJ supports Trump or enough to swing the state red anyways!”

They need to vote out their local Democrats who saddle them with a high tax bill.

But if they weren't taxed so high, there would be no taxes for red states to suck up, after yet another year of state GOP legislatures running their state finances into the ground.

 

[PHATV]

Driving home today I listened to some Progress on SiriusXM. Liberal callers from Connecticut, New York, New Jersey all calling in with the same complaint. Their $6K(!!!) refund from last year gone this year. No doubt a large part of this due to no longer being able to deduct state and local taxes.

Fuck em and all blue state pukes. The host, Michael Signorelli, was telling callers how they got to talk to their Trump supporting friends in these states and get them to change their vote. I was think “you retard, like anyone in CT, NY, NJ supports Trump or enough to swing the state red anyways!”

They need to vote out their local Democrats who saddle them with a high tax bill.

Many people don't understand this. A lot of these issues are where the feds are no longer allowing outrageously high state taxes to be deducted---these states you mention along with CA, IL, and others. Who cares? lol

Frankly, it's LONG overdue.

 

[MASShole]

Timestamped, but watch the whole thing if you can. It's only 6 minutes.

If you're a Cop, you can't write off your uniforms, holsters, etc. anymore also. But look at the good news! If you bought a private jet, you can write it off 100%!

I work from home and can't deduct any home office expenses anymore because I'm a W-2 employee (HQ is in San Diego, I'm in CO. My wife did some part time 1099 work, so she can write it off though. So absurd.

 

[Strychnine]

I work from home and can't deduct any home office expenses anymore because I'm a W-2 employee (HQ is in San Diego, I'm in CO. My wife didn't some part time 1099 work, so she can write it off though. So absurd.

Make Billionaires Great Again.

 

[D3thr0n3d K1ng]

The party of low taxes just raised taxes on almost everyone.

 

[Andy Capp]

I am seeing articles and folks online present it that way though. I'm seeing articles with headlines like "man gets a much smaller refund than previous year and is pissed he got screwed by the TCJA".

so, what I really want to see is a study of actual amount paid-in year over year.