Trump and the GOP Tax Plan Screwed Middle Class Parents Out of a Refund

nope

refunds are of course a good thing. everyones situation is different. Withholding the max is what works best for me and my family.

 

If "Total tax" line on your 1040 form for 2018 (line 15) is greater than it was for 2017 (line 44) - then you got a tax increase....Which in your situation and given the structure of tax reform is mathematically impossible, all the rest being equal.... Of course if your pre-tax deductions (healthcare, 401k, IRA etc) changed it can affect the outcome but it would have nothing to do with the tax code changes.

I know you don't, that's exactly what I expected. My BS call was correct, you can't explain the alleged increase of your tax burden because it is mathematically impossible.

PS call your accountant and ask if your tax liability increased and if it did, why or stay away from topics you have no idea about.

 

Exactly...

My state has reasonable taxes. But we have had free college tuition for serious students for 20 years. And free vocational college tuition grants for 25 years.

My property tax is also reasonable, but we have good local services and infrastructure.

The state that I grew up in is a total tax hell on earth.

The difference... My state is run by fiscally responsible Republicans. My old state is run by runaway tax and spend Democrats.


I'm getting a decent tax refund... It amounts to about 2K more than last year. California, Illinois and New York can pound sand. It is their own fault.

 

Lol at leftist propaganda.

 

So now your mad that high income earners are paying more? I'm so confused, I thought it's what you guys wanted? My taxes went up as well, I lost some writeoffs so I bought more equipment to 179 deduct. I helped the economy, I helped manufacturing by purchasing new equipment, I paid more taxes it's seems it would be your utopia.

 

So you lost roughly 10k in writeoffs? Your child tax credits doubled to 15k vs 7.5k? Is that due to state taxs exclusion?

 

Trump really nailed the "Tippee Toppers" with that SALT deduction limit. The Left is always claiming the Rich want to pay more, and now they are in an endless scream at a cap on a deduction enjoyed by the Richest percentages.

And poor Pelosi! Her notes from the speech located:

 

It truly is amazing, this Huffington post article named "tax plan screwed the middle class" "proves" their case by using the example of an NYC lawyer making at least $200k a year...And then they innocently wonder why people call them fake news.

 

I am always grateful when someone with actual expertise joins these topics to separate the fact from fiction!

 

Do you understand how taxes work? Your refund amount is meaningless, it's the total tax compared to last year. If less federal income tax was held out throughout the year, you'll get less of a refund. That doesn't mean you paid a higher tax.

 

And this dumb lawyer we are supposed to feel sorry for, was too dumb to check his withholdings, knowing he has been making off like a bandit all these years with the SALT deduction?

Seems like this has come back to bite Schumer at home!

 

Wait, so now leftists are bitching because people are paying too much taxes??

Which is it? Your stance changes every other week.

 

Sounds like you need to edumacate yourself.

 

Woah.

 

It's BS he lied and got caught.

 

There are only a handful of states that don't have significant property taxes.

 

Millions of working Americans are feeling this tax relief.

But we need to think about NY lawyers.

Won't somebody please think of democrat lawyers.

 

rahl does not appear to understand how taxes work, imo.

 

Its a very simple mindset.

If its good, Obama did it and republicans are evil.

If its bad, republicans did it and Obama/dems want to stop it.

 

This talk of refunds is meaningless. The question is did average people pay more Federal tax and I think the answer is generally no, they did not.

 

"High-income filers are much more likely to itemize and therefore more likely to take the SALT deduction. The higher your income, the more valuable tax deductions are to you in general because you’re taxed at a higher rate.

With the deduction for state and local taxes, the federal government is effectively subsidizing high earners in high-productivity states and cities. (Any deduction the federal government offers is a subsidy.) As you might expect, wealthy residents of wealthy states are most likely to pay state and local taxes. They also tend to have the highest average SALT deductions. According to the Tax Foundation, people with incomes over $100,000 receive more than 88% of SALT deduction benefits."

https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained

Poor "high-income filers", no longer able to be subsidized by the federal government via SALT deductions.

Why do liberals and progressives always love taxes as long as they only effect the other guy?

 

Trump loves screwing the middle class to make his rich buddies even richer.

Trump 101.

 

If they don't like it vote the money wasters out. In Cali we have a $100 billion dollar Jerry Brown's "Brown Streak High Speed Rail" Train to no where and Nearly $50 million in the California state budget will go to expanded legal services for immigrants. The LA Slimes could even bring them selves to call the undocumented immigrants let alone what they are, illegal aliens. State taxes for foolishness like that should land on the legislators who make crapola like that happen, not on the taxpayers of the entire country.

 

This must be why the middle class was in decline under high tax obama, and why so many dems in swing states became Trump voters.

Crumbs, dems called these tax cuts.

 

What mythical states are these? New Jersey was killed by a Republican Governor Christine Todd Whitman. And we have had good Republicans in the past (no, not Chris Christie).

BTW, I agree that refunds are meaningless, and they are misused by both sides.