Trump tax cut turns out to be another Trump lie

Don’t fall over . . .

I agree 100% again

@dantes the part of what I support I doubt you would. Single tax rate that applies to ALL taxpayers. An and on my deduction, that would be the only deduction allowed, and no tax credits.

I’d have a hard time getting behind such a punitive measure against the poor.

Graduated tax rates are pretty important to presenting massive burdens on those least capable of enduring them.

I disagree. Just because you work hard, are successful you SHOULDN’T be punished with a higher rate.

Of course it is all arbitrary. Taxes don’t exist in nature. They are totally arbitrary man made creatures. Volumes and volumes of codes and regulations are all the results of thousands of special interests pushing for what they want.

I love how you guys quote all these sources about ‘may not get a tax refund’, or ‘may get hit with a surprise tax bill’.

How about asking people who have actually filed taxes as to how it’s working for them instead of letting Vox guess for you.

I’ve already filed. I actually made like $2,000 more this year than last year. My returns only saw a decrease of $100…and I can attribute this to $700 I got paid for jury duty (they don’t tax it at the time the give you the jury duty pay, go figure).

Looking further into the numbers, yeah I got a whopping tax increase of -$400. Damn you Trump for actually raising my taxes like that. :rofl:

For me, it was all a wash. I lost the personal exemptions, so my taxable income is more. I have more charitable and other itemized deductions than the 24K standard deduction, so that change meant nothing to my bottom line.

More taxable income. Lower tax rate. End result is the same 7.5% effective tax rate on my gross income.

My adult kids saw a lower effective tax rate since they did the standard deduction before, and larger standard deduction worked out in their favor. Lower tax rates were icing on the cake.

I read that, too. So in essence, if they had changed their witholdings as they should have done, they would have ended up with a net 0 sum. No ‘tax cut’ for anybody. Except the rich and DougBH apparently.

First of all, your amount of witholding might have to do with whether you get a refund or not at the end of the year but it has zero to do with your tax rate.

And then, from the op article:

**“Most Americans got a tax cut** thanks to the new Republican tax law, but it’s possible that millions of households will get a surprise bill from the IRS in the coming weeks.”

So I’m lost here. Before the tax reform you could either claim the standard deduction or itemize. That would be for you and the wife. That didn’t change. Then you get to the kids of you have them. No longer a off your income, but now it’s off your tax due.

So are you saying you lost more exemptions that you and the wife (and you wouldn’t have had those anyway if you were itemizing before)?

You pay in less you get a smaller return. Not exactly news.

Are you thanking Trump for burdening your grandkids with another trillion dollars (and counting) of debt. When Obama waa president, that’s all i heard about from cons like you, Hannity, et. al,

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You can fault people for not adjusting their pay withholding. However, many use their tax refund as an extra paycheck or bonus. This year it looks like it will be less.

The contempt you hold for wide (and broad-brushed) swaths of fellow Americans is unfortunate . . . and yet (generic) you refer to them as “elitists”.

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Yep mine was like yours.

I have a question. I was going to try and figure out what I get back and I see two different numbers to start with. My check reads…

Total Gross
79,616.24

But right next to it is…
Fed. Taxable Gross
69,857.58

Am I using the lower number before deductions? Why are there two different numbers?

CNN is actually pretending that it is the amount of tax refund that has some significance instead of the actual taxes a person pays on their income?
How embarrassing.
How CNN.

look on your pay stub. Do you have items that come out pre tax?

Example: I don’t know what the legal name for it is, but I have a flex account on my health insurance. Each year $1,000 is taken from my paychecks before taxes and put in an account to use toward co-pay and deductibles.

That 1k a year is not counted in my Federal Taxable income before my standard deduction.

No like all other middle income workers, i have paid more than my share of the rax burden.

It does. If a person didn’t change their paycheck withholding and expected the same or more of a refund it makes a difference.