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Hmmm Correct.
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Doesn’t change the fact that our State taxes went up by 1,126% (yes I calculated it, over 11 thousand percent) wiping out a big chuck of the “tax cut”.
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So you’re saying that Trump’s tax plan was deeply flawed, because it exploded the deficit by not raising taxes on the lower class to pay for its tax cuts on the rich and corporations?
Because the top 20% doesnt pay ■■■■ for wages. Strange how the GOP complains about being over taxed, then complains about the common man not being taxed enough.
Trump and the Republicans are going to lose a whole bunch of their voters because of their tax “reform.”
They knew a lot of people were going to be extremely unhappy when they go to file their income tax. That’s why it didn’t go into effect immediately for 2017. They didn’t want the voters pissed before the midterms.
But a lot of people knew what the outcome would be and that’s why the only legislation they passed in two years wasn’t touted by R’s or Donald in campaigns in the run up to the midterms elections.
Their signature legislation and they couidn’t run on it.
Most people, especially “the forgotten man” doesn’t know and doesn’t care what their effective tax rate is.
They only know last year they got a refund when they filed and this year they are going to owe. They thought the extra bump in the paycheck they could spend. Now they have to come up with a lot of cash to pay the IRS and/or that refund check they were relying on they aren’t going to get or is way less then they got last year.
@WorldWatcher post is pretty clear. Federal taxes have been historically used in some cases to offset state taxes. In the end, taxes are taxes at the end of the year. Whatever name you sign on the check, its still money going out to government.
My H’s paycheck went up $200 per pay period in January 2018. Of course, that was before he changed his witholding so that an extra $500 was taken out each pay period. It would have been a wee bit less if the new withholding calculator was out before mid February 2018.
No, because we understood the ramifications of the tax reform and changed the witholdings.
If we were dumb and didn’t understand we needed to do that, probably would be pissed. There are going to be a lot of Trump supporters who didn’t change their witholdings. Do you think they are going to be mad? I do.
Trump mainly got elected by razor thin margins in the midwest. A sort of blue collar manufacturing promise about jobs. Im not convinced their lives have significantly improved by the tax reform. So the novelty of Trump is probably long gone. Democrats would be wise to pay attention to who does well in the midwest during the primaries. Not ignore it like they did Bernie