No, I’m probably on the lower end of the income spectrum here. I have been unemployed since August so the total amount of taxes I will pay will go down.
Come on @buyinghouse, let’s get real. Does the $500 really do anything for you? Besides I thought you have many strategies to generate tax-free income. The total amount of taxes you pay shouldn’t be that big.
Is this another attack on the President for you? Okay, I’ll move on.
We did our taxes, we lost $500 compared to last year.
My tax guy has a bunch of people doing their taxes until they don’t see any light on the horizon because they not only lost deductions but they have to pay back. They never did.
I think the best basis of comparison without disclosing income is to answer the following questions:
How much tax did you pay as a percentage of AGI?
Of the taxes that you paid, what percentage was AMT?
Why not ask some states why they need so much local tax revenue to fund the same services that other states fund for far less? WA has similar state income tax, and it has local adders too. I pay 0.75% more than SCC. I pay the same 1% of home value in property taxes, and home values are much lower. There’s no income tax. What more are you getting from the state for all that state income tax you pay every year?
Why AGI but not the unadjusted gross? AGI already factors in the deduction you can make.
OK. Taxes as a % of unadjusted gross is perhaps a better measure. I’m just comparing apples to apples YoY. I have AGI handy but need to calculate unadjusted gross. Let’s see who is willing to put their percentages up on this forum to cut through all the noise…
I am going to apologize, but stop spinning. I don’t care what deductions, whatever you ask for. The fact remains, we in the middle class are screwed by this bunch of liars in the GOP.
The topic is about how Americans in general are finding out they got screwed. Big time. Those so called republicans, man! I laugh about them. They still support the party of lying. Tired yet?
So, stop deflecting, if you are going to argue anything, please, go paint a room if you are not talking about the lie "You will be able to buy a brand new car or remodeling your kitchen" BS!
“”""This was what happened to Jason Marques, a postal worker, pizza delivery driver and student in Massachusetts who said that, since his income didn’t change, he was expecting a similar refund to the roughly $6,000 he got last year — money he said would go towards his student loans or paying off credit card debt.
Marques said he was hurt by the cap on student loan interest deduction and the elimination of non-reimbursed business expenses, which he used to deduct the out-of-pocket costs he incurred as a delivery driver. “My jaw hit the floor,” he said, when he learned his 2018 refund would be under $500.""""
"If I were to estimate, two-thirds will pay more than they thought and one-third will get more than they thought,” said one tax preparer.
House Minority Leader Nancy Pelosi claimed that the Republican tax cut plan “raises taxes on [the] middle class,” while President Donald Trump claimed that “everybody’s gonna benefit” from a plan that “is for the middle class.”
House Minority Leader Nancy Pelosi claimed that the Republican tax cut plan "raises taxes on middle class," while President Donald Trump claimed that "everybody’s gonna benefit" from a plan that "is for the middle class."
“ @realDonaldTrump just did my taxes and thanks for increasing mine!! No change in income and got back $400 less than last year. That campaign promise was one of the only two reasons I voted for you. Rethinking that decision now.
This is the ignorance of most people. They only compare their refund vs prior year not total taxes paid. With that kind of financial illiteracy, there will never be an intelligent national discussion. People will just memorize and repeat talking points that make them emotionally respond.
I paid quite a bit less as a percent of income, but buying a new primary home helped that. I’ll pay even less for this year with a full year of deductions.
Didn’t I tell you the pro Trumpers are the worst? There are millions of people tasting the sour Kool Aid from the republicans. Economists said, do not trust the tax cuts, they are favorable 99% for the corporations and rich people. The CBO was against it, even billionaires said it, we don’t need them, but we’ll take them.
These “wallnuts” as they are called, are so dumb down to not read into the lying hurting even republicans, who by the way won’t be voting that way anymore.
The liar in the GOP told the American people that not only their tax returns would be the size of a postcard, but they would be able to buy a brand new car or remodel their kitchen. How stupid could you be to fall for such a giant lie, right?
Meanwhile, they changed the tax code to eliminate the money you would get to buy that brand new car or pay for that wonderful kitchen remodel. 1099 people also lost some deductions.
This is the wealth distribution these commies from the GOP so much criticized.
They moved people’s money to pay for the richest people tax cuts while bankrupting the country with a deficit of $1T a year.
So much for conservativism, right? Spending money like drunken sailors with our taxpayer’s money.
“”""It’s February which means it’s officially everyone’s favorite time of year: tax season! And while most of us will be putting off tracking down our W-2’s until early April, some people have already managed to file their taxes. And among those early birds, many in the middle class have been shocked to find that instead of the nice little chunk of change they were expecting with their return, they actually owe money to Uncle Sam.
What’s the reason for this financial switcheroo? It stems from President Trump’s tax reform, which was passed in 2017 and was touted by Trump and the GOP as a win for the middle class. However, with the new tax system now in place, Americans are discovering that most of the tax relief from the bill is actually being experienced by corporations.
Unsurprisingly, people have not been happy to discover that what they expected to be a decrease in taxes paid is actually an increase. Those who had been supporters of Trump are especially infuriated, as many were under the assumption that he would provide financial relief for middle-class families, something that he consistently promised during his Presidential campaign. Many have even taken their anger online, with #GOPTaxSCAMStories trending on Twitter as more and more members of the middle-class express their feelings of betrayal towards Trump and Republicans.
@realDonaldTrump I trusted and voted for you, now, screwed by you. I fall JUST above a tax bracket, I don’t get the 5000 return I’ve gotten the last 3 years. Money my family depends on to start us over. I served my country honorably. I will not make the same mistake twice.
@POTUS thank you for screwing the middle class with your tax reform. I have never in my life, I’m 49 years old, had to pay into the IRS until this year. We have a combined income of 150,000. The middle class voted for you. I will not make the same mistake twice.
Folks need to stop making fun of the middle class republicans who are only now finding out en masse that their taxes are going up. It’s hard for people to discount bald-faced lies when they are based on statistical manipulation. We need to be angry alongside them. This was wrong.
Corporations got the big tax break. High tax state individual taxpayers got screwed…Corporations need to show through higher employment the benefits of a lower corporate tax or the Dems will gain power in 2020 and change the tax laws…
High tax state individuals only got screwed if they were high income or high mortgage debt or both. Otherwise they made out better with a higher standard deduction. Dems talked forever about making the rich pay their fair share; Trump actually did it.
In any event, as the last election showed, there aren’t enough high tax states to carry the Dems. And even if the percentages of Rep/Dem voters shifts in those places it’s irrelevant. Electoral votes are awarded winner-take-all. California gives the Dem candidate 55 electoral votes whether 51% vote Dem or 100% vote Dem.