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| sammy the sage |
02-07-2019 10:07 PM |
The so called tax breaks...Touted by Trump & republicans...eerrrrr
and many here....no so fast...especially for THE disappearing middle class...of WHOM many will be paying MORE this tax season...those votes will matter down the road...
https://www.yahoo.com/lifestyle/midd...211032057.html
From the article...
""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.
Meanwhile, many people are seeing an increase in taxes due to the bill eliminating many of the deductions that were used by middle-class families in order to lower the amount of taxes they were required to pay. Most notably, the tax reform placed a cap on deductions for taxes on both state and local levels."" |
| garyscpa |
02-07-2019 10:47 PM |
Quote:
Originally Posted by sammy the sage
(Post 2428746)
and many here....no so fast...especially for THE disappearing middle class...of WHOM many will be paying MORE this tax season...those votes will matter down the road...
https://www.yahoo.com/lifestyle/midd...211032057.html
From the article...
""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.
Meanwhile, many people are seeing an increase in taxes due to the bill eliminating many of the deductions that were used by middle-class families in order to lower the amount ofF taxes they were required to pay. Most notably, the tax reform placed a cap on deductions for taxes on both state and local levels.""
|
Waah! It's just not fair! :bang: |
| jocko699 |
02-07-2019 10:50 PM |
Total BS column. Continue searching for more fake news
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| Clocker |
02-07-2019 11:15 PM |
Quote:
Originally Posted by jocko699
(Post 2428758)
Total BS column. Continue searching for more fake news
|
Trump complained when he signed the bill that it didn't do much for the middle class. As it got close to the November elections, he promised another quick tax cut bill aimed at helping the middle class, but nothing ever came of it. Now it's too late. |
| fast4522 |
02-07-2019 11:21 PM |
Quote:
Originally Posted by Clocker
(Post 2428767)
Trump complained when he signed the bill that it didn't do much for the middle class. As it got close to the November elections, he promised another quick tax cut bill aimed at helping the middle class, but nothing ever came of it. Now it's too late.
|
No, but it might have to wait until after the 2020 election. The middle class is the liberals cash cow. The poor can't pay, after all the feel good talk they still won't go after the people who write them the big checks, so reality is the middle class if they want to fund an agenda. |
| Clocker |
02-07-2019 11:37 PM |
Quote:
Originally Posted by fast4522
(Post 2428769)
No, but it might have to wait until after the 2020 election.
|
So you think Trump will run again and win in 2020, and the GOP will take back the House? :popcorn: |
| fast4522 |
02-07-2019 11:45 PM |
1 Attachment(s)
I think President will crawl inside her head and she will mess up.
So yes, he will run win and take back the house.
|
| AndyC |
02-08-2019 12:05 AM |
Quote:
Originally Posted by sammy the sage
(Post 2428746)
and many here....no so fast...especially for THE disappearing middle class...of WHOM many will be paying MORE this tax season...those votes will matter down the road..."
|
Down in the comment section a Michael K. Richards claims that his taxes, with the same income and same withholding went up $5,848. He had an income of $83,085. Doing the tax calculation using a standard deduction he would have save $2,332. But he obviously didn't use the standard deduction. By my calculations he would of had to have $32,720 of deductions in 2017 that were disallowed in 2018. I could see if he had an expensive house that he might of had 3-4000 of SALT deductions that might have been lost but where would the remaining $28,000+ be lost? Clearly he has no idea about taxes whatsoever.
My guess is that for people who received or will receive a smaller refund or in some cases have to pay it will be a result of significantly less withholding. They have already received their tax cuts through higher take home pay throughout the year. |
| Clocker |
02-08-2019 12:10 AM |
Quote:
Originally Posted by fast4522
(Post 2428774)
I think President will crawl inside her head and she will mess up.
So yes, he will run win and take back the house.
|
Pelosi may know little about real world economics, perhaps even less than Trump, but she is light years ahead of him when it comes to political processes and manipulation.
P.S. Don't put any money you can't afford to lose on your election forecasts. :p |
| fast4522 |
02-08-2019 12:15 AM |
Look Clocker, your an economics major but that old lady has seen better days. President Donald J. Trump will make her Speakership very painful for her. Say what you will but nothing is going to stop her destruction, it will be his crowning achievement.
|
| ReplayRandall |
02-08-2019 12:20 AM |
Quote:
Originally Posted by AndyC
(Post 2428780)
My guess is that for people who received or will receive a smaller refund or in some cases have to pay it will be a result of significantly less withholding. They have already received their tax cuts through higher take home pay throughout the year.
|
^^^^
THIS....is what truth looks like...+Points. |
| Clocker |
02-08-2019 12:52 AM |
Quote:
Originally Posted by fast4522
(Post 2428784)
President Donald J. Trump will make her Speakership very painful for her.
|
How? He wants bills passed and she says no. What can he do to her? Call her names? Send nasty tweets? :popcorn: |
| JustRalph |
02-08-2019 01:24 AM |
Wow, I guess Tom is a big corporation......
|
| PaceAdvantage |
02-08-2019 03:00 AM |
Quote:
Originally Posted by sammy the sage
(Post 2428746)
and many here....no so fast...especially for THE disappearing middle class...of WHOM many will be paying MORE this tax season...those votes will matter down the road...
https://www.yahoo.com/lifestyle/midd...211032057.html
From the article...
""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.
Meanwhile, many people are seeing an increase in taxes due to the bill eliminating many of the deductions that were used by middle-class families in order to lower the amount of taxes they were required to pay. Most notably, the tax reform placed a cap on deductions for taxes on both state and local levels.""
|
God, you TOTALLY obsess on me even more than I obsess on ely. |
| davew |
02-08-2019 05:03 AM |
Quote:
Originally Posted by Clocker
(Post 2428782)
Pelosi may know little about real world economics, perhaps even less than Trump, but she is light years ahead of him when it comes to political processes and manipulation.
P.S. Don't put any money you can't afford to lose on your election forecasts. :p
|
She might have forgot more than Trump ever knew, but what does she know now? |
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