Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board

Go Back   Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board > Off Topic > Off Topic - General


Reply
 
Thread Tools Rate Thread
Old 02-07-2019, 11:07 PM   #1
sammy the sage
Registered User
 
Join Date: Jul 2003
Location: central fla.
Posts: 4,874
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-2ís 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.""

""Whatís the reason for this financial switcheroo? It stems from President Trumpís 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.""
__________________
got handed a lemon...make lemonade....add sugar or brown sugar or stevia or my personal favorite....miracle fruit....google it...thank me later...
sammy the sage is offline   Reply With Quote Reply
Old 02-07-2019, 11:47 PM   #2
garyscpa
Registered User
 
Join Date: Nov 2007
Location: Houston, TX
Posts: 1,441
Quote:
Originally Posted by sammy the sage View Post
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-2ís 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.""

""Whatís the reason for this financial switcheroo? It stems from President Trumpís 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!
garyscpa is online now   Reply With Quote Reply
Old 02-07-2019, 11:50 PM   #3
jocko699
American Patriot
 
jocko699's Avatar
 
Join Date: Jan 2017
Location: Cheyenne, Wy
Posts: 3,536
Total BS column. Continue searching for more fake news
__________________
ďVox Populi, Vox Dei"
jocko699 is offline   Reply With Quote Reply
Old 02-08-2019, 12:15 AM   #4
Clocker
Registered User
 
Join Date: Jul 2013
Posts: 17,095
Quote:
Originally Posted by jocko699 View Post
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.
__________________
A man's got to know his limitations. -- Dirty Harry
Clocker is offline   Reply With Quote Reply
Old 02-08-2019, 12:21 AM   #5
fast4522
Registered User
 
fast4522's Avatar
 
Join Date: May 2004
Location: New Hampshire
Posts: 12,311
Quote:
Originally Posted by Clocker View Post
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.
fast4522 is offline   Reply With Quote Reply
Old 02-08-2019, 12:37 AM   #6
Clocker
Registered User
 
Join Date: Jul 2013
Posts: 17,095
Quote:
Originally Posted by fast4522 View Post
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?
__________________
A man's got to know his limitations. -- Dirty Harry
Clocker is offline   Reply With Quote Reply
Old 02-08-2019, 12:45 AM   #7
fast4522
Registered User
 
fast4522's Avatar
 
Join Date: May 2004
Location: New Hampshire
Posts: 12,311
I think President will crawl inside her head and she will mess up.
So yes, he will run win and take back the house.

Attached Images
File Type: jpeg NP.jpeg (47.1 KB, 1 views)
fast4522 is offline   Reply With Quote Reply
Old 02-08-2019, 01:05 AM   #8
AndyC
Registered User
 
Join Date: Dec 2011
Posts: 4,076
Quote:
Originally Posted by sammy the sage View Post
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.
__________________
So many people these days are too judgemental. I can tell just by looking at them.
AndyC is offline   Reply With Quote Reply
Old 02-08-2019, 01:10 AM   #9
Clocker
Registered User
 
Join Date: Jul 2013
Posts: 17,095
Quote:
Originally Posted by fast4522 View Post
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.
__________________
A man's got to know his limitations. -- Dirty Harry
Clocker is offline   Reply With Quote Reply
Old 02-08-2019, 01:15 AM   #10
fast4522
Registered User
 
fast4522's Avatar
 
Join Date: May 2004
Location: New Hampshire
Posts: 12,311
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.
fast4522 is offline   Reply With Quote Reply
Old 02-08-2019, 01:20 AM   #11
ReplayRandall
Registered User
 
Join Date: Apr 2014
Posts: 10,175
Quote:
Originally Posted by AndyC View Post
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.
__________________
He who dares to not offend cannot be honest - Thomas Paine
ReplayRandall is offline   Reply With Quote Reply
Old 02-08-2019, 01:52 AM   #12
Clocker
Registered User
 
Join Date: Jul 2013
Posts: 17,095
Quote:
Originally Posted by fast4522 View Post
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?
__________________
A man's got to know his limitations. -- Dirty Harry
Clocker is offline   Reply With Quote Reply
Old 02-08-2019, 02:24 AM   #13
JustRalph
Just another Facist
 
JustRalph's Avatar
 
Join Date: Mar 2002
Location: Now in Houston
Posts: 50,239
Wow, I guess Tom is a big corporation......
__________________
LUKE 22:36
JustRalph is offline   Reply With Quote Reply
Old 02-08-2019, 04:00 AM   #14
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 81,030
Quote:
Originally Posted by sammy the sage View Post
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.
__________________
@paceadvantage | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 02-08-2019, 06:03 AM   #15
davew
Registered User
 
Join Date: May 2011
Posts: 20,033
Quote:
Originally Posted by Clocker View Post
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.
She might have forgot more than Trump ever knew, but what does she know now?
davew is online now   Reply With Quote Reply
Reply




Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

» Advertisement
Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 10:08 PM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2023, vBulletin Solutions, Inc.
Copyright 1999 - 2022 -- PaceAdvantage.Com -- All Rights Reserved
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program
designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.