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Shrinking Tax Refunds Cast a Shadow on Trump’s Signature Law

j-mac

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Ok, couple of things here...

1st. - I don't see from my personal experience (a $2000 shift) in my tax exposure this year over last, where Mnuchin can claim that it is consistent with last year..

2nd. - I don't blame this totally on Trump's policy, although I do think that by seperating the vision into two separate paths of attack, first being to lower Corporate, and business taxes spurring economic growth, and that part of it worked wonderfully. However, there was supposed to be a second path of then lowering the rates for the individuals, middle, and lower incomes so that they didn't get pinched by getting the $20 - $40 per week that showed up in their pay in 2018.

This was a result of not only those in the Republican resistance ranks teaming up with Democrats refusing to give Trump any victory, but denying those in the lower, and middle income brackets relief in their tax exposure...It was a cynical move politically motivated to ensure that Democrats could use this years shock in their taxes in 2020, and shame on those Republican's that are putting status quo over what is good for the people....

thoughts?
 
Pretty simple. When you change the tax brackets and give more back on payday then you are not going to get as large a return on tax day. Some people don't seem to understand simple fiscal policy.
 
Integrityrespec said:
Pretty simple. When you change the tax brackets and give more back on payday then you are not going to get as large a return on tax day. Some people don't seem to understand simple fiscal policy.
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Well, no doubt, however there was another element to it....Had the Republican's remained strong and succeeded in passing the 2nd phase of the tax cuts, then the hit experienced by people like me would have been minimized....That was calculated, and the blame belongs on Congress, not Trump.
 
You get less refund because your checks were higher during the year.

Liberal math skills, lol.
 

Obama had the wonderful growth, without giving the huge tax break to corporations and the richest Americans.

However, there was supposed to be a second path of then lowering the rates for the individuals, middle, and lower incomes so that they didn't get pinched by getting the $20 - $40 per week that showed up in their pay in 2018.
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Your crumbs were even less than you expected?


LOL, nothing like blaming someone else. Trump got his huge tax break, so he's happy. But you apparently think he actually gives two ****s about you. Didn't you follow what happened with Trump University?

Please show me where he kept the pressure on Congress and the Senate to lower taxes for his base. Because I'm pretty sure he didn't. Because his history tells us he's just conning you, quit being gullible.
 
Hilarious. Trump gives a massive tax cut to the 1% and his followers can't figure out why it didn't help them.
 
Verax said:
Hilarious. Trump gives a massive tax cut to the 1% and his followers can't figure out why it didn't help them.
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No ****. And they likely paid for the crumbs they were given through the tariffs.

And they blame Dems. Funny, I don't remember Trump fighting hard for tax cuts for his base, do you?
 
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As far as I know it was 100% the IRS, not any politicians, who were responsible for adjusted withholding tables.
 

Two points:

1. Tax refunds are a useless...and dishonest...parameter with which to judge whether the tax reform is good or bad, since the tax refund is determined by the taxpayer's own decisions...or lack of making a decision.

2. Trump got part of what he wanted, but he had to take what you speak of in your last paragraph. The upshot is this: The Congressional Elites...both Dem and Rep...were thinking ahead about how they could use this tax reform against Trump politically. Trump was thinking ahead about how the tax reform would help the American people financially. Therein lies the difference between Trump and Congress.
 
JustHanging said:
Obama had the wonderful growth, without giving the huge tax break to corporations and the richest Americans.
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Wonderful growth? Are you kidding? You liked driving around your city, seeing shuttered businesses, closed strip malls, and feeling peoples blah attitude over the economy then telling them that it was "the new norm"? Were you blind?

Your crumbs were even less than you expected?
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No, as I have pointed out before, I think that the $40 per week increase I saw was appreciated, and allowed me to take the wife out on Friday nights, for dinner and drinks..Thus me putting money back into local business, spurring greater supports for local employment...A win win....And, I take responsibility for not adjusting my withholding to compensate for stage 2 of the policy plan NOT being implemented...In the end, I know people who experienced much worse than I did, going from a $400 refund, to a $1,600 payment....I can afford it, but I know those who can't and Democrats, and establishment Republican's that blocked that phase are responsible for their hardships not Trump.

LOL, nothing like blaming someone else. Trump got his huge tax break, so he's happy. But you apparently think he actually gives two ****s about you. Didn't you follow what happened with Trump University?
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:roll: whatever...That's just your hate showing.

Please show me where he kept the pressure on Congress and the Senate to lower taxes for his base. Because I'm pretty sure he didn't. Because his history tells us he's just conning you,
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You misread me...I am saying that he DID'NT keep pressure on Congress, and that allowed this to happen....Wouldn't it have been much better for the people if Congress worked with him on things like this rather than knee jerk opposition?

quit being gullible.
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You know...On the street, in real life, someone says that to me, I'd tell them to **** off! But, in here I can only SMH.
 

Easy people have no friggen clue how taxes work.
the only way to see if you paid in less taxes is to compare
your tax liability for last year to this year.

in general everyone is paying less tax.

if those people had more allowances than they were supposed to and
attempted to itemize instead of taking the standard deduction then they
were not going to fair as well.

some people had too many allowances and didn't pay enough or paid less
than what they paid prior.
 

Nope...Not my experience...As a truck driver I was able last year to write off per diem of around $14K. Lost that...plus lost my mortgage interest deduction....Like I said, apples to apples I had a $2000 swing with all things being very close to equal, and nothing changing from last year to this....
 
j-mac said:
Wonderful growth? Are you kidding?
You liked driving around your city, seeing shuttered businesses, closed strip malls, and feeling peoples blah attitude over the economy then telling them that it was "the new norm"? Were you blind?
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No, I base my beliefs on facts, not on what Trump and others tell me what to think. I know, I know, how crazy not to believe Trump as if he is a messiah, amirite?

Obama took over amid one of the biggest economic crisis in decades, and turned it around, and gave steady continued economic growth. Your personal stories are meaningless, the data is out there, check it out. Unfortunately you suffer from TDS, so not much I can do if you won't accept reality.


And you paid a bunch in tariffs.

And your children will have to pay for the huge tax cuts Trump gave the wealthiest Americans. But for Trump's base, it's screw our children, party now now now!!!

And they'll also have to pay for the environmental regulations that were cut, for not only the clean up, but also for increased rates of cancer, birth defects, and other diseases and maladies caused by increased pollution. But again, for the Trump base it's screw our children!!! Party now now now!!!!

How sad and pathetic that Trump's base would cheer on and defend doing that to their own children. Oh well, they are "the base", I don't think anyone around the world really expected anything more from them. That's why they are laughing stocks the world over.

:roll: whatever...That's just your hate showing.
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That's quite the case of TDS, Trump Defense Syndrome, the Trump base has. I've learned reality can't overcome it, so I'll leave the base to watch their grandchildren get cancer, and go deeper in debt. But the base can enjoy an extra $40/week now so who cares, amirite? I'm sure their grandchildren will thank them.


And finally, when something is important to Trump, he fights for it. Look at the wall. How much did he fight for big tax cuts for the middle class? Do you know what he thinks of his base? He thinks they're gullible racist fools:

Donald Trump declares 'I love the poorly educated'

Trump’s Midterm Closing Argument: Pure Racial Fear


The sad part is his base seems to be working overtime to prove him correct. Why do you they do that?
 
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If you are an independent contractor then you can still take off those business expenses.

You didn't really lose it why would you not take 15 or 24k over 14k.
 
Erod said:
You get less refund because your checks were higher during the year.

Liberal math skills, lol.
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You need to understand that there are people who saw their total taxes paid actually go up. It's not just about the refunds.
 
Verax said:
Hilarious. Trump gives a massive tax cut to the 1% and his followers can't figure out why it didn't help them.
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It helped my just fine.
 
ludin said:
If you are an independent contractor then you can still take off those business expenses.

You didn't really lose it why would you not take 15 or 24k over 14k.
Click to expand...

It's not like that ludin...Last year with around the same household income, I was able to write off my mortgage interest, along with my OTR per diem....This year NONE of that is eligible....I know of many in my circumstance...I don't have a bunch of investments, I am not independent....Just a simple middle class guy, working for a company, and now have seen my little write off's disappear....

Now, as I said, it's my fault that I didn't adjust my withholding, however, that has been remedied, and won't happen again.. I can get together my share of tax, I know many who will struggle with this reality, and will most likely place blame in the wrong place.
 
Re: Shrinking Tax Refunds Cast a Shadow on Trumpâ€[emoji769]s Signature Law

Lol@poor right wing people who didn't benefit from Trump's tax cuts.

What did y'all think? He did this for you? No goofies, he did it for people like me.

So long broke boys.

Sent from Trump Plaza's basement using Putin's MacBook.
 

What did you pay in taxes last year compared to this year.
and no you didn't lose your mortgage deduction.

Taxpayers can deduct the interest paid on first and second mortgages up to $1,000,000 in mortgage debt.

so no you weren't able to deduction your per diem.
i wish people would not spread misinformation as to what they
were saying.

The question is are you paying less taxes this year than last year.

which would be your net tax due no how much you get back in a refund.
 
Re: Shrinking Tax Refunds Cast a Shadow on Trumpâ€[emoji769]s Signature Law

Hatuey said:
Lol@poor right wing people who didn't benefit from Trump's tax cuts.

What did y'all think? He did this for you? No goofies, he did it for people like me.

So long broke boys.

Sent from Trump Plaza's basement using Putin's MacBook.
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you once again prove you don't know what you are talking about.

i am paying less taxes than i paid last year. so yes i did very well.
thanks trump.
 
Re: Shrinking Tax Refunds Cast a Shadow on Trumpâ€[emoji769]s Signature Law

ludin said:
you once again prove you don't know what you are talking about.

i am paying less taxes than i paid last year. so yes i did very well.
thanks trump.
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Ludin logic: I did well so that refutes what you had to say.

Also Ludin logic: I belong to a jury of peers for felony crimes Hillary Clinton has not been convicted of.

Lol, ludin is still pretending I take anything he has to say with any sort pause.

Sent from Trump Plaza's basement using Putin's MacBook.
 
Moderate Right said:
As far as I know it was 100% the IRS, not any politicians, who were responsible for adjusted withholding tables.
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Not exactly. The tax withholding tables were juiced to give people a sense of a bigger tax cut than they actually received. It was "front-ended" to help with the 2016 election. It was an intentional "bait and switch" on the part of the administration.

Here's why the average tax refund check is down 16% from last year

The IRS’ election-year quandary: When to boost Americans’ paychecks - POLITICO

Your 2018 tax cut has kicked in, but pay attention to withholding - SFChronicle.com

IRS rolls out new tax withholding tables to align paychecks with tax law - POLITICO
 
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Re: Shrinking Tax Refunds Cast a Shadow on Trumpâ€[emoji769]s Signature Law

Hatuey said:
Ludin logic: I did well so that refutes what you had to say.
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the only line that actually deals with the topic.
Yep it did.

to determine if you received a tax cut you don't look at your refund.
you look at what you paid in taxes the year before to what you paid this year.

so yes it does refute what you said.
 
Re: Shrinking Tax Refunds Cast a Shadow on Trumpâ€[emoji769]s Signature Law

ludin said:
the only line that actually deals with the topic.
Yep it did.
Click to expand...

How does you doing well refute the fact that there are millions of right winters who won't see a benefit from Trump's tax cuts?

Don't worry, I want you to double down.

Jury of peers moment for you, ludin.

Sent from Trump Plaza's basement using Putin's MacBook.
 

no tax witholding tables have nothing to do with tax cuts.
they have to do with how much is with held from your check during the year.

If you did not account for that then you might not put enough money in.
It has nothing to do with tax cuts.

whether or not you received a tax cut is how much your tax liability was the year before vs
what it is now.

if you didn't account for how much with holding you had then you could end up paying or not getting
as big of a refund, but that doesn't mean you are paying more in taxes.
 
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