CDZ How Did the Tax Reform work for you?

[Wry Catcher]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

 

[initforme]

I paid in slightly more....according to my tax prep person. $400 more isn't a huge deal though.

 

[Wry Catcher]

I paid in slightly more....according to my tax prep person. $400 more isn't a huge deal though.

In perspective, it is a huge deal sense billion dollar corporations paid $0.

 

[Billy_Kinetta]

I pay estimated tax quarterly. Pretty much hit it on the nose.

 

[Likkmee]

Got no idea. I don't live there so I can earn 80 grand/year and pay zero

 

[Wry Catcher]

I pay estimated tax quarterly. Pretty much hit it on the nose.

That's not the issue, if you pay quarterly, you've paid more taxes than all of the corporations noted in the link.

 

[Billy_Kinetta]

I pay estimated tax quarterly. Pretty much hit it on the nose.

That's not the issue, if you pay quarterly, you've paid more taxes than all of the corporations noted in the link.

I also invested far, far less into the overall economy, and provided jobs for no one.

 

[Auld Phart]

another week, another thread about x number of companies not paying any taxes,

 

[Dekster]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

For us, not much changed. My refund was about the same as it was last year though I made about 2.5% more money. I didn't lose any deductions really. I guess it really only hurt people with a ton of kids and/or who live in states with high SALT numbers.

 

[C_Clayton_Jones]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

Conservatives, of course, will attempt to propagate the failed, wrongheaded ‘argument’ that although corporations don’t pay Federal income tax, they might pay state and local taxes and otherwise ‘benefit’ society with jobs and ‘charitable contributions.’

But such rightwing sophistry fails as a false comparison fallacy and otherwise misses the point: corporations benefit from the works, services, and infrastructure provided by the Federal government, and should pay Federal taxes accordingly.

 

[leftwinger]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

For us, not much changed. My refund was about the same as it was last year though I made about 2.5% more money. I didn't lose any deductions really. I guess it really only hurt people with a ton of kids and/or who live in states with high SALT numbers.

Child Tax Deduction was INCREASED to $2000 per Child (from $1K). Credit to $1400? Married Joint bumped up to $24K. No one hurt there?

Again, Coastal "elites" in million dollar +++ homes with $100K +++ property taxes will lose >$90K deduction. Do they make enough so 2% less income Tax makes it a wash? Most of America not affected.

 

[petro]

My federal taxes are 1,200 lower than last year.
The loss of deductions actually helped my cause as the new standard deduction is far higher than what I could add up itemizing.
As far as corporations, plenty of leaders on both sides of the aisle give companies tax breaks to generate more revenue in a given area. If the government confiscates less, it needs to spend less.
Tax breaks whether individual or corporate are NOT giveaways. It is a reduction in confiscation of income.

 

[Dekster]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

For us, not much changed. My refund was about the same as it was last year though I made about 2.5% more money. I didn't lose any deductions really. I guess it really only hurt people with a ton of kids and/or who live in states with high SALT numbers.

Child Tax Credit was INCREASED to $2000 per Child (from $1K). Married Joint bumped up to $24K. No one hurt there?

Again, Coastal "elites" in million dollar +++ homes with $100K +++ property taxes will lose >$90K deduction. Do they make enough so 2% less income Tax makes it a wash? Most of America not affected.

Apparently some were for nuanced reasons Only a portion of the credit is refundable and that refundable portion is subject to a sliding scale based off your income. Of course that sliding scale hurts you the more you make (which the democrats should like technically). So single mom with 4 kids, in a high SALT area, in the upper middle class range potentially could have gotten less back/paid more as a result of the changes.

 

[leftwinger]

Impossible to compare. My years were screwed up with off/on work, 401K withdrawels, unemployment payments, loss of HSA deductions etc. during the Manchurian muslim years. 22% is lower than 25% to the layman.

 

[Correll]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

Conservatives, of course, will attempt to propagate the failed, wrongheaded ‘argument’ that although corporations don’t pay Federal income tax, they might pay state and local taxes and otherwise ‘benefit’ society with jobs and ‘charitable contributions.’

But such rightwing sophistry fails as a false comparison fallacy and otherwise misses the point: corporations benefit from the works, services, and infrastructure provided by the Federal government, and should pay Federal taxes accordingly.

MY personal problem with taxing corporations is that my dividends are taxed AGAIN, when I receive them.


That is double taxation.


Without that, my wealth would grow much quicker, and I could likely retire sooner and have a much more "Golden" retirement, and/or leave a much nicer estate to my child, when my time to leave this mortal plane arrives.

 

[task0778]

It's tax day in America, and if Democrats had gotten their way in 2017, the vast majority of Americans would be paying higher taxes this year. Every single Congressional Democrat voted against the GOP-passed tax reform law that slashed tax burdens for approximately 80 percent of all households --- including an even higher percentage of middle-income families. The Left has deliberately and repeatedly lied about this reality, with minimal and perfunctory fact-checking from the media. As a result, only a fraction of the country realizes that their overall federal tax bill went down, based on recent polling. It's important to set the record straight, and today is a good opportunity to do so. According to the Treasury Department, fully 90 percent of US workers experienced higher take-home pay in 2018 thanks to the new law. And here are the overall numbers, courtesy of the left-leaning Tax Policy Center:


Looking exclusively at the individual federal income tax changes in the law, TPC found that almost exactly two-thirds of Americans received a tax cut, averaging nearly $2,200 -- including 82 percent of middle-income earners, who averaged a tax cut of $1,050. When all provisions of the law are examined, 80.4 percent of earners received a tax cut, including 91.3 percent of the middle class. Just 4.8 percent of the population saw their taxes go up, a disproportionate number of whom are higher-income earners who itemize deductions and live in high-tax states and jurisdictions. Broadly speaking, 80 percent saw a cut, 15 percent saw no change, and less than five percent saw an increase. This is the data.


So, when you hear or read about some progressive liberal democrat saying the 2017 Tax Cut Bill was a tax hike or that it was a giveaway for the rich, they are in fact lying. BTW, my tax hit went down but my income went up. Worked out well for me, and I'm a retiree on a fixed income.

 

[Blues Man]

My net tax rate dropped 4%

 

[USNavyVet]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

Conservatives, of course, will attempt to propagate the failed, wrongheaded ‘argument’ that although corporations don’t pay Federal income tax, they might pay state and local taxes and otherwise ‘benefit’ society with jobs and ‘charitable contributions.’

But such rightwing sophistry fails as a false comparison fallacy and otherwise misses the point: corporations benefit from the works, services, and infrastructure provided by the Federal government, and should pay Federal taxes accordingly.

Would you care to provide posts stating such? I won't hold my breath waiting.

 

[Wry Catcher]

another week, another thread about x number of companies not paying any taxes,

How many threads from your side of the aisle on Benghazi, Solyndra, HRC's E-Mails, Obama's place of birth, his pastor, his school records and other attacks on his Character?

 

[Wyatt earp]

Please be honest, was the Ryan / Trump bill the single page document promised by Trump? Did the extra few dollars you received in your pay checks cover the loss of deductions?

Consider this:

60 of America's biggest companies paid no federal income tax in 2018

Twice as many companies paying zero taxes under Trump tax bill

You paid taxes. These corporations didn't. – Center for Public Integrity

Lol you still don't know how it works, God liberals will never know how to do math



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