GOP Tax Cut Doesn't Pay Cost of Living Rise; Shutdown Exposes Complete GOP Disarray!

[mascale]

(1) So apparently no one should use TurboTax(?), which is possibly a company or something apart from usual accounting offices. It is or is not.
(2) A portion "refundable" does not make the any total "refundable."
(3) So Toddsterpatriot is claiming that TurboTax is claiming already that at $1400 refundable tax credit is actually a full $2000 tax credit. already . "Taxes owed can be negative," is not IRS for the amount is refundable, unless it is applied to something already paid.
(4) Apparently Toddsterpatriot claims that TurboTax claims that tax credits not refundable are tax credits really refundable(?)!
(5) Likely anyone can sue TurboTax.
(6) Likely TurboTax is all about business(?)!

"Crow, James Crow: Shaken, Not Stirred!"
(Many come to Lands of Many Nations, seeking refuge from vile deity: With tax refunds and refundable amounts, all paid, in hand!)

 

[Toddsterpatriot]

(1) So apparently no one should use TurboTax(?), which is possibly a company or something apart from usual accounting offices. It is or is not.
(2) A portion "refundable" does not make the any total "refundable."
(3) So Toddsterpatriot is claiming that TurboTax is claiming already that at $1400 refundable tax credit is actually a full $2000 tax credit. already . "Taxes owed can be negative," is not IRS for the amount is refundable, unless it is applied to something already paid.
(4) Apparently Toddsterpatriot claims that TurboTax claims that tax credits not refundable are tax credits really refundable(?)!
(5) Likely anyone can sue TurboTax.
(6) Likely TurboTax is all about business(?)!

"Crow, James Crow: Shaken, Not Stirred!"
(Many come to Lands of Many Nations, seeking refuge from vile deity: With tax refunds and refundable amounts, all paid, in hand!)

A portion "refundable" does not make the any total "refundable."

You've apparently never worked on your own taxes.

No luck finding a source backing your claim? LOL!

So Toddsterpatriot is claiming that TurboTax is claiming already that at $1400 refundable tax credit is actually a full $2000 tax credit.

Nope. Posted a clear explanation and you're still confused.
The full tax credit is $2000. $1400 of which is refundable.
If you have $2000 in tax liabilities for the year, this credit will bring your liability to zero.
If your tax liabilities are less than $2000, you could get a refund of up to $1400, but not more, from this refundable credit.

Even with zero tax liability, you may still qualify
With refundable credits, if you qualify, you can still use the credit even if you have no tax liability. Some taxpayers may find that nonrefundable credits, deductions or other circumstances leave them with zero taxes due. Even with no taxes owed, taxpayers can still apply any refundable credits they qualify for and receive the amount of the credit or credits as a refund. This means that if you end up with no taxes due and you qualify for a $2,000 refundable tax credit, you will receive the entire $2,000 as a refund.

For this reason, when doing your taxes, you calculate refundable tax credits after figuring in all nonrefundable credits, deductions and tax payments.

5 Things You Should Know about Refundable Tax Credits - TurboTax Tax Tips & Videos

Likely anyone can sue TurboTax.

Before you sue them, you should get a better grasp.

 

[mascale]

So "Rotten Ryan's" family of four at $60,000 per year: For 2017 gets the standard deduction of $12,700, four personal exemptions of $16,200, an IRA deduction of $5,500 bringing taxable income to $25,600. The federal income tax is slightly more than $2000, less two child tax credits of $2000, and then the ObamaCare payments on the form 1040. The tax liability is zero for tax year 2017.

The Trump Family Zingers, Toddpatriot supported, "Tax Cut" creates a $24,000 standard deduction with a $5,500 IRA deduction for this year,2018, due next year. Taxable Income is $30,500 for a federal income tax of $3,225, less two child credits of $2000 per, so the tax liability is zero for tax year 2018.

Zero liability happens in both tax years, no cuts. It can be contended that the ObamaCare payments are not a tax credit, but are a payment, from a tax credit. They happen in both tax years. The Republicans want to take them away.

When the Republicans take them away: Then there can really be weeping and gnashing of teeth!

$60,000 is a median income in USA. Most nations get government-funded care routinely.

Mostly, the neighbors in the USA get screwed. (See even Deuteronomy 23;19-20, KJV or elsewhere!)

"Crow, James Crow: Shaken, Not Stirred!"
(Lands of Many Nations know the feeling!)

 

[Admiral Rockwell Tory]

The bill would have better had the family making a pittance of 60 grand for triple the cut....but we can't have that can we....not one person was able to explain why the cuts weren't ALot bigger.

ALOt?

Not a word. Try again!

 

[Admiral Rockwell Tory]

How about an extra 4 grand per kid? That's a real help.

Why not just do away with income tax?

If you are going to be stupid, why not go all the way?

 

[Admiral Rockwell Tory]

The Obama Stimulus had included a Make Work Pay Refundable credit for nearly everyone, one way or another. Actually, it is Canada that has come up with the more effective anti-poverty tax solutions.

"Crow, James Crow: Shaken, Not Stirred!"
(With a sliding dollar likely, maybe some low-income Canadian will even buy out the Koch family, and Speaker Ryan's now famous new slush fund.)

Canada should shut up or we'll stomp the shit out of them, probably only take a couple days to conquer their shithole country.

Days? Remember, they have a lot of Frenchies up there with white flags at the ready! It might take a veiled threat and they'd give up!

 

[Admiral Rockwell Tory]

The calculator is called, "IRS Form 1040, Tax Year ended 12/31/2017."

Even White People know this.

The OP referenced Speaker Ryan's lie about a family of four at $60,000 income per year.

"Crow, James Crow: Shaken, Not Stirred!"
(Superstitious Prince of Subjugating Imperial Egypt also invented a deity unable to compute! See Deuteronomy 23:19-20, Exposed in Matthew 25:14-30, KJV, e.g. No more loans at usury among believers in the Superstition: Forever!)

You are so dumb that you do not even realize how stupid you really are!

 

[easyt65]

Famously a family of four at $60,000 per year gets $1182.00 savings in taxes this year, less than the recent 2% inflation of last year. That was $1200.00, just last year. This year the House GOP needed Democrats to keep the Federal government open. Famously, the Senate Republicans split on the issue of keeping the Federal government open.

The "Corrupt Deal" in the White House is actually far worse for progress than Jello. It has already cost the typical US household, even a cost-of-living increase!

"Crow, James Crow: Shaken, No Stirred!"
(2% does likely compute the time that US President has spent playing golf since taking office! It is either that or get some sleep, (and cutting back on the uppers)!)

"ARMAGEDDON!"

EVERYTHING THE DEMOCRATS AND SNOWFLAKES SAID ABOUT THE TAX REFORM BILL TURNED OUT TO BE ONE BIG HUGE LIE...

...BUT "TRUST US - YOU CAN BELIEVE US NOW!"

BWUHAHAHAHA!

 

[Admiral Rockwell Tory]

5 thousand per kid would have really helped the nation.

Why not $100.000?

Go big or go home!

Dumb ass!

 

[BluesLegend]

The Obama Stimulus had included a Make Work Pay Refundable credit for nearly everyone, one way or another. Actually, it is Canada that has come up with the more effective anti-poverty tax solutions.

"Crow, James Crow: Shaken, Not Stirred!"
(With a sliding dollar likely, maybe some low-income Canadian will even buy out the Koch family, and Speaker Ryan's now famous new slush fund.)

Canada should shut up or we'll stomp the shit out of them, probably only take a couple days to conquer their shithole country.

Days? Remember, they have a lot of Frenchies up there with white flags at the ready! It might take a veiled threat and they'd give up!

I forgot about that, yet another reason to stomp Canada's guts out those French speaking bastards.

 

[Toddsterpatriot]

So "Rotten Ryan's" family of four at $60,000 per year: For 2017 gets the standard deduction of $12,700, four personal exemptions of $16,200, an IRA deduction of $5,500 bringing taxable income to $25,600. The federal income tax is slightly more than $2000, less two child tax credits of $2000, and then the ObamaCare payments on the form 1040. The tax liability is zero for tax year 2017.

The Trump Family Zingers, Toddpatriot supported, "Tax Cut" creates a $24,000 standard deduction with a $5,500 IRA deduction for this year,2018, due next year. Taxable Income is $30,500 for a federal income tax of $3,225, less two child credits of $2000 per, so the tax liability is zero for tax year 2018.

Zero liability happens in both tax years, no cuts. It can be contended that the ObamaCare payments are not a tax credit, but are a payment, from a tax credit. They happen in both tax years. The Republicans want to take them away.

When the Republicans take them away: Then there can really be weeping and gnashing of teeth!

$60,000 is a median income in USA. Most nations get government-funded care routinely.

Mostly, the neighbors in the USA get screwed. (See even Deuteronomy 23;19-20, KJV or elsewhere!)

"Crow, James Crow: Shaken, Not Stirred!"
(Lands of Many Nations know the feeling!)

family of four at $60,000 per year: For 2017 gets the standard deduction of $12,700, four personal exemptions of $16,200, an IRA deduction of $5,500 bringing taxable income to $25,600. The federal income tax is slightly more than $2000,

15% of $6950 = $1042.50 + $1865
Tax liability is $2907.50.
Less two child credits of $2000, so the tax liability is $907.50 for tax year 2017.

Taxable Income is $30,500 for a federal income tax of $3,225, less two child credits of $2000 per, so the tax liability is zero for tax year 2018.

Child credits are refundable, up to $1400 each.
2018 tax liability is negative $775.
The family in this example actually saves $1682.50 compared to 2017.

Zero liability happens in both tax years, no cuts.

DERP!

 

[mascale]

ObamaCare Payments are currently available in both tax years--making zero owed by the household to the federal government in both tax years. The actual saving without ObamaCare is the $907.50 otherwise payable in 2017, (That does follow along what the Tax Tables do show, now).

But the Republicans do want to take ObamaCare away. In "The Screw Everybody" new tax plan, firstly, the Additional Child Tax Credit rates are inadequate against the tax year 2018 total deductions of only $29,500: An Adjusted Gross of $30,500. The Federal Tax is $3,225.00. The 1400 per child refundable tax credit leaves the household owing $435.00. So instead of that, the $2000.00 per child tax credit tax has the household owing zero at that point. Then the ObamaCare payments kick in, on Form 1040, in the Payments section of the form. The federal government gets billed, and it pays: In both tax years. The household owes nothing in both tax years.
____________________________________________
When the Republicans take the ObamaCare payments away: Then there can really be weeping and gnashing of teeth! $60,000 is a median income in USA. Most nations, however, get government-funded care routinely. Mostly, the neighbors of Republicans in the USA get screwed. The Republicans offer no replacement for ObamaCare,
only its discontinuation. The Trump Family Zingers claimed that to be a part of the Tax Reform. See even Deuteronomy 23;19-20, KJV or elsewhere: For How they reason!
______________________________________
Like the Denigrating Prince of Egypt--a conquering butcher, predator, enslaver, sexual assaulter--of any of the multiple arts greatly admired in the Roman Empire, too--Not only are believers prohibited from any benefits of usury: Mainly the believers charge usury on gifts and loans to the foreign, aka the neighbors! The outcome is shown in Matt 25:14-30, or in Las Vegas during the foreclosure crisis. What happened in Las Vegas, it is known: Mainly anyone had to run like hell away from!

The ObamaCare payments are a tax credit in the statute.

"Crow, James Crow: Shaken, Not Stirred!"
(Many are called, few chosen. . .fewer still are actually left at all: In what is called, "War!")

 

[mascale]

Just noting--
"Of the 9.2 million people who enrolled in plans for 2017 through HealthCare.gov during open enrollment, nearly 85 percent were eligible for subsidies that averaged $323 per month. Once the averages are calculated for 2018, the subsidy amounts will be even larger."

 

[buckeye45_73]

Famously a family of four at $60,000 per year gets $1182.00 savings in taxes this year, less than the recent 2% inflation of last year. That was $1200.00, just last year. This year the House GOP needed Democrats to keep the Federal government open. Famously, the Senate Republicans split on the issue of keeping the Federal government open.

The "Corrupt Deal" in the White House is actually far worse for progress than Jello. It has already cost the typical US household, even a cost-of-living increase!

"Crow, James Crow: Shaken, No Stirred!"
(2% does likely compute the time that US President has spent playing golf since taking office! It is either that or get some sleep, (and cutting back on the uppers)!)

articles are showing the dems in disarray. the gop is just fine

 

[buckeye45_73]

Just noting--
"Of the 9.2 million people who enrolled in plans for 2017 through HealthCare.gov during open enrollment, nearly 85 percent were eligible for subsidies that averaged $323 per month. Once the averages are calculated for 2018, the subsidy amounts will be even larger."

didn't the op embarrass you enough. everything you said was bullshit

 

[Toddsterpatriot]

ObamaCare Payments are currently available in both tax years--making zero owed by the household to the federal government in both tax years. The actual saving without ObamaCare is the $907.50 otherwise payable in 2017, (That does follow along what the Tax Tables do show, now).

But the Republicans do want to take ObamaCare away. In "The Screw Everybody" new tax plan, firstly, the Additional Child Tax Credit rates are inadequate against the tax year 2018 total deductions of only $29,500: An Adjusted Gross of $30,500. The Federal Tax is $3,225.00. The 1400 per child refundable tax credit leaves the household owing $435.00. So instead of that, the $2000.00 per child tax credit tax has the household owing zero at that point. Then the ObamaCare payments kick in, on Form 1040, in the Payments section of the form. The federal government gets billed, and it pays: In both tax years. The household owes nothing in both tax years.
____________________________________________
When the Republicans take the ObamaCare payments away: Then there can really be weeping and gnashing of teeth! $60,000 is a median income in USA. Most nations, however, get government-funded care routinely. Mostly, the neighbors of Republicans in the USA get screwed. The Republicans offer no replacement for ObamaCare,
only its discontinuation. The Trump Family Zingers claimed that to be a part of the Tax Reform. See even Deuteronomy 23;19-20, KJV or elsewhere: For How they reason!
______________________________________
Like the Denigrating Prince of Egypt--a conquering butcher, predator, enslaver, sexual assaulter--of any of the multiple arts greatly admired in the Roman Empire, too--Not only are believers prohibited from any benefits of usury: Mainly the believers charge usury on gifts and loans to the foreign, aka the neighbors! The outcome is shown in Matt 25:14-30, or in Las Vegas during the foreclosure crisis. What happened in Las Vegas, it is known: Mainly anyone had to run like hell away from!

The ObamaCare payments are a tax credit in the statute.

"Crow, James Crow: Shaken, Not Stirred!"
(Many are called, few chosen. . .fewer still are actually left at all: In what is called, "War!")

The Federal Tax is $3,225.00. The 1400 per child refundable tax credit leaves the household owing $435.00. So instead of that, the $2000.00 per child tax credit tax has the household owing zero at that point.


Refundable Tax Credits

Refundable credits are the most versatile type of tax credit. These credits are treated just like tax payments that you make to the IRS, such as income taxes withheld from your paycheck or estimated tax payments that you make throughout the year. In other words, a refundable credit is subtracted from the amount of taxes you owe (after deductions), similar to the way the tax withheld from your paycheck is subtracted from your total yearly tax liability.

A refundable tax credit is particularly advantageous because it can reduce your tax liability to below zero. If the amount of a refundable tax credit is more than the amount of taxes due, the difference will be given back to you as a tax refund. If you are already owed a tax refund, the refundable credit will be added to increase the amount of your refund.

Non-Refundable Tax Credits

Nonrefundable credits are another great way to decrease your tax bill. A nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero. Any unused portion of a nonrefundable tax credit will expire in the year the credit is claimed and cannot be carried over.


Refundable vs. Non-Refundable Tax Credits

DERP!

 

[mascale]

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes. If the total $2000 per child credit--non-refundable tax credit--is applied: Then the tax liability is negative, so the taxpayer pays nothing to the federal government. It gets no cash back from the credit, however. It only gets back any withholding or other payments made.

To get a payment back from the IRS, the entire $2000 per child would have to be refundable. It is not. The IRS rules will likely clarify that you can claim the refundable credit now (or then), or the non-refundable credit now, (or then): But not both. That is the case now, with the current per child credit.

Then back to the Despicable case of Lying Rotten Ryan--in the Trump Administration--then even the $905 "Tax cut" does not keep pace with inflation. That was actually the point of the OP. Inflation is currently, and expected to be: 2.2% or more annually. The $905. is only a 1.5 percent increase, not even a cost-of-living increase.

The one thing that may help with the $60,000 family, married filing jointly, is that the ObamaCare tax credit--in the Form 1040 payments--is expected, and even to increase. That is noted in my post, #73, above.

Since the Despicable case of Lying Rotten Ryan, peddling the Trump Family Zingers Tax cut--in a Trump Administration--is actually a throw-back to the failed two tax cuts of Bush II, Term I: Then even the inadequate Iraq War Spending could not keep the U. S. economy from the Great Recession downturn.

That should now be said to be shown intended! The arithmetic of the Bush Tax Cuts didn't work, and the inadequate Iraq War Spending didn't work. Osama bin laden even spent the War in Pakistan(?). The Great Recession is known history, too! Now neighborhood-unfriendly Republicans are doing the famous deja vu, all over again!
_________________________________________________________________________

1) Companies will look for friendly markets with money able to be spent--if expansion is to happen.
2) The Despicable Trump Family Zingers-Bush Tax Cut--leaves companies with a lot extra cash, and not much reason to spend any of it. Stock buy-backs make sense. Everyone sees that, even now!
3) The new tax-cut also cuts back on the inflation adjustments.
4) The actual amount of the tax cut for the example Family of Four does not keep up with price inflation.
5) The actual further amounts of the tax cuts get less and less successively indexed.
6) Intended by the Lying Rotten Ryan Entire Family, the Trump Family Zingers Entire Family, and the Republican Supportive Families: Is an annual lessening of actual households purchasing powers.
7) Mitigating that is only the ObamaCare, ACA Subsidy, payment amounts.
_______________________________________________

The Republican Failure is Colossal all over again!

"Crow, James Crow: Shaken, Not Stirred!"
(Many White Eyes even celebrate the recent child hand-cuffing atrocities: Possibly listening to the "William Tell Overture: Thirteen times every day!)

 

[Toddsterpatriot]

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes. If the total $2000 per child credit--non-refundable tax credit--is applied: Then the tax liability is negative, so the taxpayer pays nothing to the federal government. It gets no cash back from the credit, however. It only gets back any withholding or other payments made.

To get a payment back from the IRS, the entire $2000 per child would have to be refundable. It is not. The IRS rules will likely clarify that you can claim the refundable credit now (or then), or the non-refundable credit now, (or then): But not both. That is the case now, with the current per child credit.

Then back to the Despicable case of Lying Rotten Ryan--in the Trump Administration--then even the $905 "Tax cut" does not keep pace with inflation. That was actually the point of the OP. Inflation is currently, and expected to be: 2.2% or more annually. The $905. is only a 1.5 percent increase, not even a cost-of-living increase.

The one thing that may help with the $60,000 family, married filing jointly, is that the ObamaCare tax credit--in the Form 1040 payments--is expected, and even to increase. That is noted in my post, #73, above.

Since the Despicable case of Lying Rotten Ryan, peddling the Trump Family Zingers Tax cut--in a Trump Administration--is actually a throw-back to the failed two tax cuts of Bush II, Term I: Then even the inadequate Iraq War Spending could not keep the U. S. economy from the Great Recession downturn.

That should now be said to be shown intended! The arithmetic of the Bush Tax Cuts didn't work, and the inadequate Iraq War Spending didn't work. Osama bin laden even spent the War in Pakistan(?). The Great Recession is known history, too! Now neighborhood-unfriendly Republicans are doing the famous deja vu, all over again!
_________________________________________________________________________

1) Companies will look for friendly markets with money able to be spent--if expansion is to happen.
2) The Despicable Trump Family Zingers-Bush Tax Cut--leaves companies with a lot extra cash, and not much reason to spend any of it. Stock buy-backs make sense. Everyone sees that, even now!
3) The new tax-cut also cuts back on the inflation adjustments.
4) The actual amount of the tax cut for the example Family of Four does not keep up with price inflation.
5) The actual further amounts of the tax cuts get less and less successively indexed.
6) Intended by the Lying Rotten Ryan Entire Family, the Trump Family Zingers Entire Family, and the Republican Supportive Families: Is an annual lessening of actual households purchasing powers.
7) Mitigating that is only the ObamaCare, ACA Subsidy, payment amounts.
_______________________________________________

The Republican Failure is Colossal all over again!

"Crow, James Crow: Shaken, Not Stirred!"
(Many White Eyes even celebrate the recent child hand-cuffing atrocities: Possibly listening to the "William Tell Overture: Thirteen times every day!)

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes.

Wrong, wrong, wrong.
The non-refundable portion is used first, but only to get the liability to zero, no lower.
In this example, the non-refundable portion adds up to $1200.
That reduces the liability to $2,025.
Now the refundable portion can be used, $2800 for 2 children.
This makes the liability a negative $775.

See, the IRS agrees with me.

Nonrefundable credits are another great way to decrease your tax bill. A nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero.

Refundable vs. Non-Refundable Tax Credits

"Tax cut" does not keep pace with inflation. That was actually the point of the OP.

How large was the Dem tax cut plan? Did that beat inflation? DERP!

Companies will look for friendly markets with money able to be spent--if expansion is to happen.

Cutting our corporate rate from an unfriendly 35% to a friendly 21% is a big help.

The new tax-cut also cuts back on the inflation adjustments.

Turning a 2017 tax bill of $907.50 into a $775 refund in tax year 2018 is a much, much bigger deal than any inflation adjustment.

 

[mikegriffith1]

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes. If the total $2000 per child credit--non-refundable tax credit--is applied: Then the tax liability is negative, so the taxpayer pays nothing to the federal government. It gets no cash back from the credit, however. It only gets back any withholding or other payments made.

To get a payment back from the IRS, the entire $2000 per child would have to be refundable. It is not. The IRS rules will likely clarify that you can claim the refundable credit now (or then), or the non-refundable credit now, (or then): But not both. That is the case now, with the current per child credit.

Then back to the Despicable case of Lying Rotten Ryan--in the Trump Administration--then even the $905 "Tax cut" does not keep pace with inflation. That was actually the point of the OP. Inflation is currently, and expected to be: 2.2% or more annually. The $905. is only a 1.5 percent increase, not even a cost-of-living increase.

The one thing that may help with the $60,000 family, married filing jointly, is that the ObamaCare tax credit--in the Form 1040 payments--is expected, and even to increase. That is noted in my post, #73, above.

Since the Despicable case of Lying Rotten Ryan, peddling the Trump Family Zingers Tax cut--in a Trump Administration--is actually a throw-back to the failed two tax cuts of Bush II, Term I: Then even the inadequate Iraq War Spending could not keep the U. S. economy from the Great Recession downturn.

That should now be said to be shown intended! The arithmetic of the Bush Tax Cuts didn't work, and the inadequate Iraq War Spending didn't work. Osama bin laden even spent the War in Pakistan(?). The Great Recession is known history, too! Now neighborhood-unfriendly Republicans are doing the famous deja vu, all over again!
_________________________________________________________________________

1) Companies will look for friendly markets with money able to be spent--if expansion is to happen.
2) The Despicable Trump Family Zingers-Bush Tax Cut--leaves companies with a lot extra cash, and not much reason to spend any of it. Stock buy-backs make sense. Everyone sees that, even now!
3) The new tax-cut also cuts back on the inflation adjustments.
4) The actual amount of the tax cut for the example Family of Four does not keep up with price inflation.
5) The actual further amounts of the tax cuts get less and less successively indexed.
6) Intended by the Lying Rotten Ryan Entire Family, the Trump Family Zingers Entire Family, and the Republican Supportive Families: Is an annual lessening of actual households purchasing powers.
7) Mitigating that is only the ObamaCare, ACA Subsidy, payment amounts.
_______________________________________________

The Republican Failure is Colossal all over again!

"Crow, James Crow: Shaken, Not Stirred!"
(Many White Eyes even celebrate the recent child hand-cuffing atrocities: Possibly listening to the "William Tell Overture: Thirteen times every day!)

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes.

Wrong, wrong, wrong.
The non-refundable portion is used first, but only to get the liability to zero, no lower.
In this example, the non-refundable portion adds up to $1200.
That reduces the liability to $2,025.
Now the refundable portion can be used, $2800 for 2 children.
This makes the liability a negative $775.

See, the IRS agrees with me.

Nonrefundable credits are another great way to decrease your tax bill. A nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero.

Refundable vs. Non-Refundable Tax Credits

"Tax cut" does not keep pace with inflation. That was actually the point of the OP.

How large was the Dem tax cut plan? Did that beat inflation? DERP!

Companies will look for friendly markets with money able to be spent--if expansion is to happen.

Cutting our corporate rate from an unfriendly 35% to a friendly 21% is a big help.

The new tax-cut also cuts back on the inflation adjustments.

Turning a 2017 tax bill of $907.50 into a $775 refund in tax year 2018 is a much, much bigger deal than any inflation adjustment.

It's pointless arguing with people like that guy. No amount of facts is going to get him to admit he's wrong. Not too long ago, I made $60K and had one kid at home still, and I did not end up with zero tax liability come tax-return time.

 

[Toddsterpatriot]

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes. If the total $2000 per child credit--non-refundable tax credit--is applied: Then the tax liability is negative, so the taxpayer pays nothing to the federal government. It gets no cash back from the credit, however. It only gets back any withholding or other payments made.

To get a payment back from the IRS, the entire $2000 per child would have to be refundable. It is not. The IRS rules will likely clarify that you can claim the refundable credit now (or then), or the non-refundable credit now, (or then): But not both. That is the case now, with the current per child credit.

Then back to the Despicable case of Lying Rotten Ryan--in the Trump Administration--then even the $905 "Tax cut" does not keep pace with inflation. That was actually the point of the OP. Inflation is currently, and expected to be: 2.2% or more annually. The $905. is only a 1.5 percent increase, not even a cost-of-living increase.

The one thing that may help with the $60,000 family, married filing jointly, is that the ObamaCare tax credit--in the Form 1040 payments--is expected, and even to increase. That is noted in my post, #73, above.

Since the Despicable case of Lying Rotten Ryan, peddling the Trump Family Zingers Tax cut--in a Trump Administration--is actually a throw-back to the failed two tax cuts of Bush II, Term I: Then even the inadequate Iraq War Spending could not keep the U. S. economy from the Great Recession downturn.

That should now be said to be shown intended! The arithmetic of the Bush Tax Cuts didn't work, and the inadequate Iraq War Spending didn't work. Osama bin laden even spent the War in Pakistan(?). The Great Recession is known history, too! Now neighborhood-unfriendly Republicans are doing the famous deja vu, all over again!
_________________________________________________________________________

1) Companies will look for friendly markets with money able to be spent--if expansion is to happen.
2) The Despicable Trump Family Zingers-Bush Tax Cut--leaves companies with a lot extra cash, and not much reason to spend any of it. Stock buy-backs make sense. Everyone sees that, even now!
3) The new tax-cut also cuts back on the inflation adjustments.
4) The actual amount of the tax cut for the example Family of Four does not keep up with price inflation.
5) The actual further amounts of the tax cuts get less and less successively indexed.
6) Intended by the Lying Rotten Ryan Entire Family, the Trump Family Zingers Entire Family, and the Republican Supportive Families: Is an annual lessening of actual households purchasing powers.
7) Mitigating that is only the ObamaCare, ACA Subsidy, payment amounts.
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The Republican Failure is Colossal all over again!

"Crow, James Crow: Shaken, Not Stirred!"
(Many White Eyes even celebrate the recent child hand-cuffing atrocities: Possibly listening to the "William Tell Overture: Thirteen times every day!)

The Refundable Part of the Market-Unfriendly, Despicable Tax cut, has to get the Total Tax Liability to below zero to create cash-back. It does not, so the household owes.

Wrong, wrong, wrong.
The non-refundable portion is used first, but only to get the liability to zero, no lower.
In this example, the non-refundable portion adds up to $1200.
That reduces the liability to $2,025.
Now the refundable portion can be used, $2800 for 2 children.
This makes the liability a negative $775.

See, the IRS agrees with me.

Nonrefundable credits are another great way to decrease your tax bill. A nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero.

Refundable vs. Non-Refundable Tax Credits

"Tax cut" does not keep pace with inflation. That was actually the point of the OP.

How large was the Dem tax cut plan? Did that beat inflation? DERP!

Companies will look for friendly markets with money able to be spent--if expansion is to happen.

Cutting our corporate rate from an unfriendly 35% to a friendly 21% is a big help.

The new tax-cut also cuts back on the inflation adjustments.

Turning a 2017 tax bill of $907.50 into a $775 refund in tax year 2018 is a much, much bigger deal than any inflation adjustment.

It's pointless arguing with people like that guy. No amount of facts is going to get him to admit he's wrong. Not too long ago, I made $60K and had one kid at home still, and I did not end up with zero tax liability come tax-return time.

Yeah, he's a special kind of stupid.