No one on the right can seem to answer this question. I mean the tax law (that Trump had no input in the design of anyway) only benefited the wealthy. There was a smoke and mirrors bullshit that benefited the poor and middle class for the first year, but for any actual economic effect, only the wealthy benefited.
Trump‘a retarded trade war only made the economic hardship on the consumer worse.
The coal industry is still fucked (thank god though lol)
Wages for the poor are still shit and way behind on the cost of living standard.
Also, in case you still don’t know this: a good stock market does not translate into a benefit for low level workers lol
I've seen a number of answers to this.
I have seen my income tax cut. I have seen my Obama Care penalty eliminated. And I have seen my 401K double in value. And yes, even now, right now, it is double in value.
A good stock market only does not translate to benefit for low level workers, if low level workers are not investing for their retirement like responsible adults.
When you say "that doesn't help me", because you made the choice to not take advantage... that reflects on you, not Trump. Stop being stupid. Invest for your retirement. Not doing so, only reflects badly on you.
Well, I would need to see some statistics that are directly related to your earnings as well as evidence Trump was responsible. Of course, if you’re wealthy enough to benefit from the tax law at this point, then I haven’t learned anything new.
I was making about $25,000 when Trump came into office. The ObamaCare tax alone was going to cost me $1,200 until Trump repealed it.
View attachment 403721
Without giving away information that isn't any of your business.... The blue line is how much money I invested, and the green is the value. By 2018 the total value was about double how much I put in.
So that's one of my investments, and as you can see, the real increases came after 2015.
I'm not sure why the graph did that way, but the last mark is 2020, and goes back, 2019, 2017, 2015.
BTW, yes, when the 2020 crash hit, I invested more money into the market. Which is also how I have drastically increased the value of my portfolio. Investing when stocks are on sale. Winner plan.
As for personal income taxes... it's not that difficult.
Learn what the Tax Cuts and Jobs Act is, when it was passed, the major tax changes it introduced, and how it continues to affect individuals and businesses.
www.investopedia.com
The law retained the old structure of seven individual income
tax brackets, but in most cases, it lowered the rates. The top rate fell from 39.6% to 37%, while the 33% bracket dropped to 32%, the 28% bracket to 24%, the 25% bracket to 22%, and the 15% bracket to 12%.10
The lowest bracket remained at 10%, and the 35% bracket was also unchanged.
View attachment 403724
So if you look at the chart, I fall under the 12% tax bracket, which was lowered from 15%.
So.... yeah, I got a tax cut, and it's thanks to Trump. Without him, I'd not only be paying that, but the $1,200 in Obama Care tax.