11 Million Tax Payers Lose $323 Billion In Deductions In Trump Tax Hit

[Meister]

I don't blame the rich for the debt, I blame our congress for that.

That would be the REPUBLICAN Congress...but we'll pretend it's "both sides" right?

That would be both parties, Lesh, and it isn't something new under this administration.
You CAN pretend that it's a republican thing if helps you sleep at night.

 

[jc456]

Laughable.

Liberals, so despising of upper income groups weep, whine, gnash teeth when those are folks who are suddenly paying what the left calls their "fair share".

If you live in a high-tax state and have a McMansion; a 6 or 7 figure income you Goddamn well can afford your fair share. Even (especially?) if you're a fat-cat Democrat.

Give it up....you're getting what you wanted and now you don't want it anymore.....

Kiss that rich ass. Maybe they'll give you a reach around

so I'm confused yet again by my leftist posters in here. If the tax cuts didn't work, are you saying more revenue was received? I thought you all said the tax cuts would be bad cause not as much would be collected. which is it?

 

[Ray From Cleveland]

I think I'm paying more, but, with the new tax laws, I expected to.....gladly.

Yea well...I'm paying more to...as are millions of others...most not so "gladly"

Why would anyone be glad to tun their money over to the rich anyway?

You do that several times a week without the tax cuts whether you realize it or not. But you don’t complain then.


Sent from my iPad using USMessageBoard.com

So you want to give the rich MORE of your money?

Oh...

The rich never took a dime of my money. How would they be able to do that unless you offered it to them?

 

[Harpy Eagle]

Laughable.

Liberals, so despising of upper income groups weep, whine, gnash teeth when those are folks who are suddenly paying what the left calls their "fair share".

If you live in a high-tax state and have a McMansion; a 6 or 7 figure income you Goddamn well can afford your fair share. Even (especially?) if you're a fat-cat Democrat.

Give it up....you're getting what you wanted and now you don't want it anymore.....

Kiss that rich ass. Maybe they'll give you a reach around

so I'm confused yet again by my leftist posters in here. If the tax cuts didn't work, are you saying more revenue was received? I thought you all said the tax cuts would be bad cause not as much would be collected. which is it?

Less was collected. $13,164,000,000 compared to 2017

 

[Lesh]

The rich never took a dime of my money. How would they be able to do that unless you offered it to them?

They took Meister's money. He admits it and says he doesn't mind. They took MY money and I do mind.

SO you got a tax cut?

That tax cut (whatever it was...$500 bucks?) cost the nation almost 2 trillion dollars

 

[Lesh]

Remember when a trillion dollars mattered?

The entire cost of the ACA was projected to cost a trillion and that wasn't going to be added to the debt. It was simply the cost before premiums,taxes, and penalties were added.

But that trillion FREAKED YOU FUCKERS THE HELL OUT.

This tax cut actually IS going on the debt and it cost more

 

[Ray From Cleveland]

The rich never took a dime of my money. How would they be able to do that unless you offered it to them?

They took Meister's money. He admits it and says he doesn't mind. They took MY money and I do mind.

SO you got a tax cut?

That tax cut (whatever it was...$500 bucks?) cost the nation almost 2 trillion dollars

Letting people keep their own money they made doesn't cost us anything. Spending is what costs us.

 

[Meister]

The rich never took a dime of my money. How would they be able to do that unless you offered it to them?

They took Meister's money. He admits it and says he doesn't mind. They took MY money and I do mind.

SO you got a tax cut?

That tax cut (whatever it was...$500 bucks?) cost the nation almost 2 trillion dollars

I DID NOT ADMIT THAT, LESH. I said my taxes are going up due to the feds, not rich people.
Quit your lying.

 

[Lesh]

I don't blame the rich for the debt, I blame our congress for that.

That would be the REPUBLICAN Congress...but we'll pretend it's "both sides" right?

That would be both parties, Lesh, and it isn't something new under this administration.
You CAN pretend that it's a republican thing if helps you sleep at night.

Well I called that one didn't I.

The tax cuts and spending bills were passed by a REPUBLICAN Congress

 

[Lesh]

I DID NOT ADMIT THAT, LESH. I said my taxes are going up due to the feds, not rich people.
Quit your lying.

Well because of the Feds (Republican Congress) you got a tax increase and the rich got a whopping tax cut....looks like you paid for their tax cut...

But if you're good with that fine.Not many folks would be

Oh and blow that "YOU LIE" shit out your ass

 

[Meister]

I don't blame the rich for the debt, I blame our congress for that.

That would be the REPUBLICAN Congress...but we'll pretend it's "both sides" right?

That would be both parties, Lesh, and it isn't something new under this administration.
You CAN pretend that it's a republican thing if helps you sleep at night.

Well I called that one didn't I.

The tax cuts and spending bills were passed by a REPUBLICAN Congress

So....you're one of those who doesn't believe in history...Got it.
You don't think taxes were hiked when the democrats controlled the house? Is that what you're saying?
You ARE such a lacky for the democrats that you can't even admit the truth, Lesh.

 

[Meister]

I DID NOT ADMIT THAT, LESH. I said my taxes are going up due to the feds, not rich people.
Quit your lying.

Well because of the Feds (Republican Congress) you got a tax increase and the rich got a whopping tax cut....looks like you paid for their tax cut...

But if you're good with that fine.Not many folks would be

Oh and blow that "YOU LIE" shit out your ass

You're a liar, you told a lie to make a point.
With the loopholes that were closed, I am going to pay more than I did last year. Just like the rich, so figure out what I meant by that,
you envious little twit.

 

[Rustic]

There’s more bad news for taxpayers. A government report has revealed that 11 million taxpayers are losing out on $323 billion worth of deductions due to a punishing change in President Donald Trump’s tax law.

The hard news comes after early filers were stunned by shrinking — to vanishing — tax refunds.

The deduction wallop detailed in the government report centers on capped deductions for state and local taxes — including real estate taxes. Formerly, all local taxes could be deducted from federal taxes; now it’s capped at $10,000, which particularly hurts homeowners in major metropolitan areas — especially in the Northeast and California — where housing tends to be more expensive.

The cap was imposed to help pay for huge tax cuts to corporations, whose tax rates were slashed from 35 percent to 21 percent.

The deduction hit is so staggering that it could end up swamping modest gains taxpayers had expected to enjoy due to tax cuts.


11 Million Taxpayers Losing $323 Billion In Deductions In Trump Tax Hit | HuffPost

How many votes did Trump win by in 2016 again?

 

[Flash]

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand.

Wealthy Republicans really HATE the middle class and poor...don't they..

/----/
View attachment 248977

Dude,,,read the guy's words...ya moron

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand

YOU...gave that a "winner" rating stupid

"The people that earned it' in this tsx cut are NOT middle class folks..the benefits of this tax cut go primarily to the very wealthy.

Have they "earned it" any more than the guy breaking his ass for $45K? I don't think so

You are really confused aren't you Moon Bat?

I am a middle class retiree. Comfortable but not rich. Under Trump's tax cut my effective rate went down and I have about $3K more spendable income that I (who earned the money) can do what I want rather than give it so some filthy government bureaucrat to give it to some worthless welfare queen or Illegal.

The reduction in corporate taxes has also helped my income by making my investments. pensions and 401Ks more profitable. God bless Trump.

It is understandable that you are confused about things like this. You admitted to not being able to figure out either your withholding or even the simple third grade math of figuring out your effective tax rate.

You are are sick with Trump Derangement Syndrome so we all know why you have your head up your ass.

 

[Flash]

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand.

Then in 2025, the individual tax relief in the Republican tax bill expires altogether. This is due to a Senate budget rule that restricts the cost of the tax bill to $1.5 trillion. Republicans decided to sunset nearly all the individual tax cuts in order to make the corporate tax cuts permanent.

The result will be a tax increase in 2027 for more than half of all Americans — 53 percent, according to an analysis from the Tax Policy Center.

/---/ The Senate needed a super majority to make the tax cuts permanent - they only had 51. But you already knew that.
Republicans Explain Why They Want Permanent Tax Cuts For Corporations But Not People | HuffPost
The last-minute change, unveiled by Senate Finance Committee Chairman Orrin Hatch (R-Utah) Tuesday night, was made to comply with Senate rules that forbid certain legislation from adding to the federal budget deficit after 10 years. Those rules, dictated by a process known as reconciliation, would allow Republicans to pass their bill with a simple majority instead of with 60 votes.

In short, Republicans were forced to alter the bill in order to more easily pass their tax cuts. In doing so, however, they weakened the talking point that the plan would primarily benefit the middle class.

only in right wing fantasy can you pead so specially, you can ignore this capital but fundamental based metric:
U.S. National Debt Clock : Real Time
Tax Cut Economics are Worthless if they don't balance the budget.

/---/ How many times will you libtards post that meaningless clock? If you really want to eliminate the debt then tell your democRATs in Washington to CUT spending and stop proposing more unfunded spending. You won't because deep down inside you want the debt and like the excessive spending.

Because the only “acceptable” cuts are to programs that help the middle class and poor?

Oh...

You are really confused.

It is oppressive to me to have the filthy government take my money by force and give it to welfare queens and Illegals just so the filthy Democrat Party can have a slave voting base. That is what all these "programs to help the middle class and poor" are all about.

Government welfare never helps anything. It is a burden on the economy that cost jobs and growth and it promotes poverty by creating a dependent class. Just look at all these welfare queens in the big city Democrat voting shitholes of this country. Despicable!

Fuck welfare, subsidizes, bailouts, grants and entitlements.

 

[Toddsterpatriot]

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand.

Wealthy Republicans really HATE the middle class and poor...don't they..

/----/
View attachment 248977

Dude,,,read the guy's words...ya moron

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand

YOU...gave that a "winner" rating stupid

"The people that earned it' in this tsx cut are NOT middle class folks..the benefits of this tax cut go primarily to the very wealthy.

Have they "earned it" any more than the guy breaking his ass for $45K? I don't think so

"The people that earned it' in this tsx cut are NOT middle class folks..the benefits of this tax cut go primarily to the very wealthy.

I'm not "very wealthy", I got a decent tax cut.
Maybe you should post your definition of "middle class folks"?

 

[DOTR]

There’s more bad news for taxpayers. A government report has revealed that 11 million taxpayers are losing out on $323 billion worth of deductions due to a punishing change in President Donald Trump’s tax law.

The hard news comes after early filers were stunned by shrinking — to vanishing — tax refunds.

The deduction wallop detailed in the government report centers on capped deductions for state and local taxes — including real estate taxes. Formerly, all local taxes could be deducted from federal taxes; now it’s capped at $10,000, which particularly hurts homeowners in major metropolitan areas — especially in the Northeast and California — where housing tends to be more expensive.

The cap was imposed to help pay for huge tax cuts to corporations, whose tax rates were slashed from 35 percent to 21 percent.

The deduction hit is so staggering that it could end up swamping modest gains taxpayers had expected to enjoy due to tax cuts.


11 Million Taxpayers Losing $323 Billion In Deductions In Trump Tax Hit | HuffPost

How many votes did Trump win by in 2016 again?

I am glad to see you New York and Cakifornia wealthy paying your fair share.
I hope they break them.

 

[Flash]

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand.

Wealthy Republicans really HATE the middle class and poor...don't they..

/----/
View attachment 248977

Dude,,,read the guy's words...ya moron

Tax cuts put money in the hands of the people that earned the money instead of the filthy welfare queens that elected the corrupt politicians to steal it for them.

That is a good thing. You stupid Moon Bats wouldn't understand

YOU...gave that a "winner" rating stupid

"The people that earned it' in this tsx cut are NOT middle class folks..the benefits of this tax cut go primarily to the very wealthy.

Have they "earned it" any more than the guy breaking his ass for $45K? I don't think so

"The people that earned it' in this tsx cut are NOT middle class folks..the benefits of this tax cut go primarily to the very wealthy.

I'm not "very wealthy", I got a decent tax cut.
Maybe you should post your definition of "middle class folks"?

What these stupid Moon Bats don't understand is that tax cuts normally go to the people that pay the taxes.

In the case of the filthy income tax people and families that are poor and lower level middle income earners don't pay any or much of that trillion a year in income taxes that are collected so what are they bitching about?

In the case of the reduced corporate tax anybody with a 401K or pension or anybody that buys anything made by a corporation benefits from reduced corporate taxes. That is in addition to the people that have the jobs created by the corporations.

These Moon Bats are very confused about thing like this. It is actually comical to see their confusion.

 

[Lesh]

What these stupid Moon Bats don't understand is that tax cuts normally go to the people that pay the taxes.

Yea...screw middle class folks huh?

 

[Lesh]

There’s more bad news for taxpayers. A government report has revealed that 11 million taxpayers are losing out on $323 billion worth of deductions due to a punishing change in President Donald Trump’s tax law.

The hard news comes after early filers were stunned by shrinking — to vanishing — tax refunds.

The deduction wallop detailed in the government report centers on capped deductions for state and local taxes — including real estate taxes. Formerly, all local taxes could be deducted from federal taxes; now it’s capped at $10,000, which particularly hurts homeowners in major metropolitan areas — especially in the Northeast and California — where housing tends to be more expensive.

The cap was imposed to help pay for huge tax cuts to corporations, whose tax rates were slashed from 35 percent to 21 percent.

The deduction hit is so staggering that it could end up swamping modest gains taxpayers had expected to enjoy due to tax cuts.


11 Million Taxpayers Losing $323 Billion In Deductions In Trump Tax Hit | HuffPost

How many votes did Trump win by in 2016 again?

I am glad to see you New York and Cakifornia wealthy paying your fair share.
I hope they break them.

Nice of you. Whole lotta Republicans in those states...at least there was