Americans Are Finding Out They Got Royally Screwed By The Republican Tax Scam

[bullwinkle]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

 

[bullwinkle]

You already receive more money than you paid from the feds, so you want more? Is that it?

I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.[/QUOTE]
<<I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.>> Then who would subsidize the red states?

 

[Harpy Eagle]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

It is more than they had. People that rely on tax cuts for their raises are morons.

 

[georgephillip]

They could have used that power to fundamentally improve the lives of ordinary Americans. They could have passed all kinds of incentives to keep corporations from “outsourcing” jobs and hiding and parking their profits overseas. They could have routed vast sums of money to rebuild deteriorating highways and bridges that Americans rely on every day. They could have bolstered up Medicare and Social Security, ensuring that millions of citizens enjoyed a dignified and prosperous retirement. They could have helped families pay for their kids’ college educations. They could have funded all kinds of services that would improve the quality of Americans’ lives.

Instead, they chose to do the exact opposite.

Americans are finally finding out they got royally screwed by the Republican tax scam

Checked your 401K or IRA lately? I lost $3000 in 2018, and that was in a safe targeted retirement fund. Which has now been pulled out of the market, and will remain so as long as Trump is President. I can only imagine how my tax return is going to look.

The bad news is yet to come, and we should have expected as much when Republicans passed their "tax cuts" without holding public hearing first:

How the Radical Republican Tax Cut Broke the Economy | DCReport.org

"We call the 2017 tax law the Trump-Radical Republican tax law because not one Democrat voted for the bill in the House or Senate. It was also passed without a single public hearing. It is a terrible law that benefits the richest among us at the expense of the many—and it needs to be fixed..."

"Manufacturing activity has grown for 116 consecutive months, the last 23 of them under Trump, the Institute for Supply Management’s latest report showed.

"But institute reports also showed a sharp slowdown as 2018 ended despite the Trump-Radical Republican tax cut favors for business.

"In December, the institute’s Purchasing Managers Index (PMI) stood at 54.1, down sharply from 59.3 in November.

"Much more worrisome was an 11-point decline in the index for future orders, which fell in December from 62.1 to 51.1. That suggests economic growth will slow, perhaps even stall, later this year."

Sometime before November, 2020?

 

[bullwinkle]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

It is more than they had. People that rely on tax cuts for their raises are morons.

Gator, folks will get by, and probably with a sense of humor about the whole thing. But under it all is the galling fact that those individuals and corporations who are getting really big bundles of cash savings due to this new tax policy think that those benefiting off their meager $58 table scraps should be grateful and vote for more. It's the being taken for fools that hurts and angers.

 

[Harpy Eagle]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

It is more than they had. People that rely on tax cuts for their raises are morons.

Gator, folks will get by, and probably with a sense of humor about the whole thing. But under it all is the galling fact that those individuals and corporations who are getting really big bundles of cash savings due to this new tax policy think that those benefiting off their meager $58 table scraps should be grateful and vote for more. It's the being taken for fools that hurts and angers.

It may have escaped your attention, but I am not defending the tax cut nor the president, I am not a fan of either one. All I have done is explain the faulty logic of "my refund is small, I must have paid more in taxes".

As for the cut, it should have been accompanied by corresponding spending cuts, but since it was not it helped the national debt to grow even larger.

Between Jan and Nov of 2018 tax revenue grew 2000 times slower than it did between Jan and Nov of 2017. The December numbers are not yet out but there is a good chance once they are we will be in the red for revenue growth between the two years.

 

[Remodeling Maidiac]

They could have used that power to fundamentally improve the lives of ordinary Americans. They could have passed all kinds of incentives to keep corporations from “outsourcing” jobs and hiding and parking their profits overseas. They could have routed vast sums of money to rebuild deteriorating highways and bridges that Americans rely on every day. They could have bolstered up Medicare and Social Security, ensuring that millions of citizens enjoyed a dignified and prosperous retirement. They could have helped families pay for their kids’ college educations. They could have funded all kinds of services that would improve the quality of Americans’ lives.

Instead, they chose to do the exact opposite.

Americans are finally finding out they got royally screwed by the Republican tax scam

Checked your 401K or IRA lately? I lost $3000 in 2018, and that was in a safe targeted retirement fund. Which has now been pulled out of the market, and will remain so as long as Trump is President. I can only imagine how my tax return is going to look.

You're right, GE's free ride is finally over.

General Electric Has Seen Almost $70 Billion of Its Value Disappear in 2017

General Electric, which has paid a net negative federal corporate income tax rate since at least 2008, may find itself on the hook for as much as $9 billion in new taxes because of the Republican tax bill




Now they're gonna pay their fair share eh... isn't that what you morons demand?

 

[OnePercenter]

It’s true, those that live in blue states that they have allowed their legislators to rape them and red states to cover their butts in that raping with extraordinarily high taxes, is now no longer allowed. They are finding out it’s time to reel in their own states high taxes.

BOOM, found GEOTUS saved my middle class family $3000 bucks. Thanks Mr President! : The_Donald

Hey, longknife, can you explain how that happened? What extra breaks did you get? I ask because yesterday I read a piece that had over 13K comments complaining about their taxes this year where they either had to pay instead of getting a refund as in the past, or got a significantly reduced refund. Many complained that this is the first year they ever..ever..had to pay instead of getting a refund. I do not doubt that some, like yourself, get the gold mine instead of the shaft, but how? Why? Is there a secret process?

The top 20 states for highest local taxes...11 of them were Red states in the last election:

View attachment 245116

And

Combined sales and income tax leaders
The Tax Foundation interprets individual tax burden by what taxpayers actually spend in local and state taxes, rather than report these expenses from the state revenue perspective used by the Census Bureau. Its State and Local Tax Burden Rankings study reported that Americans paid an average rate of 9.9 percent in state and local taxes in 2012. According to the foundation, the five highest state-local tax states were:

• New York 12.7 %
• Connecticut 12.6%
• New Jersey 12.2%
• Illinois 11.0%
• California and Wisconsin 11.0%

The same states have ranked as the top three consistently since 2005, according to the foundation. "Lots of people want to relocate for lifestyle issues," says Molony. "Some seek a nicer climate. If all things are equal between climate choices, the tax situation becomes an area worth exploring."

States with the Highest and Lowest Taxes - TurboTax Tax Tips & Videos

New in 2018, State and Local Taxes (SALT) has been limited to $10,000, along with new limits on mortgage interest and charitable contributions:
3 Itemized Deduction Changes with Tax Reform | H&R Block

The good news is that the standard deduction has been increased/doubled, so itemizers get hit, but most of us don't.

Doesn't change the fact that American Workers need a pay raise.

 

[OnePercenter]

You already receive more money than you paid from the feds, so you want more? Is that it?

I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.[/QUOTE]

They do.

 

[H B Lowrie]

They could have used that power to fundamentally improve the lives of ordinary Americans. They could have passed all kinds of incentives to keep corporations from “outsourcing” jobs and hiding and parking their profits overseas. They could have routed vast sums of money to rebuild deteriorating highways and bridges that Americans rely on every day. They could have bolstered up Medicare and Social Security, ensuring that millions of citizens enjoyed a dignified and prosperous retirement. They could have helped families pay for their kids’ college educations. They could have funded all kinds of services that would improve the quality of Americans’ lives.

Instead, they chose to do the exact opposite.

Americans are finally finding out they got royally screwed by the Republican tax scam

Checked your 401K or IRA lately? I lost $3000 in 2018, and that was in a safe targeted retirement fund. Which has now been pulled out of the market, and will remain so as long as Trump is President. I can only imagine how my tax return is going to look.

Just another incremental step in the half century long re-rigging of the political/economic system to the detriment of society as a whole for the Wall Street/donor/"job creator" class.

 

[OnePercenter]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

It is more than they had. People that rely on tax cuts for their raises are morons.

Take it from a rich guy; Quit voting for Republicans, they're screwing you.

 

[Admiral Rockwell Tory]

My refund is about the same as last year.
I think that the complainers are from high tax blue states that got some of their deductions removed?

Riiigghht. People in red states got different witholding rates and deductions than everyone else.

And this is just the first year. It only gets worse every year after, right up until year five when the tax cuts go away for everyone except the upper income earners, trust fund babies and corporations.

I'm sure it will be just fine for Trump and Republicans running for reelection.

Hey, shit for brains!

Do you know that this time state and local taxes (SALT) could not be deducted?

Of course you didn't because you are a fucking moron!

 

[Admiral Rockwell Tory]

Bob files his taxes and his refund this year is only $1500. So he gained $1200 and “lost” $500...thus he came out $700 ahead for the year.

Wow, an extra $58.33 a month! That's a MAGA Moment. That'll help a lot with tuition and healthcare, right?

It is more than they had. People that rely on tax cuts for their raises are morons.

Take it from a rich guy; Quit voting for Republicans, they're screwing you.

Rich guy? So your first name is Richard, as in "Dick"?

 

[sawyerloggingon]

You already receive more money than you paid from the feds, so you want more? Is that it?

I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.

<<I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.>> Then who would subsidize the red states?[/QUOTE]
If blue state citizens can't write off high state taxes they will pay more federal tax

 

[sawyerloggingon]

You already receive more money than you paid from the feds, so you want more? Is that it?

I want blue state taxpayers to pay the same federal taxes they would if they lived in red states. Thats it.

They do.[/QUOTE]
they do now.