First Paycheck Since the New Tax Rates Were Enacted

[Dont Taz Me Bro]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

 

[usmbguest5318]

Well, that's were being an owner of a business sucks, at least in the measurement context described in the OP. One's "paychecks" have no such withholdings, so seeing the impact requires more effort than looking at a pay stub. C'est la vie....

 

[usmbguest5318]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for the poorest taxpayers, what is in 2018 a tax cut will become a tax increase. See also:

• Distributional Analysis of the Tax Cuts and Jobs Act
• Distributional Analysis of the CBO sent to Sen. Orin Hatch -- This document provides a nice summary chart that shows the progressive diminution of the cut by income group.

 

[Lastamender]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for all but the wealthiest taxpayers and corporations, what is in 2018 a tax cut will become a tax increase.

It, the tax cut, has been compared to Armageddon and any benefits has been called crumbs.(by Democrats) Don't watch television mainstream news?

 

[BrokeLoser]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

Come on man...you know this was never really about the middle class with LefTards....they hate the middle class...LefTatds want to see that lowlife with the 0% effective tax rate get a tax reduction...how the fuck that works I have no idea...haha

 

[Cellblock2429]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

/-----/ "You saved more of your own money? I'm OUTRAGED." - Nancy Pants

 

[Toddsterpatriot]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for the poorest taxpayers, what is in 2018 a tax cut will become a tax increase. See also:

• Distributional Analysis of the Tax Cuts and Jobs Act
• Distributional Analysis of the CBO sent to Sen. Orin Hatch -- This document provides a nice summary chart that shows the progressive diminution of the cut by income group.

The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for the poorest taxpayers, what is in 2018 a tax cut will become a tax increase.

Democrats are welcome to write a tax bill that makes these middle class tax cuts larger and permanent.
I've heard they like it when people keep more of their own money.

I await their legislative improvements.

 

[my2¢]

Last year I had $800 withheld out of my monthly pension check to put aside for federal income taxes. Calculated what I would owe for 2018 and had them reduce my withholding to $625 per month.

 

[usmbguest5318]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for all but the wealthiest taxpayers and corporations, what is in 2018 a tax cut will become a tax increase.

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs. Don't watch television mainstream news?

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs.

Such qualitative pronouncement are meaningless to me. I care about the empirical analysis of the tax cut bill's provisions.

Please take a moment and revisit my post.

• I added links to it that provide somewhat more comprehensive empirical analysis than is found in the link I'd included when you clicked reply. Please take a moment and read the content found at those links.
• I also altered my "for all but the wealthiest..." remark to say "for the poorest" because the latter syntax is a more representationally faithful depiction of the diminution of the tax cut's benefits to taxpayers.

There is no question that in the first year of the tax cut, almost everyone will realize noticeable savings. I'm sure that Trump and the GOP are relying heavily on that, along with folks' general reticence for delving into details, being so.

 

[Dschrute3]

Yeah, it's so crazy Democrats are bitchin & moanin about this good news for folks. WTF's wrong with em? They're allowing their irrational hate to consume them.

 

[BasicHumanUnit]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

They will never stop lying. It's all they have.
Thanks for sharing this.

 

[Harpy Eagle]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

That is crazy, especially considering Treasury Secretary Steven Mnuchin said it would be February at the earliest before they were seen on paychecks.

It is almost as if you are making this up...

 

[Lastamender]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for all but the wealthiest taxpayers and corporations, what is in 2018 a tax cut will become a tax increase.

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs. Don't watch television mainstream news?

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs.

Such qualitative pronouncement are meaningless to me. I care about the empirical analysis of the tax cut bill's provisions.

Please take a moment and revisit my post.

• I added links to it that provide somewhat more comprehensive empirical analysis than is found in the link I'd included when you clicked reply. Please take a moment and read the content found at those links.
• I also altered my "for all but the wealthiest..." remark to say "for the poorest" because the latter syntax is a more representationally faithful depiction of the diminution of the tax cut's benefits to taxpayers.

There is no question that in the first year of the tax cut, almost everyone will realize noticeable savings. I'm sure that Trump and the GOP are relying heavily on that, along with folks' general reticence for delving into details, being so.

If they mean nothing and we said by Democrats why would you deny them? What is meaningless to you makes no difference.

 

[Thinker101]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

That is crazy, especially considering Treasury Secretary Steven Mnuchin said it would be February at the earliest before they were seen on paychecks.

It is almost as if you are making this up...

Making it up because...it sounds too good? That's what winning feels like.

 

[flewism]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

Well I'm glad to here this will work out well for you. I don't know your situation other than you have student loans. May I suggest you tuck a little more away for the little ones college if possible. That is a monster to climb as I was saving $200 plus per kid since they were born and that was still woefully short when the time came. I'm past that now and haven't seen exactly where we will stand. The only thing I know is that filing our 2018 year taxes will be the fist time we've haven't itemized in the last 35 years.

 

[Marion Morrison]

I just realized: Wages have finally gone up a little!

Was talking about that the other day with the neighbor. Rent's high, gas is kinda high, Bacon's high, yet nobody has any more money coming in. This is great news!

 

[NightFox]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

That is crazy, especially considering Treasury Secretary Steven Mnuchin said it would be February at the earliest before they were seen on paychecks.

Depends on who is doing your payroll....

Some organizations and/or services providers are faster than others when it comes to putting together 2018 withholding schedules.

 

[usmbguest5318]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for all but the wealthiest taxpayers and corporations, what is in 2018 a tax cut will become a tax increase.

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs. Don't watch television mainstream news?

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs.

Such qualitative pronouncement are meaningless to me. I care about the empirical analysis of the tax cut bill's provisions.

Please take a moment and revisit my post.

• I added links to it that provide somewhat more comprehensive empirical analysis than is found in the link I'd included when you clicked reply. Please take a moment and read the content found at those links.
• I also altered my "for all but the wealthiest..." remark to say "for the poorest" because the latter syntax is a more representationally faithful depiction of the diminution of the tax cut's benefits to taxpayers.

There is no question that in the first year of the tax cut, almost everyone will realize noticeable savings. I'm sure that Trump and the GOP are relying heavily on that, along with folks' general reticence for delving into details, being so.

If they mean nothing and we said by Democrats why would you deny them? What is meaningless to you makes no difference.

If they mean nothing and we said by Democrats why would you deny them?

What? What have I denied? Only that I've not heard Democrats assert that the Trump tax cut will harm (won't help) the middle class.

 

[TNHarley]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

That is crazy, especially considering Treasury Secretary Steven Mnuchin said it would be February at the earliest before they were seen on paychecks.

It is almost as if you are making this up...

They put out the new guidance like 2 weeks ago....

 

[TNHarley]

I saw the statement for my first paycheck for this Friday that uses the new tax rates. I cleared an extra $70. I get paid every two weeks so over the year that amount will be $1820. My wife's should be similar since we make about the same amount. Plus throw in the extra $1,000 child tax credit and by the end of this year we'll have an extra $4,000 to $5,000 in our pockets we wouldn't have had if the new tax legislation hadn't passed. I can use a lot of this money to pay down my student loans faster. We've also talked about redoing our master bathroom.

When will Democrats stop lying and claiming that this legislation won't help the middle class?

When will Democrats stop lying and claiming that this legislation won't help the middle class?

I have yet to see/hear any Democrat say the tax cut won't now help the middle class. The charge I've heard Democrats (and the CBO) make is that the tax cut is inequitable because over time, for all but the wealthiest taxpayers and corporations, what is in 2018 a tax cut will become a tax increase.

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs. Don't watch television mainstream news?

It, the tax cut, has been compared to Armageddon and any benefit has been called crumbs.

Such qualitative pronouncement are meaningless to me. I care about the empirical analysis of the tax cut bill's provisions.

Please take a moment and revisit my post.

• I added links to it that provide somewhat more comprehensive empirical analysis than is found in the link I'd included when you clicked reply. Please take a moment and read the content found at those links.
• I also altered my "for all but the wealthiest..." remark to say "for the poorest" because the latter syntax is a more representationally faithful depiction of the diminution of the tax cut's benefits to taxpayers.

There is no question that in the first year of the tax cut, almost everyone will realize noticeable savings. I'm sure that Trump and the GOP are relying heavily on that, along with folks' general reticence for delving into details, being so.

If they mean nothing and we said by Democrats why would you deny them? What is meaningless to you makes no difference.

If they mean nothing and we said by Democrats why would you deny them?

What? What have I denied? Only that I've not heard Democrats assert that the Trump tax cut will harm (won't help) the middle class.

I have seen it a lot. Especially on here.