Trump Doubled My Tax Refund Check!!

[radical right]

It was never the federal governments to begin with you silly fucker

Actually it was. Check your federal reserve note for where it came from. Hint, it was printed by the gumint.

 

[Rustic]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

Shame they don't cut their spending like all responsible people do when their income goes down.

And this is why I cannot support the tax cut. There should be a spending cut and when that is shown to lower our national debt then we can talk tax cuts. Tax cuts to win votes while adding to the deficit is not acceptable to me.

It doesn't matter if you or I support it. We have given DC ultimate control of our lives and as an electorate we are not smart enough to take that control back.
Term limits
Balanced Budget Amendment
Public campaign financing
Restricting political ads to pbs
Removing party designation from ballots

All ideas to give control back to the voter. All pointless because not enough of the public pays attention to make these demands.

You are right, it is all pointless because the powers that be have us fighting each other instead of the real enemy.

Which is socialism

 

[Rustic]

It was never the federal governments to begin with you silly fucker

Actually it was. Check your federal reserve note for where it came from. Hint, it was printed by the gumint.

Paper is not wealth

 

[BluesLegend]

bottom line: $24K is now the max you can deduct?

For state income + property + mortgage interest?

That will crush millionaire income earners in $10mi homes. They will pay $100K more Fed tax easily

Its possible to have enough deductions to exceed the $24k standard deduction. $10k for state income/property taxes, mortgage interest at a higher interest rate, plus there are other deductions scattered in the bill. So its possible, but the vast majority of people will end up with the $24k standard deduction which was the intent of the bill e.g. to simplify filing.

 

[radical right]

It was never the federal governments to begin with you silly fucker

Actually it was. Check your federal reserve note for where it came from. Hint, it was printed by the gumint.

Paper is not wealth

The gummit owns the dollars. If you want to buy stuff with chickens, or bitcoins then the feds don't own it.

 

[depotoo]

That’s only for the alternative minimum tax, not others. If they pay at tax time they are ok. Now, depending on how much is owed, they could have to pay an underpayment penalty. They also have a calculator you can use to figure approximately what you would owe or not vs your allowances.
Topic No. 306 Penalty for Underpayment of Estimated Tax | Internal Revenue Service

You can allways claim more allowances and get more back each pay check, if you always get a refund

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

I'd prefer a tax system where the proper amount was paid, rather than having to get a bunch back at tax time.....but if your calculations are correct, good for you.

True...I have a number of employees that claim 99 dependents all year...nearly exempting themselves from federal taxes and then paying all their liabilities at the end of the year....I do not suggest this if you're not seriously disciplined....I do like the idea of sitting on my own money all year as well.

If they are doing that, they are violating the law and must pay a fine for not withholding sufficient amounts.

 

[Rustic]

Cryptocurrency Is the way to go...

 

[Harpy Eagle]

How much bigger will the debt be?

The deficit will go down under Trump's tax reform bill as tax revenues rise in a growing economy just relax.

No, it will not. Even under the White House's expected growth the tax bill adds 1.5 trillion do the deficit. that is a fact, and that is the best case scenario.

Thats over a 10 year period Obama's first budget added almost as much.

And it is just one bill, it is not all that is going to be added. That is the fact many seem to be missing.

Considering the last 3 Repub presidents added more than 320% to the deficits does not fill me with confidence that anything is going to change now. You Repubs like to attack Obama for adding so much debt, and rightly so, but you ignore your own history of adding even more.
There should never be a tax cut till there is spending cuts first.

I haven't considered myself a Republican in years they they haven't been much different than Democrats when it comes to Government spending, and I agree there should be spending cuts but that's not going to happen with the way things are now. Democrats won't agree to cuts in social programs and cutting defense spending in this age is suicidal.

You do not consider yourself a Repub, but do you pretty much vote only for them?

 

[BluesLegend]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

Shame they don't cut their spending like all responsible people do when their income goes down.

And this is why I cannot support the tax cut. There should be a spending cut and when that is shown to lower our national debt then we can talk tax cuts. Tax cuts to win votes while adding to the deficit is not acceptable to me.

You do realize that the debt is unplayable it is far too large...
The well is dry

Government will print money to deal with the debt, devaluing our currency bank on it. Then when our money is worthless and a loaf of bread cost $5,000 finally the whole debt house of cards will collapse.

 

[Rustic]

It was never the federal governments to begin with you silly fucker

Actually it was. Check your federal reserve note for where it came from. Hint, it was printed by the gumint.

Paper is not wealth

The gummit owns the dollars. If you want to buy stuff with chickens, or bitcoins then the feds don't own it.

The US dollar is as worthless as the papers printed on

 

[radical right]

Its possible to have enough deductions to exceed the $24k standard deduction. $10k for state income/property taxes, mortgage interest at a higher interest rate, plus there are other deductions scattered in the bill. So its possible, but the vast majority of people will end up with the $24k standard deduction which was the intent of the bill e.g. to simplify filing.

I thought the intent was to give a middle class tax cut.

They simplified the system forcing many in the middle class to pay more in taxes.

 

[Rustic]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

Shame they don't cut their spending like all responsible people do when their income goes down.

And this is why I cannot support the tax cut. There should be a spending cut and when that is shown to lower our national debt then we can talk tax cuts. Tax cuts to win votes while adding to the deficit is not acceptable to me.

You do realize that the debt is unplayable it is far too large...
The well is dry

Government will print money to deal with the debt, devaluing our currency bank on it. Then when our money is worthless and a loaf of bread cost $5,000 finally the whole debt house of cards will collapse.

Yep, the well is dry

 

[radical right]

It was never the federal governments to begin with you silly fucker

Who owns the dollar was the question

The US dollar is as worthless as the papers printed on

The government owns the paper it's printed on.

 

[danielpalos]

The deficit will go down under Trump's tax reform bill as tax revenues rise in a growing economy just relax.

No, it will not. Even under the White House's expected growth the tax bill adds 1.5 trillion do the deficit. that is a fact, and that is the best case scenario.

The right wing only complains when income redistribution benefits the poor.

Keeping more of MY own money is not income redistribution get real.

Not if it is adding to the debt. It is simple income redistribution. Why complain about welfare for the poor.

LOL taking my money and gifting it to other people is income redistribution. Adding to the national debt is overspending.

Why do the rich need a tax cut?

Providing for the general welfare is in our Constitution.

Why does the right wing have a problem with welfare spending.

 

[leftwinger]

bottom line: $24K is now the max you can deduct?

For state income + property + mortgage interest?

That will crush millionaire income earners in $10mi homes. They will pay $100K more Fed tax easily

Its possible to have enough deductions to exceed the $24k standard deduction. $10k for state income/property taxes, mortgage interest at a higher interest rate, plus there are other deductions scattered in the bill. So its possible, but the vast majority of people will end up with the $24k standard deduction which was the intent of the bill e.g. to simplify filing.

CA is ~1.25% property tax (Long Island sounds same).

Many houses are worth $1mil easily ($12.5K property tax). State income tax is already washed out for those homeowners? If they make $1mil income in CA they pay over 10% state income tax ....... call it $100K. No longer deductible. $40K loss from pocket.


Mortgage interest is capped at $750K? More losses if house fully financed (for many new buyers of costly homes for sure)



Don't forget, they lowered each Fed bracket so all will pay less? This will offset some of these losses I ASSumed.

 

[Thinker101]

No, it will not. Even under the White House's expected growth the tax bill adds 1.5 trillion do the deficit. that is a fact, and that is the best case scenario.

The right wing only complains when income redistribution benefits the poor.

Keeping more of MY own money is not income redistribution get real.

Not if it is adding to the debt. It is simple income redistribution. Why complain about welfare for the poor.

LOL taking my money and gifting it to other people is income redistribution. Adding to the national debt is overspending.

Why do the rich need a tax cut?

Providing for the general welfare is in our Constitution.

Why does the right wing have a problem with welfare spending.

Yeah, that general welfare isn't the same as your type of welfare.

 

[danielpalos]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

It was never the federal governments to begin with you silly fucker

End our war on drugs to help balance the budget.

 

[danielpalos]

The right wing only complains when income redistribution benefits the poor.

Keeping more of MY own money is not income redistribution get real.

Not if it is adding to the debt. It is simple income redistribution. Why complain about welfare for the poor.

LOL taking my money and gifting it to other people is income redistribution. Adding to the national debt is overspending.

Why do the rich need a tax cut?

Providing for the general welfare is in our Constitution.

Why does the right wing have a problem with welfare spending.

Yeah, that general welfare isn't the same as your type of welfare.

It can be any fantasy Congress wants, in the federal districts.

 

[Montrovant]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

It was never the federal governments to begin with you silly fucker

End our war on drugs to help balance the budget.

While I'm all for curtailing or ending the drug war, I'm sure the government would just find something else to spend the money on.

 

[danielpalos]

I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!

And the government will be borrowing that amount to make up the loss of revenue.

It was never the federal governments to begin with you silly fucker

End our war on drugs to help balance the budget.

While I'm all for curtailing or ending the drug war, I'm sure the government would just find something else to spend the money on.

How about health care?

 

[BluesLegend]

No, it will not. Even under the White House's expected growth the tax bill adds 1.5 trillion do the deficit. that is a fact, and that is the best case scenario.

The right wing only complains when income redistribution benefits the poor.

Keeping more of MY own money is not income redistribution get real.

Not if it is adding to the debt. It is simple income redistribution. Why complain about welfare for the poor.

LOL taking my money and gifting it to other people is income redistribution. Adding to the national debt is overspending.

Why do the rich need a tax cut?

Providing for the general welfare is in our Constitution.

Why does the right wing have a problem with welfare spending.

Providing for the general welfare doesn't mean what you think it does. Here go educate yourself CRS/LII Annotated Constitution Article I