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Straight from a very wealth mouth.
https://www.usatoday.com/story/opinion/2018/04/10/donald-trump-gop-tax-cuts-wont-deliver-big-raise-column/471188002/
Let's see, who wrote that article?
..."Nick Hanauer, Opinion contributor"
So now we're taking a "opinion" as the "truth" now from a radical, Left Wing, Liberal ?
What's the world coming to with this Liberal Logic (or lack of logic) in this case?
Folks, you just can't make this shit up!
I got a tax cut. This year I’ll pay about 10k less to government.
patrick, why did this post in 2 threads?
That's great that people are happy about borrowing from their children and grand children rather than paying their own bills.
That's great that people are happy about borrowing from their children and grand children rather than paying their own bills.
Opinion means lie? this is your idea of logic?
I got a tax cut. This year I’ll pay about 10k less to government.
I’m not rich, middle class at best. Democrats just hate it when we keep our money instead of giving it to them.
I’m getting over $8k back per year. Love it.
FortWayne saysI got a tax cut. This year I’ll pay about 10k less to government.
That's great that people are happy about borrowing from their children and grand children rather than paying their own bills.
FortWayne saysI got a tax cut. This year I’ll pay about 10k less to government.
I’m not rich, middle class at best. Democrats just hate it when we keep our money instead of giving it to them.
Honest question, how are you getting a $10k tax break? The tax cuts hurt most W-2 earners in CA for the most part with your state income tax percentage going as high as 13. Your property and state income taxes cap at $10k. Show me how it's possible, but if you're getting a $10k tax break, you're not middle class. A $10k savings from these tax cuts is someone making $250k plus very likely in CA which isn't middle class.
These tax "cuts" were meant to hit the high income and property tax, blue states the hardest. And they will. CA, IL, NJ, NY and others. The goal is to flip middle of the road dems over to the other side by showing them how oppressive their state taxes are. I get scr...
I’m not rich, middle class at best.
AMT gone
I’m getting over $8k back per year.
I'm sorry, the tax cut is effective for tax year beginning 1.1.18, which means 2018 taxes are filed and paid in 2019. How would you know how much savings there are when the year is not even 1/3 complete?
I'll throw you a bone and say middle class is $100k in family income ($58k or so is the actual median/middle class family income). Not a chance in hell a middle class person is saving $10k. Or paying AMT.
I'm sorry, the tax cut is effective for tax year beginning 1.1.18, which means 2018 taxes are filed and paid in 2019. How would you know how much savings there are when the year is not even 1/3 complete?
SFace saysI'm sorry, the tax cut is effective for tax year beginning 1.1.18, which means 2018 taxes are filed and paid in 2019. How would you know how much savings there are when the year is not even 1/3 complete?
Because the outline of the plan, along with tax rates have been published. There are numerous online calculators available that will tell you your approximate tax liability under the new plan.
You should use that Smartphone for something useful, instead of just looking up sports scores.
If middle class is 100k, than every government employee here is upper class dude, because they all make way more. In CA, 100k is not bad, but in a city that won't go far. It's an expensive state. I know I've done well last few years for myself. In Indiana 100k is great, in CA that's not much.
FortWayne saysIf middle class is 100k, than every government employee here is upper class dude, because they all make way more. In CA, 100k is not bad, but in a city that won't go far. It's an expensive state. I know I've done well last few years for myself. In Indiana 100k is great, in CA that's not much.
I get what you're saying, but median is middle. $58k is what the middle family makes. I get people make different amounts in different places, but $100k is technically not middle class, it's middle upper class. You saying you're middle class AND pay AMT seems a little tone deaf to me.
I don't know your guys income. But just make up a scenario at least to show me how you're saving high 4 figures and some saying 5 figures. If these calculators are readily available this should be pretty short work. I'll be honest, I doubt the claims, but am open to seeing some data. I'll eat ...
Cause the calculator said so. Lmfao
SFace saysCause the calculator said so. Lmfao
I'm going to give the benefit of the doubt here. I have no problem being proven wrong, honestly. I just don't know any scenario where someone making $200k in 2017 is going to save $10k in federal taxes in 2018 all thing being equal, besides the new tax law. This is my income range and have done my own taxes for 15 years. I'm interested in these calculators or some data to back the claims up is all. .
The tax cuts are well documented, the median person gets 1800 or so.
But claiming 10k in savings say 200k in income is effectively a 5% effective tax rate cut. We know that only applies if all the stars are aligned
I have no problem being proven wrong, honestly.
It's 4% difference on $200K between tax rates 2017 versus 2018, before tweaking:
Even better with MFJ (second column).
I wonder where those two guys ran away too?????
I wonder where those two guys ran away too?????
I'm here. I still haven't heard an explanation of how you yourself are going to save $8-10k or FW
a tax cut that understands that 2 people = income x2, not income x1.2 and penalize you for making more than that
Even better with MFJ
I'm here. I still haven't heard an explanation of how you yourself are going to save $8-10k or FW. Plug the numbers in on your own chart and the best you can do math wise with $200k income is a $6,300 savings with everything else excluded
I'm just fighting the numbers you guys are presenting.
This tax cut was totally intended to fuck blue states with high property taxes and income taxes.
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https://www.usatoday.com/story/opinion/2018/04/10/donald-trump-gop-tax-cuts-wont-deliver-big-raise-column/471188002/
In selling you their trickle-down tax plan, President Trump and congressional Republicans promised you a $4,000 pay raise.
"This change, along with a lower business tax rate, would likely give the typical American household around a $4,000 pay raise," Trump said in October.
“At least $4,000,” House Speaker Paul Ryan emphasized in a post on his official website.
So now that rich people like me have gotten our billions of dollars in tax cuts, you might be wondering where your $4,000 raise is.
Spoiler alert: You’re not getting one.