Topic: THE TRUMP TAX CUT. WHO BENEFITED?
Toodygirl5's photo
Fri 01/11/19 03:20 PM
Some people are saying Trump sent troops to the border for security of the Nation. Famiies didn't have their love ones to spend be the holidays with.
ABC news today reports


Listen up, when you join the MILITARY , you may not be home for the holidays!

Trump's not the blame for everything people .

no photo
Thu 01/31/19 02:45 PM
It’s official: The Trump tax cuts were a bust

"Lower taxes helped goose profits and stocks but did little for jobs or the economy".

http://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30?fbclid=IwAR0KOM-pL4393wGFQLtusiYaZeq6CG66yZg9IQUw5Zy3IQuJ1fOTe9Bo9x4

no photo
Fri 02/08/19 06:26 PM
Trump and the GOP Tax Plan Screwed Middle-Class Parents Out of a Refund

"I am a father of two in a dual-earner household, sitting smack-dab in the middle of the middle-class. It’s February and I am terrified to do my 2018 taxes. It’s not because taxes are hard. It’s not because I’m seeing middle-class Trump supporters become apoplectic on Twitter as they calculate their tax bill. It’s because for the last three years I’ve been a remote worker itemizing my tax returns and, in 2017, House Republicans and President Trump stripped me of crucial deductions. So I hesitate to file. Because I know it’s going to be bad and I don’t want to find out just how bad".

http://www.fatherly.com/love-money/trump-gop-tax-plan-middle-class-parents-refund/


no photo
Sat 02/09/19 10:40 AM
Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter

"Average tax refunds were down last week 8.4 percent for the first week of the tax season over the same time last year, according to the Internal Revenue Service. Dipping refunds are inflaming a growing army of taxpayers stunned by the consequences of the Trump administration’s tax law — and the effects of the partial government shutdown.

The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.

The IRS had estimated it would issue about 2.3 percent fewer refunds this year as a result of the changes in the federal tax law, according to Bloomberg. MSNBC reports that 30 million Americans will owe the IRS money this year — 3 million more than before Trump’s tax law".

http://www.yahoo.com/news/average-tax-refunds-down-8-054836423.html

no photo
Sat 02/09/19 01:50 PM

Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter

"Average tax refunds were down last week 8.4 percent for the first week of the tax season over the same time last year, according to the Internal Revenue Service. Dipping refunds are inflaming a growing army of taxpayers stunned by the consequences of the Trump administration’s tax law — and the effects of the partial government shutdown.

The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.

The IRS had estimated it would issue about 2.3 percent fewer refunds this year as a result of the changes in the federal tax law, according to Bloomberg. MSNBC reports that 30 million Americans will owe the IRS money this year — 3 million more than before Trump’s tax law".

http://www.yahoo.com/news/average-tax-refunds-down-8-054836423.html


It's hard for me to believe that some people didn't see this coming almost 3 years ago. This is what tax breaks for the upper 1% get us.

no photo
Mon 02/11/19 02:46 PM
Trump’s ‘tax scam’: Some taxpayers get unwelcome surprise after filing returns

"Tax season has just begun and some Americans have already filed their taxes for 2018. And while many people generally expect a hefty refund, several have found themselves with a surprise tax bill from the IRS".

http://www.yahoo.com/finance/news/trumps-tax-scam-some-taxpayers-get-unwelcome-surprise-after-filing-returns-201206749.html

We all are going to take a screwing. I just hope the Trump supporters are especially enjoying theirs.






no photo
Mon 02/11/19 11:09 PM
So they didn't check their withholdings.

Blame Trump for their shortsightedness.

It's normal, and democrat-like. Blame somebody else for their error.

msharmony's photo
Mon 02/11/19 11:26 PM
Edited by msharmony on Mon 02/11/19 11:27 PM
Im not a patriot, yet I do appreciate the USA enough not to gripe about taxes. Its a part of the constitutional structure to help 'support' the American 'greatness', so many 'patriots' always go on about when they get up in arms about kneeling during an anthem or wearing a lapel at certain events.

If I go in someplace great, I dont mind an expectation of a cover charge. The greater that place (in society) the greater a cover charge Id be willing to pay.


but i guess Im weirdly 'unpatriotic' that way.

no photo
Sat 02/16/19 11:24 PM
Edited by Charles1962150 on Sat 02/16/19 11:25 PM
Tax Refund Fiasco Is Political Payback For Republicans

"Republicans boasted all last year that their new tax law boosted paychecks and showered bonuses on several million workers.

But now that tax season is upon us, several million Americans are getting a nasty surprise: a bill from the Internal Revenue Service that they never expected".

http://www.yahoo.com/huffpost/tax-refund-fiasco-political-payback-211142283.html


Argo's photo
Sun 02/17/19 12:00 AM
the *rubes still haven't figured out the pea isn't under
any of the three shells...the con-man slipped it in his
drop pocket, but they keep playin' anyway...

no photo
Sun 02/17/19 02:16 AM
The thing that makes me laugh, The bate and switch that Trump pulled on many of his base. I remember many of the people who were posting on my first "Today in Trumpland" thread bragging about how much more money they gained on their paychecks and how some got bonus checks. They are paying for it now. Trump giveth. And Trump taketh away. For many, Trump taketh more than he giveth. Made fools of many of his base. Got them hook line and sinker.

T.Roy 's photo
Tue 02/19/19 11:46 AM


who benefited?


Only every person in America.

msharmony's photo
Tue 02/19/19 12:49 PM

the *rubes still haven't figured out the pea isn't under
any of the three shells...the con-man slipped it in his
drop pocket, but they keep playin' anyway...


you are funny. Agree or disagree, I wont tire of your independent thoughts and how you deliver them so concisely ... to YOUR longevitydrinker

Argo's photo
Tue 02/19/19 01:05 PM


the *rubes still haven't figured out the pea isn't under
any of the three shells...the con-man slipped it in his
drop pocket, but they keep playin' anyway...


you are funny. Agree or disagree, I wont tire of your independent thoughts and how you deliver them so concisely ... to YOUR longevitydrinker

happy drinker

oldkid46's photo
Tue 02/19/19 01:12 PM

It’s official: The Trump tax cuts were a bust

"Lower taxes helped goose profits and stocks but did little for jobs or the economy".

http://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30?fbclid=IwAR0KOM-pL4393wGFQLtusiYaZeq6CG66yZg9IQUw5Zy3IQuJ1fOTe9Bo9x4
Personal opinion of some writer; only official in his mind!!

msharmony's photo
Tue 02/19/19 01:15 PM
I think with taxes, most things are personal opinions and perspectives, with the exception of actual accountants with specific taxes.


oldkid46's photo
Tue 02/19/19 01:26 PM
Charles, so far you have twisted the facts on the tax act to ridicule the Trump administration and mislead the public!!!! You need to provide some concrete FACTS to support your slander!! I defy you to find several actual tax returns from different parts of the country with approximately the same income for 2017 and 2018 showing a substantial increase in taxes for those in the middle class. What you will find is that Federal taxes did go up for people living in high local tax areas because of the deduction cap. They are not able to deduct all their state/local taxes from their federal income. That is very good; many of us were tired of subsidizing your local tax and spend liberals who weren't held accountable because of the federal deduction. The chickens are coming home to roost and people with the high incomes are fleeing to greener, tax friendly pastures. Mass migration of big buck people from New York and New Jersey to Florida. I95 south traffic must be growing.

msharmony's photo
Tue 02/19/19 01:31 PM
Edited by msharmony on Tue 02/19/19 01:32 PM
For debate sake, I don't think finding or posting individual tax returns can accurately reflect an OVERALL impact, only the impact on those selected individuals. People have different opinions about taxes, many base it on their individual experience, and others look at trends and averages and base it on that instead.

Not to mention, I dont know where someone would get copies of others random returns or have permission to post them here.



oldkid46's photo
Tue 02/19/19 02:44 PM

For debate sake, I don't think finding or posting individual tax returns can accurately reflect an OVERALL impact, only the impact on those selected individuals. People have different opinions about taxes, many base it on their individual experience, and others look at trends and averages and base it on that instead.

Not to mention, I dont know where someone would get copies of others random returns or have permission to post them here.



That is very true but the places that do many tax returns will have average statistics and statistics by income level and region. Suggesting that taxes went up because people are getting smaller refunds without the data on their withholding and comparing both to the previous year is totally misleading and done for the purpose of scoring political points. I want to see facts to support the accusations of increased taxes and blaming it on the tax bill that was enacted. It is equivalent to saying your taxes increased when in fact you no longer had children at home or you paid off your mortgage!! Yes, the amount of taxes you had to pay increased but not because the government raised your tax rates!!!

no photo
Tue 02/19/19 04:51 PM



who benefited?


Only every person in America.


The Trump Tax Cuts Will Help Stockholders, But Hurt Most Americans

"The 2017 U.S. tax reform became law just over a year ago, but its effects on economic performance, public finances, and individual households are still being debated".

http://www.barrons.com/articles/the-economic-impact-of-the-trump-tax-cuts-51547038800

Did a Tax Increase Tucked Into Trump’s Tax Cut Come Back to Bite Republicans?

"The state and local tax deduction being capped at $10,000 hurt a lot of people in our district and our state,” Mike Levin, a Democrat who won an open seat that was previously held by Mr. Issa, said in an interview shortly before the election".


http://www.nytimes.com/2018/11/19/us/politics/trump-tax-cut-republican.html



Trump wants to cut middle-class taxes. The easiest solution? Repeal tariffs

"As the Trump administration explores ways to deliver a new middle-class tax cut, the most obvious answer is to repeal the administration’s newly imposed tariffs. Tariffs tax middle-class American families and threaten to undermine the economic growth generated from the new tax reform law".

Not even a month after signing the nation’s first major tax reform bill in more than 31 years, the Trump administration began imposing tariffs on American imports. So far this year, the administration has imposed tariffs on steel, aluminum, washing machines, and thousands of products that American businesses and consumers buy from China.

President Trump argues that these tariffs are paid by China and overseas companies, but it’s American families who bear the real cost.
These tariffs increase taxes on the middle class as they increase costs for U.S. businesses. The steel needed to produce a U.S. car is more expensive, driving up the total costs of production, for example.

http://www.washingtonexaminer.com/opinion/trump-wants-to-cut-middle-class-taxes-the-easiest-solution-repeal-tariffs