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Old 01-12-2018, 09:27 PM
 
Location: Phoenix
29,883 posts, read 18,721,597 times
Reputation: 25849

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Quote:
Originally Posted by jackwinkelman View Post
According to CNN Money and CBS Boston

90% Of Workers Likely To See More Money In Paycheck Next Month « CBS Boston

I thought the tax cuts were only for the rich?
Since the media and Demonic Rats lied to the public about this tax cut, I wonder how many will realize they were duped?

Anyway, I know I have liberal family that thought they were going to have to cough up more only to find out that they are getting more in their paycheck (even if they don't want it)
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Old 01-13-2018, 01:59 AM
 
Location: Middle of the valley
48,360 posts, read 34,485,139 times
Reputation: 73396
I've never seen so many happy for saving an average of 60 bucks.

Perhaps we are worse off than I thought.

Enjoy!
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Old 01-13-2018, 02:19 AM
 
Location: New Orleans, La. USA
6,354 posts, read 3,635,388 times
Reputation: 2522
Quote:
Originally Posted by jackwinkelman View Post
According to CNN Money and CBS Boston

90% Of Workers Likely To See More Money In Paycheck Next Month « CBS Boston

I thought the tax cuts were only for the rich?
Trumps tax cuts do the following,

Raise workers income by 0.8%
Raise middle class Americans income by 1.5%
Raise the richest 1% of Americans income by 13.5%
And raise the richest 0.1% of Americans income by 14.2%
https://www.forbes.com/sites/janetno.../#3ec53ec265b9

And Trump's tax cuts will also cause the following effects,

They will cause cuts to Social Security and Medicare.
Republicans Will Cut Social Security and Medicare After Tax Plan Passes, Says Marco Rubio

They will cut over $1 trillion dollars in government assistance to needy Americans.
Trump budget cuts spending by $3.6 trillion over 10 years, with deep cuts to safety net - Chicago Tribune

They will reduce veterans benefits.
https://www.americanprogress.org/iss...ying-veterans/
https://www.rawstory.com/2017/12/tru...-care-of-them/
https://www.military.com/daily-news/...bled-vets.html

They will cause cuts to education.
https://www.npr.org/sections/ed/2017...s-to-education

They will cause cuts to science and medical research.
https://www.washingtonpost.com/news/...=.2ffaa877df8f

And they will add over $2 trillion dollars to our national debt.
Trump and GOP Tax Cut Could Cost Your Kids $2.2 Trillion | Time

Is a 0.8%-1.5% increase in income for regular Americans worth all the budget cuts and extra debt above?
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Old 01-13-2018, 02:28 AM
 
21,431 posts, read 7,385,276 times
Reputation: 13233
Quote:
Originally Posted by jackwinkelman View Post
According to CNN Money and CBS Boston

90% Of Workers Likely To See More Money In Paycheck Next Month « CBS Boston

I thought the tax cuts were only for the rich?
My increase was eaten up by health insurance premiums, so nothing here to spend.
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Old 01-13-2018, 02:58 AM
 
Location: In the desert
4,049 posts, read 2,729,475 times
Reputation: 2483
I heard they are rushing this through so people start getting more in their paychecks but, they are doing this at the same time tax returns are beginning so it is a scramble and it may make more people have to pay more next year on their tax returns because of mistakes. Anyone else hear this?
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Old 01-13-2018, 03:18 AM
 
31,655 posts, read 26,539,292 times
Reputation: 24482
Quote:
Originally Posted by sindey View Post
I heard they are rushing this through so people start getting more in their paychecks but, they are doing this at the same time tax returns are beginning so it is a scramble and it may make more people have to pay more next year on their tax returns because of mistakes. Anyone else hear this?


In a way yes, what you've been hearing/reading is true.


DT, GOP, Munchin et al want to get ahead of the negative PR over this tax reform by pushing out the "benefits" fast as possible to blunt the clubs democrats and others are using to beat them over head with. However much of this tax *reform* is a work in progress.


IRS is pushing out the new withholding tables ASAP to make the OP's title of this thread true; that is a majority of workers will start to see *some* sort of increase in their pay packets by February. What the IRS/Treasury Department have not fully worked out are new W-4 forms and or guidance about future withholding. Will enough tax be withheld from your paycheck? Good question. - Jan. 10, 2018


As one stated upthread many Americans over withhold (claiming more than one or whatever deduction on their W-4) because they like to get back a large refund and or don't want to be stuck with a bill come 15 April.


The amounts being withheld have now changed and will be reflected in the new tables; however these are all going off the old W-4 forms which may for many now contain inaccurate information. As such it is entirely possible someone who previously was over withholding (getting a refund) or juuuust right (owing nothing or very little), may now end up owing.
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Old 01-13-2018, 03:24 AM
 
Location: Forest bathing
3,191 posts, read 2,451,712 times
Reputation: 7245
After the Reagan tax cuts, we were told the same thing: expect a bigger paycheck. I was working in a local refinery making good money but didnt see much. Neither did my coworkers. What a joke.
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Old 01-13-2018, 03:53 AM
 
8,325 posts, read 4,302,393 times
Reputation: 11769
A working couple, that makes 65k a year will get about 20 bucks a month. That is pretty earth shattering. If they have 2 kids, they can all go to McDonald's on Donald once a month.
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Old 01-13-2018, 04:42 AM
 
11,911 posts, read 6,490,370 times
Reputation: 13877
But Pelosi reminded us that it's only crumbs.......

Oh, and thousands will die from the tax bill.....
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Old 01-13-2018, 05:40 AM
 
Location: On the Beach
4,139 posts, read 4,503,159 times
Reputation: 10317
Quote:
Originally Posted by parfleche View Post
The good news just keeps coming.I voted for the right person.Keep it coming Trump!
McDonalds and Chick-fil-La must be awfully excited.
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