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No, he will not, Trump does not set the budget, congress does, he can only sign it or veto it. Although, the Republicans have been pushing for tax reductions for years, but not sure who's going to get them.
We've tried with several different tax filing sites, and still get the same result.
We only claim 0 though, we don't request additional taxes withheld. Maybe that's the problem (as a few others have mentioned).
That plus not having dependents, not owning a house, being out of college (with no student loans for either of us), etc -- that's what probably screwed us over.
We don't have kids either. We do own a house but the interest deductions are less than the standard deduction so we take that instead. I even consulted a tax professional one year just to make sure I'm doing it right and it was spot on. We don't get a huge refund but we do get one. It would be interesting to know what the differences are.
No, he will not, Trump does not set the budget, congress does, he can only sign it or veto it. Although, the Republicans have been pushing for tax reductions for years, but not sure who's going to get them.
The same old entities will get them, the rich and businesses. Now that the Congress has their Bill that adds TRILLIONS to the debt and that does not account for The Wall or moronic investigations to prove the Prez is popular means someone is going to pay, will not be anyone from the first two groups, and the poor have no money so I guess there is only one group left, yeup the Middle-Class. This is so much fun to watch, might as well enjoy the entertainment while it lasts.
Wow, very sobering thread It seems most of the people in this thread have been screwed/ripped off at least once by this government racket
Had a large tax bill last year so i definitely understand the feeling of injustice and can relate
One things for sure: THE TAXES ARE TOO F'N COMPLICATED
The other thing is, as Americans we don't get anything "in return" for all this extortion/theft.... THAT'S what really irks me and I'm sure I'm not alone in that sentiment Meanwhile other countries seem to have "something to show" and "get something" for their taxes (hi-tech cities, state-of-the-art public transit, up-to-date infrastructure, healthcare, etc)
Where does all our American tax/extortion money go anyways?? It certainly doesn't "show" in anything visible
I'm hopeful that Trump can either lower the taxes a little or at the very least "simplify" the damn forms
I'm skeptical on this issue though because unless cost-of-living stabilizes or goes down, any cut to taxes will simply get "cancelled out" by higher rents etc. Overall it's a messy economic situation the country is in, there's no easy solution.
AGAIN we somehow manage to OWE the IRS. This time $7000 in federal taxes despite us BOTH claiming 0 filing jointly (if we file separately, we'd owe $15K). THIS HAPPENED LAST YEAR. HOW IS THIS POSSIBLE. WHAT IS THIS PAYING FOR. Over a third of my income was EATEN ALIVE by taxes (including social security, etc -- which I'm never going to see anyway, so I consider it down the drain) as it is, AND THEY STILL WANT MORE.
So, when is Trump's plan going to be solidified and take into effect???
I guess this is what we get for not taking out mortgages (we want to buy a house IN FULL -- I hate debt) and for not popping out 15 kids (we want to have a house before we have a kid).
Mods, feel free to delete this if this is too rant-y.
I'm sorry, but I had to get this off my chest. Feel free to call me a whiner/snowflake/whatever, but I'm just wondering what the hell I'm paying for with the RIDICULOUS amount of taxes I have to pay. It's not like we get a ton of social benefits in return for the tax 'investment'.
I'm just so tired of this, and hope Trump will see our tax rates reduced.
You're going to pay taxes no matter who is president.
Giving 1/3 of your paycheck to the government is pretty much standard all over the world.
Cheer up. I remember when we all had to pay 50% - at least those of us who made enough money.
PS: You're looking for "social benefits"? What are you, a Democrat? You don't get any "social benefits". You get an opportunity to work and make a fine living. And for that, ya gotta pay.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,587,616 times
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Quote:
Originally Posted by scend57
Wow, very sobering thread It seems most of the people in this thread have been screwed/ripped off at least once by this government racket
Had a large tax bill last year so i definitely understand the feeling of injustice and can relate
One things for sure: THE TAXES ARE TOO F'N COMPLICATED
The other thing is, as Americans we don't get anything "in return" for all this extortion/theft.... THAT'S what really irks me and I'm sure I'm not alone in that sentiment Meanwhile other countries seem to have "something to show" and "get something" for their taxes (hi-tech cities, state-of-the-art public transit, up-to-date infrastructure, healthcare, etc)
Where does all our American tax/extortion money go anyways?? It certainly doesn't "show" in anything visible
I'm hopeful that Trump can either lower the taxes a little or at the very least "simplify" the damn forms
I'm skeptical on this issue though because unless cost-of-living stabilizes or goes down, any cut to taxes will simply get "cancelled out" by higher rents etc. Overall it's a messy economic situation the country is in, there's no easy solution.
All that money goes to our massive military. We have 5% of the worlds population, yet do 50% of its military spending
So here in NC I have seen the GOP tax cut. I now have nothing to deduct because there are no deductions. Just a lousy $2500 standard.
Now I pay just under 6%, however all taxes and fees (GOP for taxes) have gone up, some doubled. Those would be: real estate, property, sales tax, cell phone, internet, land line, gas, utility, and the labor cost on services. So I am now paying more then ever before and getting less from the state for those increased taxes.
You're going to pay taxes no matter who is president.
Giving 1/3 of your paycheck to the government is pretty much standard all over the world.
Cheer up. I remember when we all had to pay 50% - at least those of us who made enough money.
PS: You're looking for "social benefits"? What are you, a Democrat? You don't get any "social benefits". You get an opportunity to work and make a fine living. And for that, ya gotta pay.
This is false, "opportunity to work" is always there irrespective of any taxation or government. Taxes don't create jobs, they do quite the opposite.
If I recall correctly from history books, America had virtually no income taxes from the 1700's all the way up to the early 1900's and the country did just fine during that time period (prosperity) Income tax seems to be a fairly recent invention, at least in this country.
I'm hopeful for Trump tax cuts, but the cost-of-living issue is the REAL problem. If taxes goes down by 3%, but cost-of-living goes up 10%, well....
AGAIN we somehow manage to OWE the IRS. This time $7000 in federal taxes despite us BOTH claiming 0 filing jointly (if we file separately, we'd owe $15K). THIS HAPPENED LAST YEAR. HOW IS THIS POSSIBLE. WHAT IS THIS PAYING FOR. Over a third of my income was EATEN ALIVE by taxes (including social security, etc -- which I'm never going to see anyway, so I consider it down the drain) as it is, AND THEY STILL WANT MORE.
So, when is Trump's plan going to be solidified and take into effect???
I guess this is what we get for not taking out mortgages (we want to buy a house IN FULL -- I hate debt) and for not popping out 15 kids (we want to have a house before we have a kid).
Mods, feel free to delete this if this is too rant-y.
I'm sorry, but I had to get this off my chest. Feel free to call me a whiner/snowflake/whatever, but I'm just wondering what the hell I'm paying for with the RIDICULOUS amount of taxes I have to pay. It's not like we get a ton of social benefits in return for the tax 'investment'.
I'm just so tired of this, and hope Trump will see our tax rates reduced.
You are lucky. You are wealthy.
But since you are wealthy, you should have known how to manage your money to decrease taxes. There are a lot of things that can be done, not the least of which is to have interest payments on a mortgage. Your hefty property taxes are tax deductible, also. So are charitable donations.
If you are paying 33% in income taxes, that means you and your spouse have an income of, what, $400,000 or more? 33% isn't that much for someone with that kind of income.
Think of the person who earns $12,000 and has to pay 10%. 10% of income, NONE of which is expendable income, is a pretty high rate. 33% in income taxes for two people for whom over 50% of their income is expendable is pretty fair. It is also low for our country, historically. It used to be much higher.
You sound a bit like Leona Helmsley. "Only the little people pay taxes."
That 33% is to pay for your share of all the services that enabled you to earn that $400,000 and live a decent life, and pay for the govt that keeps the country safe, protected, functioning, and of course to provide a safety net for those who are vulnerable and at the bottom (which I'm sure you object to).
The biggest share of that 33% goes for the military.
The answer is yes....your man is going to give you a HUGE tax cut, while possibly raising taxes for that person who makes $12,000. Some would think that's not right, but somehow I think you'll be just fine with that.
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It seems most of the people in this thread have been screwed/ripped off at least once by this government racket 
Meanwhile other countries seem to have "something to show" and "get something" for their taxes (hi-tech cities, state-of-the-art public transit, up-to-date infrastructure, healthcare, etc)
