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People in many states may see their taxes go up. Those in Minnesota, Ohio, Iowa, and the entire north east depending on location and local property tax rates. I don't like the change it hits people who are just in the upper-middle class hard. They make enough to get taxed hard but not enough to afford tax shelters and fancy accountants like the actual rich. Seems like the wrong target to me.
Yep that’s us, upper middle income, we got screwed.
I always find it amazing how selfish the average American taxpayer is.
All this talk about whether a person got more or less back.....from Deficit which their children and grandchildren will have to pay back..with interest.
In a sane society more posts would care about that - instead, the doubling of the yearly deficit to give (mostly) corporation a bit break...and a little to others...ends up being a contest as to who screwed future generations the most.
Another big deal which won't hit home for another year (when people figure it out) is that charitable deducts aren't deductible for the vast majority of Americans any longer. That is going to hurt charities.
"Donations to charity peaked in 2017, now they're in a downward spiral"
People wonder what is wrong with this country....then they say the direction is wrong. Then they celebrate that they helped break the bank and even the bank for their children.
Sorry, I'm scratching my head......
Also, those with income producing hobbies now have to declare all the income - BUT, they probably can't declare the expenses and costs. So instead of making a 30% profit, you now have to declare an infinite profit (100% of the revenue). That's not helpful to those whose hobbies might grow into a business.
Trump did put billions in breaks for Real Estate Investors tho....again, paid for by the rest of us.
Could someone tell me why all these people are just finding out their tax situation at the end of January? The information was available last year and there were simulators on the internet to find out how your specific situation would likely end up. GMAB, I have no sympathy for people who do not pay attention to their own crap, no matter which side of the aisle they land on. Besides who wants the Fed Gov to hang onto their money all year just to get a big tax return? The best situation is to get a small one or to pay a small amount.
Agreed. So many simple minded people complain that they got a smaller refund-but aren't bright enough to go look and see what their total tax payment was from one year to the next.
Multiple supporters of President Donald Trump over the past couple of weeks have taken to Twitter to air their grievances about the president’s signature tax cut plan. Here's one example.
I suspect there is going to be much more of this as more people realize how badly Trump and the GOP screwed the middle class.
I'm sorry about you, but we're just fine. And so are the throngs of middle class workers who no longer have to pay Obama's draconian health insurance mandate penalty.
1. No one screws the middle class like Dems.
2. Right on cue. Now's the time you'll be seeing all those disenchanted "Trump voters" lmao.
I actually benefited from the Tax reforms, got an extra 1000$ back on tax refund and gained an extra 200$ per month on my paycheck, so I'm overall pretty happy so far. I plan to pay the last few thousand off on my car note with my refund and have been putting the extra couple of hundred in savings for a family vacation this summer
Good, you're another one adding to the deficit, aka stealing from the Treasury, because of this criminal tax reform.
Quote:
Originally Posted by xray731
I live in NY - my Federal refund has increased quite a bit while my state refund is lower even tho I have extra taken out of each paycheck for state.
Sounds like you don't itemize and don't benefit from personal exemptions. The reform can work out if you're not paying high state and local taxes.
In the end, the taxpayer - that means all of YOU - have to pay this back.
Taxpayers do so all the time. Hard to believe you don't know that. Finally, those in high tax blue states will have to pay something somewhat closer to their fair share.
In other news, Trump's approval rating is up to 48% today.
On what? The fake news Rasmussen poll?
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