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Old 02-12-2019, 10:31 PM
 
29,821 posts, read 11,392,344 times
Reputation: 18339

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Quote:
Originally Posted by craigiri View Post
Question remains. Was IKE "bad" for having a 90% rate?

Your figures are off a bit, but....my guess is people think 70% is "bad", so what's the diff?

https://www.taxpolicycenter.org/stat...come-tax-rates

1963 = 91%

70% under Nixon and friends.

I don't remember people complaining....because no one paid it.

ANother way to put it is that rates are currently among the lowest they have been in 80 years. And, we are not paying the bills. What is wrong with this picture?

What is wrong with the picture is we are spending more than we are taking in. We need to drastically cut spending.
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Old 02-12-2019, 10:32 PM
 
Location: NE Mississippi
25,339 posts, read 16,977,494 times
Reputation: 36920
Quote:
Originally Posted by StuartGotts View Post
Just finished my tax returns...

I made more money, paid more in taxes and am getting back 1/3 the amount I got last year!

SOOOOOO HAAAPPPPY your rich 1% buddies got a tax break, they REEEAAAALLY need it.

Congrats however, now I know I'm voting for ANYONE but Trump.
Another yo-yo who measures his taxes by what he got back.
Ignorance revealed.
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Old 02-12-2019, 10:45 PM
 
11,337 posts, read 10,971,680 times
Reputation: 14993
Quote:
Originally Posted by Eli34 View Post
If you have children or grandchildren, you can thank them because they will be paying off the debt burden as a result of these tax cuts. Enjoy your new flat screen tv or whatever junk your're gonna waste your return on.
I will. Maybe we’ll be so flat broke we won’t be able to afford the green new deal or giving free education to illegal aliens or stealing from people in the name of equality. Maybe cut the size and scope of the State if you are so concerned with the cheeeeeeldren.
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Old 02-12-2019, 10:54 PM
 
11,337 posts, read 10,971,680 times
Reputation: 14993
Quote:
Originally Posted by craigiri View Post
So the fact that this cut blew up the Deficit for the far-flung future..and doubled it almost instantly.....doesn't figure in?

The money was borrowed. From your children and grandchildren since I can tell by your tone that you have no intention of trying to pay it back.

Justice, a strange word to use. Let's use "fiscal prudence". If the economy handed to you is booming the deficit coming down quickly, a responsible person does not go borrow more money just to give tax cuts to corporations.

I really doubt Buffet was fibbing when he said he didn't need it. Business was not clamoring for it, although they certainly aren't going to turn it down.

It was simply the "Santa Claus" theory at work....the PR of giving gifts out of Other People's Money.

If it were fiscally prudent then we would know because tax revenues would skyrocket and the deficit would come down.
It is postively scary that you would equate giving a company back its own money that it earned and owns in the first place as equivalent to paying it off with “other people’s money”. It’s their effing money in the first place! It’s the “other people” that stole it. They are just getting some of it back.

And paying the same corporate rate as most other nations. It’s 19% in the UK. 26% in Canada, 22% in Sweden, 25% in Spain for Christ’s sake.

US corporation tax rates are now on par with the socialist paradises of Europe. Why aren’t you happy?
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Old 02-12-2019, 11:14 PM
 
1,440 posts, read 1,332,121 times
Reputation: 1597
Quote:
Originally Posted by Mathguy View Post
We're getting swarmed with anecdotal reports where people leave out key information and are generally just citing the amount of their RETURN and not that they got more in their paycheck during the year.

THat being said, it has already been widely reported that there would be some doing better and some worse so that is not a debatable issue.

But we have people trying to portray it that everyone got an increase except the fat cats which is dishonest. Clearly is a range of those impacted with people with higher incomes with high state tax and property taxes being the most impacted.
Exactly!!! I’ve been reading a ton of complaints because tax return checks are lower but nobody mentions their take home pay went up. I just did our taxes today. We took home over $300 more each month last year and our return was $500 more. We paid over 6k LESS in taxes last year making about the same as the year before. I’ll be adjusting our withholding so I’m not giving the government an interest free loan this year.
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Old 02-12-2019, 11:24 PM
 
Location: The 719
17,883 posts, read 27,274,926 times
Reputation: 17132
Quote:
Originally Posted by rebeldor View Post
Do you even know how tax refunds work?

The government stole less of your money, so there's less of an overcharge.
Hey, long time no see.

I paid enough taxes this last year again, so I can get some money back instead of owing the pos irs.

Not the best way to invest I'll agree, but I'm not disciplined to just fork over thousands of dollars to the pos irs all at once.

But I don't go spending those tax returns before they're hatched. In fact, we usually use that money for home improvement.

As bad as taxes suck, at least a few of us such as myself do pay those taxes, or some of y'all will starve or withdraw or do what y'all do.
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Old 02-12-2019, 11:37 PM
 
1,440 posts, read 1,332,121 times
Reputation: 1597
Quote:
Originally Posted by Marc Paolella View Post
I am fine with a user fee for roads and infrastructure. EZ Pass technology can take care of that. Or I am fine with a voluntary tax.

Same with police, sewers, fire, courts, etc. I am fine with paying for essential services using a fair methodology based on usage. Or even voluntary taxation. My local police and fire protection can submit the budget, and if I agree to be protected, I pay my share of the price. If I don’t pay, I get a bill and a lien based on their costs when they have to save my a$$. Which is going to be way more expensive than paying the voluntary tax.

What I am not fine with is taking my money against my will and handing it over to people who make bad decisions. Like people who choose to do drugs, or get pregnant with children they cannot afford. Or public schools. Or libraries. Or parks. All of those things are nonessential and can be provided by the free market, with people voluntarily paying for their construction and operation.

Meanwhile, we do not have that system. So if Trump gives me a tax bill that has great deductions for doing business, then I plan to take full advantage and apologize to no one.

And it’s not “you got yours, screw everyone else”. It’s: “I EARNED MINE, and if you want some of it, you have to ASK”.
My issue is having my tax dollars pay for stupid crap like studying the sex life of goldfish
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Old 02-12-2019, 11:38 PM
 
10,226 posts, read 7,492,783 times
Reputation: 23155
Quote:
Originally Posted by StuartGotts View Post
Just finished my tax returns...

I made more money, paid more in taxes and am getting back 1/3 the amount I got last year!

SOOOOOO HAAAPPPPY your rich 1% buddies got a tax break, they REEEAAAALLY need it.

Congrats however, now I know I'm voting for ANYONE but Trump.
What you get back isn't what matters, since your deduction amount in your check changed. But the total amount or percentage of your adjusted gross matters. You say you paid more. I have no doubt. People didn't seem to believe it when people reported that one of the standard deductions was taken away. The other one was raised, but not enough to make up for the one that was removed. And other things that would affect non-wealthy people. Something about a daycare deduction or exemption was raised for the wealthy...and decreased the less money you made (it was changed to a percentage of income or something). Increasing taxes for those at the bottom.

But hey, aren't you happy in your heart that Trump saved $30 Million on taxes for 2018? That's all that matters.
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Old 02-12-2019, 11:53 PM
 
1,440 posts, read 1,332,121 times
Reputation: 1597
Quote:
Originally Posted by 2sleepy View Post
Deserve to be poor? Some people use withholding so that they can save for a big purchase without being tempted to spend the money on things they don't need as badly. It's part of being poor, something which I am sure none of the millionaires who post on CD know anything about
They could have a portion of their paycheck automatically deposited into a savings account vs giving it to the government. Then use self restraint to not touch it (change bad behaviors by spending on wants vs needs) and use it on needs as they occur. That’s what I do anyway. They could also read and follow Dave Ramsey to get themselves out of debt and build wealth. Although I don’t agree with his investment strategy, he’s great with debt reduction.
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Old 02-12-2019, 11:53 PM
 
Location: NYC
5,174 posts, read 4,626,017 times
Reputation: 7918
Living in a high tax blue state, my taxes did go up because we lost SALT deductions. And for those of you who thinks we deserve this because of where we live, just wait til the shoe is on the other foot. The only thing I learned from Trump is to have no compassion for Americans who don't think like me.
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