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You are STILL clinging to the irrelevant tax rate.
You yourself brought up the tax rate.
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You have bought a lie, which mandates that any reduction in rate is always a cut, even when you end up paying more to the IRS.
Which is less? 12% of $100,000? Or 10% of $100,000? It's simple math. That fact seems to escape you.
Additionally, I fully agree with the article that 6% of taxpayers had their effective federal income tax rate increase. So, quantify that. How many taxpayers actually had an increase in their effective federal income tax rate due solely to the new tax law?
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I do not care what my rate is, I only care about how much I owe the IRS.
Thanks Trump for the booming economy with essentially full employment.
I guess you didn't read the article.
Here is the first part:
Despite the majority of Americans receiving a tax cut, the IRS pulled in an additional $93 billion for 2018 from taxpayers on individual income taxes than it did for 2017, according to new data from the IRS. This is in part thanks to the Treasury Department processing 1.5% more individual returns for 2018 than 2017.
Anyone with TDS does not read the actual article, they just jump at the chance to post a headline or fake narrative.
Another thing people are forgetting is that state taxes are no longer written off. That was a long time coming because if people choose to live in places where they have high local taxes, the rest of us should not be expected to compensate for it.
Anyone with TDS does not read the actual article, they just jump at the chance to post a headline or fake narrative. Another thing people are forgetting is that state taxes are no longer written off. That was a long time coming because if people choose to live in places where they have high local taxes, the rest of us should not be expected to compensate for it.
SALT over $10,000 is no longer a deduction. But, yeah, that ^, 100%.
Which is less? 12% of $100,000? Or 10% of $100,000? It's simple math. That fact seems to escape you.
Additionally, I fully agree with the article that 6% of taxpayers had their effective federal income tax rate increase. So, quantify that. How many taxpayers actually had an increase in their effective federal income tax rate due solely to the new tax law?
Well, that's a choice, albeit a foolish one.
No, you brought it up, and never let go. Even now you still think it is the only thing that matters.
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Originally Posted by InformedConsent
Only 6% of taxpayers had an increase in their effective federal income tax rate due to the new tax law.
And the rest of your comment proves you STILL don't get it, and probably never will. The rate is only one ingredient which determines how much you will owe.
I can only speculate that they don't understand taxes.
They received less of a refund but paid less taxes. They believe taxes are based upon the refund, for overpaying, and not what they actually paid.
Ignorance.
That is another thing that drives me crazy. They can overpay or not have their deductions set up correctly, then claim the government gave them something. In reality it was their own money to begin with, but that concept is alien to them.
I remember a guy who purposely set up his deductions to where he "was guaranteed a big refund" every year.
When I asked him why, he said that way he wouldn't spend it during the year, so it was like a savings bonus every year.
When I explained he could take that extra portion every paycheck and put it into savings, thereby earning interest (or some other means of making money with his money), he felt he didn't have the discipline to do that.
As he put it, whenever he had money, it would burn a hole in his pocket.
It is no wonder why some people want the government to "take care of them".
Government spending is one of the lowest in the developed world though. Cutting it further just means even more misery for the elderly, the poor, the sick and the disabled. Because the military will not get those cuts and everyone knows it. It will be the people without power and a seat at the big boy table who will be punished.
People born disabled who cant work get at most $700 a month to survive on. This is appalling in this society. There is no room for cuts there. It should be at least tripled.
When the next major war comes, and it will, it will be manned by the youngest and most disadvantaged of our young men.
These young men will be disproportionately poor because that's who gets stuck with infantry MOS's.
Through no fault of their own, they will be obligated to go in harm's way for a country that has traditionally been less appreciative of their presence in the society and their service to it than seems appropriate.
In fact, when it comes time to cut spending, the first thing mentioned by liberals is always the military.
Military expenses include service member pay that starts at $1554.00 per month (before taxes).
It also includes all the equipment that they will depend on to defeat an enemy that is trying to kill them.
Better pay, equipment and training won't prevent war casualties, but we can, at the very least, attempt to show our gratitude to these young men in a more meaningful way than simply regurgitation the stiff and ritualized "Thank you for your service!" while slashing the military's budget.
Thanks again for showing us how great this Trump economy is doing. Unemployment is down, people are working, tax collection is up which means more going into Medicare and SS funding also.
You being a Democrat, I know you'll be happy that the upper level rich are paying slightly more in taxes while the average working Joe / Jane are getting more back.
Since no Democrat candidate even talks about the Economy and Jobs, I'm sure Trump will get your vote next year.
Right ?
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