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The tax cut worked brilliantly to tax rich blue states that previously allowed them to deduct their state services which is creating a more fair environment for the red states and we are seeing great results from that. That additional payment made by blue states residents is working like a charm.
Lower TAX RATES create economic expansion which generates MORE TAX REVENUE. Trump's policies are working, yet those that are ignorant of Economics, Business, and Finance are CLUELESS. But, take another Gender and Minorities Study course. That will help!
Nice theory, but that's not where the a lot of the tax break money is going. CEO pay, stock buy back.....half a trillion.
Thats what the GOP always say after they've blown up the debt. So yes, be prepared for deep cuts in Social Security and Medicare to pay for the tax break for the ruling donor class.
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.
And that is what the MSM pushed in their faces....your refund is smaller therefore you paid more taxes.
Smart people figure out what their withholding should be so they don't give the government a "free loan" for a year.
And with the revamp of all the forms I read that many didn't bother changing their withholding.
So rather than educate people on the tax changes the MSM did what they did and the gullible fell for it hook, line and sinker. They didn't even notice that their own paychecks were bigger last year.
Their refunds were smaller because they received their tax cut via their paycheck, not via bigger refunds.
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.
Learn the lesson.
The revenue brought in will tell you how much we should be taxed.
Tax revenue have increased from tax cuts - because the pool of tax payers has increased. We should keep cutting taxes. At some point, tax revenues will decrease. That's when you will know exactly how much we should be taxed.
If you are interested in peak revenue - play with the rates until it is maximized. Stop using the tax code for social justice (penalizing the rich, helping the poor). That's not its purpose.
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