How's that tax cut working out?

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Did the "tax cut" help or hurt you?

  • Tax Rate Went Up - Income $0-50K

    Votes: 6 10.5%
  • Tax Rate Went Up - Income $51-100K

    Votes: 5 8.8%
  • Tax Rate Went Up - Income $101-200K

    Votes: 9 15.8%
  • Tax Rate Went Up - Income $200K+

    Votes: 6 10.5%
  • Tax Rate Went Down - Income $0-50K

    Votes: 2 3.5%
  • Tax Rate Went Down - Income $51-100K

    Votes: 7 12.3%
  • Tax Rate Went Down - Income $101-200K

    Votes: 13 22.8%
  • Tax Rate Went Down - Income $200K+

    Votes: 9 15.8%

  • Total voters
    57

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#51
They're singing Hallelujah! in every Board Room & Country Club in America.

Expect the usual trickle down effect. Any day now.
 

Dulanic

Diamond Member
Oct 27, 2000
9,445
9
101
#52
They're singing Hallelujah! in every Board Room & Country Club in America.

Expect the usual trickle down effect. Any day now.
Pretty much, company I work for has record profits this year. It wont go to the employees, that's pretty much guaranteed.
 

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#53
Pretty much, company I work for has record profits this year. It wont go to the employees, that's pretty much guaranteed.
Yeh, but the guys at the top will have more capital to automate, right size, relocate, streamline, consolidate & offshore more Americans out of their livelihoods. It's Capitalism being perfected.
 
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MtnMan

Golden Member
Jul 27, 2004
1,887
17
106
#54
If anyone thought the tax cut was for the average working man, you are a complete idiot.
 

lsd

Golden Member
Sep 26, 2000
1,153
3
81
#56
If anyone thought the tax cut was for the average working man, you are a complete idiot.
Yep my companies tax obligation was reduced around 40% or so. Meanwhile our union has been in contract negotiations for almost 7 years.
 

compcons

Golden Member
Oct 22, 2004
1,400
6
91
#57
Started taxes. The GOP sucks at finances. Fiscal conservatives can't continue to vote for these knuckleheads as they have clearly proven they are absolutely terrible at this stuff..
 

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#58
Started taxes. The GOP sucks at finances. Fiscal conservatives can't continue to vote for these knuckleheads as they have clearly proven they are absolutely terrible at this stuff..
They're not terrible at it. They're helping the true Bush constituency loot the Treasury who will, in turn, finance the GOP.
 
Jun 30, 2004
13,503
102
126
#59
This.

Republicans promised us tax reform, jnstead we got tax cuts for the rich donors. Hell they even admitted it.

Meanwhile, we still need the reform part, but it's clear that since Reagan Republicans have no idea what their f8scal responsibility slogan actuslly means.
Absolutely no disagreement about that.

There are many things they could look at more closely in a reform effort. But the basic idea of progressive tax rates merely deserves dusting off.

Another thing they need to do won't be popular here. They need to staff up the IRS after starving it since W. Bush. They need to beef up staffing for computer-selected tax return audits, and meet the requirements of the statistically-sampled and randomly-selected audits they always performed when America wasn't lower than crocodile piss and people didn't pay homage to a shameless tax-fraud and his grifter family.

They also need to continue and revamp Obama's initiative of going after offshore tax-cheats, and people like the Trump family.

Of course the idea of restoring corporate taxation to a more appropriate level, restoring the estate tax to whatever it was before Trump and making it more progressive, and other initiatives need to be pursued.

But first, we need to remove the tax-fraud lunatic from office. Between the Russians and his race-conscious Base, the motivations for all of Trump's agenda items are not legitimized. they are tainted. So we need to go back to square zero, repair the damage, and go forward from there.

In a nutshell, we need to make the federal level as lean as possible, then as competent as possible, and more EFFECTIVE than ever. That means more EFFECTIVE pursuit of everything from environmental regulation to education and weather prediction. The Trumpies, if they don't like it, can move to Antarctica where everything is white. The Drumpf family can build condo developments down there and sell them to Trumpies with pictures of palm trees and warm lagoons.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
59,602
177
126
#60
Had a total federal tax liability of $22,920 in 2017
Liability in 2018 was $21,583 on almost $5,000 more in gross income in 2018.

So yeah paid less, but at a cost of what over the next 20 years+ years. I'm just passing that on as inflation and more debt to my kids. Like Chuck Grassley said, most of that went to booze to soften the misery of everything else we are bombarded with daily from this clowncar administration.
 
Nov 3, 2000
10,933
34
126
#61
Had a total federal tax liability of $22,920 in 2017
Liability in 2018 was $21,583 on almost $5,000 more in gross income in 2018.

So yeah paid less, but at a cost of what over the next 20 years+ years. I'm just passing that on as inflation and more debt to my kids. Like Chuck Grassley said, most of that went to booze due to everything else we are bombarded with daily from this clowncar administration.
Just wait until the benefits to the working class stiffs dissipate. The corporate cuts are permanent of course. Guess who will be paying for those?

What happened to Trump's promise of middle-class tax cuts during the midterms?

Suckers.
 
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vi edit

Elite Member
Super Moderator
Oct 28, 1999
59,602
177
126
#62
Our paychecks went up about $200 total a payroll (26 checks a year) when tax plan kicked in. Refund was about $2,000 less than previous years with exemptions and withholding remaining the same between years. Our overall deductions dropped a bit due to lower claimed housing interest and around $3,000 less in child care.

So overall...eh. We make a good amount of money annually as a household. I got enough back for two really nice dinners a month or a modest car payment.
 

MtnMan

Golden Member
Jul 27, 2004
1,887
17
106
#63
Yeh, but the Libruhl tears are so worth it...
Pretty much the republican mantra..... fuck the little guy! Even thought most are the 'little guy'...
 
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glenn1

Elite Member
Sep 6, 2000
23,663
86
126
#67
Yes, Glenn, we know you're a sadistic internet troll.
Please tell me your tax bill went up because of SALT so I can laugh at you even harder.
 

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#68
Please tell me your tax bill went up because of SALT so I can laugh at you even harder.
At long last you reveal what your dishonest arguments have been about all along, political revenge.
 

glenn1

Elite Member
Sep 6, 2000
23,663
86
126
#69
At long last you reveal what your dishonest arguments have been about all along, political revenge.
LOL how do you take “revenge” against someone making well into 6 figures getting mad that their state tax bill is no longer being subsidized? BTW my tax bill is going up quite a bit (probably more than yours) because of the capped SALT deductions but I’m okay with that because I’m not hypocritical like you. Indeed SALT deductions should be done away with outright as they’re morally indefensible.
 

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#71
LOL how do you take “revenge” against someone making well into 6 figures getting mad that their state tax bill is no longer being subsidized? BTW my tax bill is going up quite a bit (probably more than yours) because of the capped SALT deductions but I’m okay with that because I’m not hypocritical like you. Indeed SALT deductions should be done away with outright as they’re morally indefensible.
How do you take revenge? You raise those folks' federal taxes. And if you were a member of the financial elite you idolize you'd be taking in millions more & paying millions less in taxes. That's who this whole tax flimflam benefits & few others to any appreciable degree.

Upper middle class people would be a lot more amenable to paying more if it could be shown that the people at the top pay more than they do. But they don't & they won't as long as the GOP has anything to say about it.
 

glenn1

Elite Member
Sep 6, 2000
23,663
86
126
#72
How do you take revenge? You raise those folks' federal taxes. And if you were a member of the financial elite you idolize you'd be taking in millions more & paying millions less in taxes. That's who this whole tax flimflam benefits & few others to any appreciable degree.

Upper middle class people would be a lot more amenable to paying more if it could be shown that the people at the top pay more than they do. But they don't & they won't as long as the GOP has anything to say about it.
Remember the old line about "be the change you want to see in the world"? You will need to accept that line needs to be adjusted to "you're the rich people you have been demanding to be taxed" and stop with the BS that you're just "upper middle class." You are wrongly thinking "rich" doesn't apply to you; there's not a bunch of plutocrats hiding behind trees in the suburbs of red states lighting Cuban cigars with $100 bills and conspiring ways to keep folks like you down. You my friend are the rich person you've been hating on for years.
 

Jhhnn

No Lifer
Nov 11, 1999
50,817
1,319
126
#73
Remember the old line about "be the change you want to see in the world"? You will need to accept that line needs to be adjusted to "you're the rich people you have been demanding to be taxed" and stop with the BS that you're just "upper middle class." You are wrongly thinking "rich" doesn't apply to you; there's not a bunch of plutocrats hiding behind trees in the suburbs of red states lighting Cuban cigars with $100 bills and conspiring ways to keep folks like you down. You my friend are the rich person you've been hating on for years.
You essentially deny that the gulf between even upper middle class incomes & the truly wealthy is enormous & growing by leaps & bounds. That's largely because of the favorable tax treatment the people at the tippy top have enjoyed for nearly 40 years.

For middle class families, taxes are a significant sacrifice for the common good. Paying <18% federal tax rate on $60M+/yr isn't much of a sacrifice at all. They don't even spend most of it. They hoard it. And they love the national debt, because they own it.
 

glenn1

Elite Member
Sep 6, 2000
23,663
86
126
#74
You essentially deny that the gulf between even upper middle class incomes & the truly wealthy is enormous & growing by leaps & bounds. That's largely because of the favorable tax treatment the people at the tippy top have enjoyed for nearly 40 years.

For middle class families, taxes are a significant sacrifice for the common good. Paying <18% federal tax rate on $60M+/yr isn't much of a sacrifice at all. They don't even spend most of it. They hoard it. And they love the national debt, because they own it.
TIL that folks living in cities where parking spaces sell for more than most Americans make in lifetime and where median monthly rents are more than 3 times what the average retired American receives in Social Security (and annually tallies nearly the entire median pretax income of average Americans who still need to buy stuff like food and shelter once they pay taxes), these folks aren't rich and indeed consider themselves part of the beleaguered middle class deserving of having their more than $10k state tax bills subsidized by coal miners in Kentucky.
 

Vic

Elite Member
Jun 12, 2001
43,345
971
126
#75
TIL that folks living in cities where parking spaces sell for more than most Americans make in lifetime and where median monthly rents are more than 3 times what the average retired American receives in Social Security (and annually tallies nearly the entire median pretax income of average Americans who still need to buy stuff like food and shelter once they pay taxes), these folks aren't rich and indeed consider themselves part of the beleaguered middle class deserving of having their more than $10k state tax bills subsidized by coal miners in Kentucky.
The coal miners in KY have never subsidized those people. Haven't you made a fool of yourself enough already?
 

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