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Washington DC and The Holy Land>As tax refunds shrink, Republicans scramble to defend Trump tax cut
oaklandhater 04:54 PM 02-23-2019
https://www.politico.com/story/2019/...licans-1182286

As tax refunds shrink, Republicans scramble to defend Trump tax cut

Size apparently does matter, at least when it comes to tax refunds, and thatís put Republicans on the defensive as Americans start filing their returns.

With headlines blaring about smaller refunds in the first weeks of the three-month filing season, GOP lawmakers and their supporters are working in tandem to remind people that the GOP tax overhaul cut almost everyoneís taxes last year, regardless of what their tax refunds look like this year.

But Americans are accustomed to refunds, often big ones, and IRS statistics showing they are down by an average of 17 percent so far this year have forced a reckoning that conservatives didnít expect. Democrats are doing their best to take advantage of it and ramping up their criticism of the tax overhaul, which passed without a single Democratic vote.

The Treasury Department has taken pains to note the numbers are early, coming just a few weeks after filing officially started Jan. 28.

ďAs we have noted, data this early in the filing season has many aberrations and isnít useful in drawing broad conclusions on refunds overall," a Treasury Department spokesperson said when the latest batch was released Friday night. "There are many factors that impact refunds on a weekly basis that will normalize over time and lead to useful conclusions."

But Democrats think they have the upper hand for now. ďIn politics, if youíre explaining youíre losing,Ē said one Democratic aide, who asked to remain anonymous to freely discuss internal party strategy.

Republicans are acutely aware that there's a public relations problem.

A Feb. 11 tweet from 2020 presidential aspirant Sen. Kamala Harris (D-Calif.), charging that the refund decline resulted from a middle-class tax hike under the Tax Cuts and Jobs Act, drew more attention to the issue, prompting strong Republican pushback.
[Reply]
mac459 09:03 PM 02-24-2019
Originally Posted by cosmo20002:
You are a weird dude.
To be fair, anyone who posts in this shit hole is weird
[Reply]
lewdog 09:07 PM 02-24-2019
Originally Posted by Buehler445:
Thatís true except for the refundable credits. EITC is the main one that fleeces America.



Exemptions are no more but the Child Tax credit went from 500 to 2000. Without seeing the 1040 Iím guessing thatís the difference. Unless you calculated the gain or the taxation of the gain incorrectly.
I think the taxes on the capital gains I must have wrong. All my capital gains were short term sales though, so I thought I had that dialed in. It's a bit odd.

The child tax credit I knew would help a ton.
[Reply]
2bikemike 09:51 PM 02-24-2019
Originally Posted by mac459:
To be fair, anyone who posts in this shit hole is weird
How's it going wierdo?
[Reply]
mac459 05:47 AM 02-25-2019
Originally Posted by 2bikemike:
How's it going wierdo?
As soon as the weather warms up so I can get back on my motorcycle it will be a lot better
[Reply]
lawrenceRaider 06:48 AM 02-25-2019
Originally Posted by oaklandhater:
Iíve posted a few time actually.

And I still check up on it

And pretty much every economist called the new tax plan shit.

So Iíll keep tossing facts and polls st you guys until the delusion ends and you admit the tax was a scam to save the 1% a ton of cash while I basically got nothing
Bait and switch then is your plan. Groovy.

You paid less tax, but are mad about getting a smaller refund.

At least be honest with your OP. You are a terrible financial planner and don't understand basic math.

I'm not sure anyone with a brain thinks the "Tax Reform" was the right one, so you do have that going for you. Though it's just parroting what you heard elsewhere as you simply don't have the brain power to think for yourself.
[Reply]
BleedingRed 08:16 AM 02-25-2019
Oak,

Bro you are young and dumb. I still love you tho.
[Reply]
Shields68 09:02 AM 02-25-2019
Originally Posted by lawrenceRaider:
Bait and switch then is your plan. Groovy.

You paid less tax, but are mad about getting a smaller refund.

At least be honest with your OP. You are a terrible financial planner and don't understand basic math.

I'm not sure anyone with a brain thinks the "Tax Reform" was the right one, so you do have that going for you. Though it's just parroting what you heard elsewhere as you simply don't have the brain power to think for yourself.
Though it is funny how the left is really pushing this and the press is cooperating with their echo chamber that "refunds are down" and people should be mad about that. Can't be a coincidence that a number of outlets have run this math challenged articles.
[Reply]
patteeu 10:12 AM 02-25-2019
Originally Posted by Shields68:
Though it is funny how the left is really pushing this and the press is cooperating with their echo chamber that "refunds are down" and people should be mad about that. Can't be a coincidence that a number of outlets have run this math challenged articles.
RodeoPants2 was all over a tweet describing, in simplified fashion, the impact of 70% marginal tax rates when it didn't fully describe the way progressive income taxes worked. I guess he hasn't seen this thread or encountered the talking point you describe.
[Reply]
jjjayb 11:12 AM 02-25-2019
Originally Posted by oaklandhater:
Iíve posted a few time actually.

And I still check up on it

And pretty much every economist called the new tax plan shit.

So Iíll keep tossing facts and polls st you guys until the delusion ends and you admit the tax was a scam to save the 1% a ton of cash while I basically got nothing
Great, then why don't you respond to IowaHawkeyeChief and explain to us again how your taxes are more?

Originally Posted by :
I see you bolted, so here's the deal OH... Let's assume you made $49k last year and $50k this year after pretax payroll deductions for healthcare, flex 2, retirement etc.

Last year your taxes would have looked like this...

2017: $49000 - personal exemption $4050 - Standard deduction $6500 = Taxable income of $38,450. Tax liability of $5,226.25 + 25% of any amount over $37950. $500 x .25 or $125.00. $125.00 + $5226.25 = $5351.25

2018: $50000 - personal exemption $0 - Standard deduction $12000 = Taxable income of $38,000. Tax liability of $952.50 + 12% of any amount over $9,525. $28,475 x .12 or $3,417. $952.50 + $3,417.00 = $4369.50

Your tax cut was just shy of $1000 dumbass, despite making $1000 more. You are saying you would prefer to pay $1000 more in taxes to get $150 more in refund. The dumbing down of our youth...

[Reply]
2bikemike 11:29 AM 02-25-2019
Originally Posted by jjjayb:
Great, then why don't you respond to IowaHawkeyeChief and explain to us again how your taxes are more?
Originally Posted by :
Originally Posted by oaklandhater

So Iíll keep tossing facts and polls st you guys until the delusion ends and you admit the tax was a scam to save the 1% a ton of cash while I basically got nothing
Reading between the lines I think he admitted he didn't pay more but basically got nothing. I think the concept of 1% of 50,0000= 500 verses 1% of 500,000 = 5,000 is difficult to understand. :-)
[Reply]
Over Yonder 12:01 PM 02-25-2019
Originally Posted by cosmo20002:
You are a weird dude.
I'm weird because I don't want to write the government a check at tax time? Are you suggesting normal behavior is glee when writing the government a check? If that's what you are suggesting, then I'm a weird SOB!! :-)
[Reply]
Randallflagg 02:45 PM 02-25-2019
Originally Posted by Over Yonder:
I'm weird because I don't want to write the government a check at tax time? Are you suggesting normal behavior is glee when writing the government a check? If that's what you are suggesting, then I'm a weird SOB!! :-)

:-)


Took the Wife to Dairy Queen today for the $5 lunches. That $12 refund was GREAT!!! Again - We are old folks and we pay next to nothing in taxes these days...so the $12 was a nice "windfall". :-)

Gone are the days when we jointly made $145,000 per year....and paid a boatload in taxes. But here's the thing - I never once failed to pay what I owed. Never once. Did we like paying taxes? HELL NO! But nonetheless.....
[Reply]
Loneiguana 04:53 PM 02-25-2019
Originally Posted by Shields68:
Though it is funny how the left is really pushing this and the press is cooperating with their echo chamber that "refunds are down" and people should be mad about that. Can't be a coincidence that a number of outlets have run this math challenged articles.
This comment is funny as the gop narrative is not passing scrutiny. Republicans tampered with the withholding process to mask the fact that working households were losing thousands in tangible deductions. The extra 1.50 to $10 severely affected households are getting extra per week just doesn't add up to the money missing from their refund check.
[Reply]
Marcellus 06:19 PM 02-25-2019
Originally Posted by Loneiguana:
This comment is funny as the gop narrative is not passing scrutiny. Republicans tampered with the withholding process to mask the fact that working households were losing thousands in tangible deductions. The extra 1.50 to $10 severely affected households are getting extra per week just doesn't add up to the money missing from their refund check.
Your stupidity is breathtaking.

Doubling the standard deduction doesn't hurt anyone in any way, shape or form.

Do you have a fucking clue on how tax preparation even works?

Never mind, I know the answer based on your comment.
[Reply]
Loneiguana 06:43 PM 02-25-2019
Originally Posted by Marcellus:
Your stupidity is breathtaking.

Doubling the standard deduction doesn't hurt anyone in any way, shape or form.

Do you have a ****ing clue on how tax preparation even works?

Never mind, I know the answer based on your comment.
This is the type of dishonest talking you expect out of cons nowadays.

Though, it could be he is just too stupid to understand all the deductions people lost.

You really never know with the "the small decrease in withholding totally adds up to the amount of tax refund you lost" crowd.
[Reply]
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