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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]
IowaHawkeyeChief 05:09 PM 02-23-2019
Originally Posted by oaklandhater:
1.1k higher
2.more
3.yes
4.single

still got about 150 less even if you add in what I made this year vs my tax return last year

How much did you make?

Round numbers. You said $50k in the past...
[Reply]
Otter 05:21 PM 02-23-2019
Originally Posted by oaklandhater:
not mine.
Have you ever considered the fact that you suck at life and it's not our fault or responsibility to prop you up?
[Reply]
D2112 05:33 PM 02-23-2019
This thread has so much angryfail in it lol
[Reply]
IowaHawkeyeChief 05:36 PM 02-23-2019
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 $150 more in refund. The dumbing down of our youth...
[Reply]
2bikemike 05:39 PM 02-23-2019
Originally Posted by oaklandhater:
even with my tax returns I'm still out about 150$ less than last year.
What was your effective tax rate for those 2 years? I have yet to do mine so I can't say what will happen. I am fairly certain the SALT deduction will make my effective tax rate go up. But we'll see.

Everybody I know that has completed their tax return has a slightly lower effective tax rate.
[Reply]
Hamwallet 05:41 PM 02-23-2019
Funny how liberals donít understand math.
[Reply]
Randallflagg 06:02 PM 02-23-2019
Originally Posted by oaklandhater:
****ing called it.

come and eat your crow assholes.


Average tax refunds down double-digits, IRS data shows

https://thehill.com/policy/finance/4...irs-data-shows

Did it ever occur to you that the average American is paying less taxes today than they were a year ago - and THAT is the reason for the lower "refunds"? :-)
[Reply]
Randallflagg 06:03 PM 02-23-2019
Originally Posted by IowaHawkeyeChief:
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]
IowaHawkeyeChief 06:06 PM 02-23-2019
Originally Posted by 2bikemike:
What was your effective tax rate for those 2 years? I have yet to do mine so I can't say what will happen. I am fairly certain the SALT deduction will make my effective tax rate go up. But we'll see.

Everybody I know that has completed their tax return has a slightly lower effective tax rate.
With the reductions of 3% to 4% in most of the first 5 tax brackets and the larger income ranges, you would have had to have a huge amount of interest and taxes to have an increase. Most also have personal business expenses that have noticed an increase. However, as you said, most saw their rates go down, even with SALT deductions capped.
[Reply]
-King- 06:08 PM 02-23-2019
Originally Posted by Hamwallet:
Funny how liberals donít understand math.
What do those dumb librulz understand?!?!
[Reply]
alpha_omega 06:10 PM 02-23-2019
Pffft, this one is so simple. It’s a refund.
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patteeu 06:11 PM 02-23-2019
Originally Posted by oaklandhater:
1.1k higher
2.more
3.yes
4.single

still got about 150 less even if you add in what I made this year vs my tax return last year
Did you pay more or less tax this year? The size of your refund is unimportant. Tax laws control how much you owe in taxes. Your choices control how much your refund is.
[Reply]
TambaBerry 06:12 PM 02-23-2019
I made a lot more money this year then last and got 13% bigger refund this year while paying less money.
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patteeu 06:19 PM 02-23-2019
I had slightly less income, paid less in taxes, and got a bigger refund. My tax liability dropped more than my income.

My effective tax rate was reduced by 23%. Thanks, GOP!
[Reply]
Marcellus 06:32 PM 02-23-2019
OH has never been afraid to show how fucking dumb he is along with the other libtards.
[Reply]
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