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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]
Randallflagg 08:45 AM 02-24-2019
Originally Posted by GloucesterChief:
Because withholding makes people not think that they are giving the government a interest free loan.

If you magically removed withholding and made everybody stroke a check on April 15th, Washington would get burned to the ground.

Never a truer word spoken..........
[Reply]
Bwana 08:47 AM 02-24-2019
#oaklandhaterthings




[Reply]
crayzkirk 08:51 AM 02-24-2019
I have never understood why people think giving the government an interest free loan is a good idea. It's a bit like the interest deduction; the money is still gone.
[Reply]
Garcia Bronco 08:57 AM 02-24-2019
Originally Posted by BucEyedPea:
Notice how Oakie never addresses the spending side that's going on? Yeah, because that would implicate his side and he can't face that.
Either way our federal government is spending us out of house and home for promises they can't keep, that shouldn't even be the purview of the federal government, and we're straining the system out of existence
[Reply]
patteeu 09:08 AM 02-24-2019
Originally Posted by crayzkirk:
I have never understood why people think giving the government an interest free loan is a good idea. It's a bit like the interest deduction; the money is still gone.
Itís not an interest deduction if you would have spent the money instead of saving it.
[Reply]
Reerun_KC 09:12 AM 02-24-2019
Originally Posted by lewdog:
I thought with my capital gains added in and putting 2 allowances due to having a child and one income, Iíd be near $0 or a small refund ($500). Not sure why Iím getting such a big return. Makes me question what TurboTax is doing. Lol
This is where you go outside and scream at the sky in protest of The Don.
[Reply]
Donger 09:13 AM 02-24-2019
I like tax refund threads. I add up the number of times people write "interest free loan."
[Reply]
Bowser 09:15 AM 02-24-2019
This is an amazing thread. I feel like OH was absolutely sure he had some type of "gotcha" moment locked and loaded here. But alas.


[Reply]
LOCOChief 09:19 AM 02-24-2019
Originally Posted by oaklandhater:
not mine.
Youíve got to have a job to have income so youíre doing it wrong again
[Reply]
patteeu 09:24 AM 02-24-2019
Originally Posted by LOCOChief:
Youíve got to have a job to have income so youíre doing it wrong again
I know this is just BB smack, but it isnít really true. There are lots of retirees with income from SS and investments.
[Reply]
Over Yonder 09:26 AM 02-24-2019
Originally Posted by patteeu:
This makes mathematical sense and itís the right approach for people with discipline. For some people, giving up the potential interest to have someone hold on to that money so they donít squander it during the year might make more sense psychologically.
Also, there has to be a small group like me. I wrote the government a check one of my first years filing taxes. It was for $22. I will never forget that. Decided right then and there that I will never again write the government a check at tax time. So I always take extra out of my check during the year.

Also want to add, I am one of those people Oakland is crying over. My refund was smaller than last year. Couldn't claim our boys this year. I blame Trump :-)
[Reply]
Bowser 09:28 AM 02-24-2019
Originally Posted by oaklandhater:
fucking 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
:-)

Here's an important rule of life, since your parents didn't seem to fill you in on it -

You want more? Do more.
You want better? Do better.

It really is that simple.
[Reply]
Garcia Bronco 09:32 AM 02-24-2019
Originally Posted by Over Yonder:
Also, there has to be a small group like me. I wrote the government a check one of my first years filing taxes. It was for $22. I will never forget that. Decided right then and there that I will never again write the government a check at tax time. So I always take extra out of my check during the year.

Also want to add, I am one of those people Oakland is crying over. My refund was smaller than last year. Couldn't claim our boys this year. I blame Trump :-)
You write them a check every paycheck you earn of the year. if you couldn't claim your children this year that means there's a reason you weren't entitled to the claim and it's probably not new. The hilarious thing is having to write them a check for $22 is almost perfect. your refund was smaller because you paid less taxes in each paycheck during the year.
[Reply]
Over Yonder 09:36 AM 02-24-2019
Originally Posted by Garcia Bronco:
You write them a check every paycheck you earn of the year. if you couldn't claim your children this year that means there's a reason you weren't entitled to the claim and it's probably not new. The hilarious thing is having to write them a check for $22 is almost perfect. your refund was smaller because you paid less taxes in each paycheck during the year.
You do realize the second part of my post was snark/sarcasm, right? :-)
[Reply]
patteeu 09:42 AM 02-24-2019
Originally Posted by Garcia Bronco:
You write them a check every paycheck you earn of the year. if you couldn't claim your children this year that means there's a reason you weren't entitled to the claim and it's probably not new. The hilarious thing is having to write them a check for $22 is almost perfect. your refund was smaller because you paid less taxes in each paycheck during the year.
He understands all this. He just doesn't value the same things as you. I'm sure he understands the whole interest free loan thing. Realistically though, if you get a few hundred dollars in a refund, how much interest did you really forego in today's environment? A dollar? Two? Big deal.
[Reply]
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