Show of HandsShow of Hands

polster2 February 14th, 2019 3:10am

According to numbers released on Friday by the IRS, the average American’s tax refund is down by 8%, and nearly 25% fewer Americans are receiving a tax refund at all. Are you surprised at these negative impacts associated with the Trump tax bill?

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cpaswr just say the letters
02/15/19 8:50 pm

I got the best of both worlds. Overall tax bill increased. Refund went down.

I knew this once I saw the new withholding tables. They really sucked.

ovcourse 8646 FJB
02/14/19 6:08 pm

People are paying less taxes; therefore, refunds are smaller. Duh!

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polster2 US
02/14/19 6:10 pm

Nope. People can no longer deduct more than $10,000 in State And Local Taxes.

DGroot America
02/15/19 1:29 pm

Very few people hit this limit. How much state and local taxes did you deduct. I barely hit the limit living in California with really high property tax. It barely affected my tax rate.

Firework
02/14/19 5:52 pm

Trump sucks. Bernie Sanders 2020

bluerum29 optimistic idealist
02/14/19 4:55 pm

Ideally we need cuts to federal tax and an increase in state taxes

arctostaphylos Ankh Morpork, New York
02/14/19 2:47 pm

Gotta pay for those billionaires' tax cuts somehow...

kscott516 Masks fail
02/14/19 9:12 am

No kidding?! That’s because less was withheld from the govt. of course their refunds were smaller!! Our educational system is greatly failing us. Ugh!!

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polster2 US
02/14/19 9:15 am

It also doesn’t help that a cap was put in SALT deductions.

kscott516 Masks fail
02/14/19 9:30 am

“We recently looked at the impact of the new tax law and I noted that not many people would be affected by the deductions limits for state and local taxes (SALT). Only those raking in annual incomes well up into six figures and beyond would take a major hit. “

I thought you wanted the rich to pay more? Lower and middle class Americans kept more money this year and the wealthier took less deductions. What’s the problem?

Oooooh, I know! It’s because Trump did it and not Obama so its bad. πŸ˜‚πŸ€ͺ

polster2 US
02/14/19 9:32 am

There are plenty of middle-class Americans paying high State And Local Taxes. You don’t have to be rich to pay insanely high property taxes in states like NH, CT, and CA.

kscott516 Masks fail
02/14/19 1:10 pm

Right. Democrat-ran cities and states have high taxes, which is why people are leaving to go to Republican-ran cities and states like Florida and Texas.

kscott516 Masks fail
02/14/19 1:11 pm

I’m just glad you’re now realizing that the Trump tax cuts left more money for the lower and middle classes and are realizing the talking point about smaller returns is a garbage talking point devoid of reality.

polster2 US
02/14/19 1:38 pm

And guess which states have better education systems? Yep, the ones with higher property taxes.

kscott516 Masks fail
02/14/19 2:14 pm

Where’s California on that list? πŸ€”

And now the wealthy are leaving the liberal states for conservative ones.

kscott516 Masks fail
02/14/19 2:15 pm

But just to confirm, did you see your mistake about the Trump tax cuts yet? I want to be sure you understand your error.

polster2 US
02/14/19 2:30 pm

I want you to be sure that the Trump tax cuts are hurting more people than just those who make six figures per year.

kscott516 Masks fail
02/14/19 2:33 pm

No, they’re not. That’s fake news. Wages have finally outpaced inflation and more people are working. The lower and middle classes got 2-3% income tax cuts. The change in deductions only affect the wealthy. All of that was happening as the Fed increased rates 6 times in 2 years to hurt Trump’s economy and they failed.

polster2 US
02/14/19 2:37 pm

Now you think there’s a conspiracy at the federal reserve too? Is there any conspiracy theory that you don’t fall for?

kscott516 Masks fail
02/14/19 3:19 pm

Umm there has been a conspiracy perpetrated by the Fed since it’s inception. Where have you been?!

polster2 US
02/14/19 3:20 pm

I notice you ignored my source.

kscott516 Masks fail
02/14/19 3:21 pm

Did you even catch the irony of you linking that article that says the Fed’s interest rates are a tax unto themselves AND HOW Democrat cities and states tax their citizens more? And how $112k is only middle class in those high-tax liberal hellholes, like San Francisco? You know, the city with the highest homeless population and rampant drugs.

polster2 US
02/14/19 3:26 pm

Oh, you mean places that adequately fund their public schools, unlike Florida and Texas?

kscott516 Masks fail
02/14/19 3:41 pm

That’s funny because the top 5 best school districts in Florida are all in Republican controlled areas. πŸ˜‚ Once again proving that Democrats ruin everything.

polster2 US
02/14/19 4:17 pm

Nice cherry picking

kscott516 Masks fail
02/14/19 4:22 pm

Lol it’s your article πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚

polster2 US
02/14/19 4:25 pm

Hey, look, KScott! All the best school systems are in blue states! Looks like I was right again!

www.forbes.com/sites/reneemorad/2018/07/31/states-with-the-best-public-school-systems/

GlockMan1 Alabama
02/14/19 9:02 am

As OZZY has said. “withholding rules changed”. People got more on each check which is an increase over 52 weeks. I never want a big tax return because it means I have been loaning the government some of my income for a year (interest free). I’ll take all of it weekly thank you.

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polster2 US
02/14/19 9:16 am

I guess you don’t like SALT deductions either.

kscott516 Masks fail
02/14/19 1:11 pm

Those deductions hurt the wealthy, not the lower and middle classes.

suppressedID suck it Kyle
02/14/19 8:46 am

Your problem is that you aren’t already RICH πŸ’°

According to the Tax Policy Center those in the bottom 20 percent of earners likely saw an average tax cut of about $60 total for the year. The next 20 percent could expect just a $380 total cut, while the top 0.1 percent of Americans saved an average of more than $190,000.

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ozzy
02/14/19 6:44 am

Lefty talking point, but it’s fake news.
1) the amount you have to earn to even pay taxes was doubled 2) withholding rules changed. So 3) people kept more of their money during the year and paid less from paychecks during the year. It makes sense that the refund would be less.

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polster2 US
02/14/19 6:57 am

Did people claim more deductions?

polster2 US
02/14/19 6:58 am

Claim more dependents, I meant to say.

ozzy
02/14/19 7:59 am

No, but the withholding rules changed. It collected less and made paychecks larger

polster2 US
02/14/19 9:17 am

SALT deductions were capped.

kscott516 Masks fail
02/14/19 1:12 pm

Which disproportionally hurts the wealthy. Isn’t that what Democrats want?

smart1
02/13/19 10:39 pm

Duh. This is only news to the Trump cult. 83% of the cut went to the 1% and corporations. You have to be a complete idiot to not know the middle class was going to get screwed. Never trust a Republican with money. This is just socialism for the rich.

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ozzy
02/14/19 6:44 am

That’s not factual, smart

smart1
02/14/19 10:31 am

Yes, it is.

kscott516 Masks fail
02/14/19 1:12 pm

No, it’s factually not.

Think Lovin Life
02/13/19 9:52 pm

Reduction in tax returns is NOT a negative! If you pay less to the government throughout the year, then only a desperate Democrat who doesn’t understand math would think this is a negative!

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polster2 US
02/14/19 4:56 am

The inability to deduct State And Local Taxes above $10,000 is causing some people to owe money when they got a refund last year.

Think Lovin Life
02/14/19 7:28 am

Polster ... keep stretching! Oh, and by the way, as a loony leftist, please confirm that the amount of taxes that wealthy are paying is your primary concern.

🍿🍿🍿

polster2 US
02/14/19 9:21 am

Noted that you’re not denying what I’ve said.

Think Lovin Life
02/14/19 9:22 am

Polster ... I fully explained your delusion.

polster2 US
02/14/19 9:23 am

You constructed a strawman.

lj74
02/13/19 9:36 pm

Lol!!!! You have a problem with math?!

Lower taxes=fewer returns and lower returns.

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polster2 US
02/14/19 4:54 am

Some people can’t take deductions they once took.

think4yourself Not a safe space
02/13/19 9:19 pm

More people working and paying taxes is positive, not negative.

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Sentinel Ya ie wa noh
02/13/19 8:22 pm

Less holdings from paychecks also reduce income tax return at tax time.....numbers do not lie, however People do.....

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polster2 US
02/13/19 8:25 pm

Some people owed even after claiming zero dependents.

Sentinel Ya ie wa noh
02/13/19 8:36 pm

Total tax liability per individual circumstance, tax bracket.....several factors determine total liability.....

polster2 US
02/13/19 8:40 pm

It would certainly help if the SALT deduction weren’t capped.

lj74
02/13/19 9:37 pm

Polster, a lot of people didn’t adjust their deductions. Very common when tax laws change.

polster2 US
02/14/19 5:02 am

I mean, I don’t think it’s reasonable to ask people to sell their homes just so that the rich can get an instant tax cut.

kscott516 Masks fail
02/14/19 1:14 pm

Those capped SALT deductions means the wealthy pay more in taxes. You need to train your brain.

polster2 US
02/14/19 1:32 pm

Except not everyone taking advantage of that deduction is wealthy.

kscott516 Masks fail
02/14/19 2:17 pm

No, and they can take deductions up to $10,000, I believe. Analysis will show that it’s only those earning well into the six figures that will be affected.

MrMilkdud
02/13/19 8:16 pm

Democrats should love him now.

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polster2 US
02/13/19 8:57 pm

Because Democrats no longer care about minorities?