Anyone feeling screwed?
Republican tax plan -- rob the poor feed the rich.
No wonder Trump and McConnell don't want the poor to come out and vote.
- Amazon nspl273You realize Trump is literally doing just that and trying to silence those who disagree with him by trying to prevent freedom of the press, buying people's ability to talk about how he paid to be with pornstars, and preventing an investigation that if he was completely Innocent from he wouldn't have to worry about it?
- Match / EngulcM52Tax reform seems like it was designed to push high tax states to reduce taxes. Unlimited salt deductions and mortgage interest to 1 million were essentislly subsidizing states like New York and California bank role by diverting federal money locally. States like nyc are in trouble if a sizable exodus occurs from those who pay the most taxes. Does anyone ever ask where the tax money goes because you know it's never enough.
- The exodus has already started
All the states on top of that list are high taxes blue states
- Come on!, tax cuts were targeted to help the real rich ppl, not the ppl in Blind
Apple, Google, etc. getting a corporate tax cut does not mean YOUR taxes went up.
And yes, corporations getting tax cuts are very good for everyone.
Let’s take Apple for example. They have decided to open a new campus (in Texas I believe) in large part due to the tax bill. There is a video of Tim Cook giving credit to the tax plan. I can provide the link if you are too lazy to look it up. This campus will provide a few thousand new jobs that all pay over 6 figure.
So yeah. Keep complaining about evil corporations...
- New tLFu71Looks great for me. Not so great for loser liberals in liberal states. Maybe you should stop voting in anti-American losers who don’t let a day go by without coming up with another freedom to restrict and something to tax.
- Not for long @laserpntr. More and more tech companies are moving to red states. Lower cost of living means they can operate on much lower labor cost while still providing great standard of living to their employees.
The only reason blue states bring in more tax revenue now is because they already have built up industries bringing in tons of revenue from when they where red states.
There is a pattern here. Red state has freedom and lower taxes. People move there, build up prosperity, population grows and becomes more and more liberal. More taxes follow, and eventually red becomes blue.
- California is a donor state https://www.moneytips.com/is-your-state-a-net-payer-or-a-net-taker/356
- State income tax is not deductible any more. The 9.3% rate I pay is exactly 9.3% now. It used to be effectively ~6%. CA really needs to reduce state income tax.
- I kinda feel bad. My taxes were slashed for no reason. I didn't need a larger break but if that's what trumps people want, fine.
- I don’t care. People merit getting screwed for voting for the orange cheetolini turd.
- Deficit looks awesome too! Err wait
- We already suffered a trillion dollar deficit last year...at peak employment...with high faultin’ trump taxes in effect. Here comes another. So much winning.
What happened to those deficit hawk Republicans that refused to approve any spending without offsetting in cuts elsewhere.
They gone vanished like a fart in the wind.
You know what will happen ultimately? It’s coming. The wealth tax. Even Trump proposed it 1999 to pay off the national debt.Feb 121
- Apple ijyA68I thought Democrats wanted higher taxes? If so, why are you complaining if your taxes went up? Is it because you wanted a Democrat to raise your taxes and not a Republican?
- Atinlay, please stop distorting the truth. State and local taxes have been deductible since the beginning of the federal income tax in 1913. This was not some liberal loophole - it's the way it's always been. Why should you be taxed on money you're paying in taxes? It's one of the few deductions that makes perfect, logical sense.
There are zero lenses to view this through other than "Republicans wanted to offset the cost of this tax cut so they did it by intentionally harming blue state residents that won't vote for them anyway". It is 100% a money grab from New York and California - which are already subsidizing the rural red states as it is.
You can stop repeating yourself now. We saw it the first time. Yes, it is true that if you live in a state with high local taxes you'll be harmed by this change. That's true. But the second part of your statement is then objectively false - it's not a tax cut for those people, this law resulted in a tax increase, and that's by design.Feb 111
- More intellectual dishonesty. Mistakes? It's a law that's been on the books for the entirety of the existence of the federal income tax. Before my grandparents were born. Before any legislator in any of the involved state was born.
Also you are attempting to shift the responsibility for your dishonesty. People here are reporting how it impacted them. Not how it affected the median of the nation. So don't bother finger pointing on that, either.Feb 111
- You provided zero facts.
- Effective tax rate is up. I always adjust my w4 each year to prevent paying too little tax. Capping SALT deductions really screwed me. 3k increase in taxes. Meh.
And the sad thing is this year was supposed to be the best year in terms of tax cuts. They slowly roll back (of course not for the ultra wealthy) each year. This was the only way the GOP could ram it through using reconciliation. It’s an ARM and the losers are the bottom 98% of the tax payers, per usual when the GOP creates tax breaks.
- Indeed cyhy46Filed my taxes last week, and my tax rate was so low that I went through Turbotax a second time just to make sure I hadn't fucked up.
Feels good man.
As an aside: If _anyone_ who works at a major tech company is feeling screwed by a tax change that, to quote you, "rob[s] the poor" and "feed[s] the rich" then I've got some really bad news for you. YOU ARE ALL RICH. WE ARE ALL RICH. BY EVERY REASONABLE STANDARD, VIRTUALLY EVERY SINGLE EMPLOYEE AT EVERY MAJOR TECH COMPANY IS RICH.
Median US household income is about $62k. https://fred.stlouisfed.org/series/MEHOINUSA646N. If you AND ALL YOUR ROOMMATES COMBINED make more than that, you're already richer than half of all Americans.
- Idiot OP doesn’t realize that tax refund means nothing. It’s how much you pay in taxes that matters. A refund just means that the government held onto your money without paying you interest. In other words, you overpaid during the year.
A lot of people are getting zero refund because they aren’t able to itemize enough to overcome the standard deduction. This is not a bad thing...
Unless you make more than 400k you got a small reduction in taxes that was automatically reflected in your paycheck by your HR dept.
- An other good one:
Remember back before the economic crash of 2008 just over a decade ago? One of the heralds of that massive worldwide economic crash was the fact that more than 5.5 million Americans couldn’t pay their car note, and were more than 90 days behind on the bill. According to a report by the Federal Reserve Bank of New York, we’re heading toward a critical mass with more than 7 million car loans more than 90 days past due.