Oh so you didn’t get the tax break those at the top did?
Listen here Double D, the context I replied to was “massive tax cut” to the people. “Pretty much nothing” was your assessment of the result, which I commented that it didn’t include me.
I don’t worry myself about the fortune or misfortune of others. I just know that it saved me about $2,500 a year.
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You are wrong.
Let’s look at the TCJA’s impact on the top one percent of taxpayers. In 2018, 1.6 million taxpayers reported earning $500,000 or more. While the amount all taxpayers owed the IRS in 2018 declined by $64 billion, the amount these high earners owed increased by $16 billion.
Their share of the tax burden also increased. They accounted for 22 percent of total income in 2018 (a 0.5 percentage point increase over 2017) but their share of total income taxes rose to 40 percent (a 2.3 percentage point increase).
The truth about Trump’s tax cuts by the numbers, not by Biden: Andy Puzder (yahoo.com)
For your reading pleasure.
I can say that was a positive, but I believe that it was short term in the tax policy. The cuts for corporations were permanent, but the ones for individuals scale down year after year for about 5 years IIRC. I have an issue with that aspect of the policy.
So it saved you $2500 the first year. How much did it save you this year, comparing to what you paid the year prior to Trump’s tax policy? Personally, I paid the most I have ever paid this year under the existing Trump tax policy.
Again the vast majority of the tax cuts went to those in his class. Did it not? Scraps went to the others. And it was massive tax cut to “his people.” Are you part of his class?
I am a poor person to ask. I don’t keep track of my income tax, I leave that to my tax agent. I’d guess I pay about the same.
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I am part of his “$2,500 income tax reduction class.” That is the only class that I care about. I’ll leave worrying about all the others to you. I actually have a life.
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And Mr.Puzder was recommended as Secretary of Labor in the Trump Admin. So maybe a conflict of interest here?
Another outside perspective. Where did the $1.5 trillion in Trump tax cuts go? - Marketplace
I am no tax expert either haha. I just remember when the bill came out that one of my thoughts was that they are selling this with low taxes THIS year and then the low taxes go away quickly for us average Joes, but stay for corporations.
I wouldn’t call the policy a big win for the middle class. It was mostly a tax break for corporations, and most of the economic analysis at the time said it will drive up deficits (the policy was on the wrong side of the Laffer curve). I have a feeling that those short term tax breaks we got are not going to cover our tax increases when the middle class is told to pay for those corporate tax cut driven deficits.
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Yes, please show your selfishness to everyone. It’s no wonder you probably vote Republican.
The middle class will not have to pay for tax cuts driven by deficits in the same way that children are not paying for the debt, like we’ve been told for decades.
Yes, that is a good point because the tax cuts for the people expire.
“When all is said and done, there is way more said than done.”
Nothing is a cheap as talk.
Have at it. You can be the “talk issuer.” It’s free.
BTW, most every election I am voting “against” much more than I am voting “for”
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This. So much THIS.
And it is some sad bullshit.
When your choices are Hillary and Trump and then Trump and Biden.
Like what the fuck.
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And that is what happens when the duopoly is nothing but corrupt.
So do you have anything to refute his numbers on the actual tax cuts since we were talking about individuals? The article you linked has to do with impact of the economy with the downturn taken into account - not who got tax cuts.
Because tax cuts on corporations help those with stock portfolios and I am sure democrats hold stocks too.
And this is why I say electoral politics is a losing game. The pendulum just swings back and forth from corruption to corruption and there are no significant change for the people.
I don’t think anyone disagrees with our 2 party system being garbage, but minus a revolution with violence - I don’t see anything changing.
Maybe people have noticed an uptick in their investment portfolio but this is mainly noticeable to those who have a large portfolio investments. Not the average person.