Face it: You (Probably) Got a Tax Cut.

Jan 2015
47,892
13,615
Great State of Texas
#2
64.8% got a tax cut but only 39.4% thought they got a tax cut.

Why would they think that?

Face It: You (Probably) Got a Tax Cut
Trump's tax cuts remain extremely popular with the American people and will be part of the reason Trump will be re-elected in 2020.

Fake news NY Times is doing everything they can to down play this successful policy.
 
Nov 2018
5,714
1,691
Bel Air, MD
#3
"The benefits of the Trump tax cuts have been powerful and broad. A whopping 82 percent of middle-class Americans saw a tax cut last year, with an average savings of more than $1,260. A full 90 percent of workers saw an increase in pay after the IRS adjusted withholding tables to reflect the new law. Last year, wages grew an average of 3.3 percent, the best in a decade.
The Republican tax cuts accelerated job growth by nearly 25 percent and opportunity zones led investors to put their money into distressed communities. Finally, the Trump tax cuts doubled the child tax credit, saving working families an estimated $100 billion."


What the lying media isn’t telling you about the Trump/GOP tax cuts: They really ARE cuts
 
Likes: John T Ford
Jan 2012
795
259
SoCal
#4
My effective tax rate was lower by about 1.5%. It didn't feel as good as it should since California is still reaming me at nearly 5% of all earnings for the year. However I understand numbers and mine were, I paid more taxes overall on even higher income but the rate was lower by about 1.5%.
 
Likes: John T Ford
Sep 2017
5,469
6,530
Massachusetts
#5
64.8% got a tax cut but only 39.4% thought they got a tax cut.

Why would they think that?

Face It: You (Probably) Got a Tax Cut
Most people just focus on refunds, which could be misleading.

Yes, most people got a cut. However, the large majority got a cut that was much smaller than their per capita share of the resulting increase in federal debt. So, whether that's eventually handled through spending decreases or tax increases, the likelihood is they'll come out behind, long term. And that's before even considering the way the tax cuts phase out for most people (while the portions tailored for the rich were made permanent).

In my own case, I got a monster cut, so I'll likely come out way ahead, even after the inevitable service cuts or tax hikes of the future driven by all that additional debt. But I'm wealthy, so most people aren't in the same boat.
 
Sep 2017
5,469
6,530
Massachusetts
#6
My effective tax rate was lower by about 1.5%. It didn't feel as good as it should since California is still reaming me at nearly 5% of all earnings for the year. However I understand numbers and mine were, I paid more taxes overall on even higher income but the rate was lower by about 1.5%.
My effective federal rate dropped enough to save me over $15,000. Even at my "lower upper class" level, it was an obscene windfall. For the very rich, it meant millions of dollars of further enrichment. But there's no such thing as a free lunch. Every dollar the rich saved amounted to a dollar of increased debt we, as a nation, are going to need to figure out how to deal with. And we're not talking about debt being run up to stimulate us out of a recession or to deal with some existential crisis like a world war. We're talking about debt run up to expand the already-record-large gap between the rich and the rest of the country.... debt to allow for the purchase of second yachts and fancier third homes on Paradise Island.
 
Jan 2016
51,698
47,935
Colorado
#7
My effective federal rate dropped enough to save me over $15,000. Even at my "lower upper class" level, it was an obscene windfall. For the very rich, it meant millions of dollars of further enrichment. But there's no such thing as a free lunch. Every dollar the rich saved amounted to a dollar of increased debt we, as a nation, are going to need to figure out how to deal with. And we're not talking about debt being run up to stimulate us out of a recession or to deal with some existential crisis like a world war. We're talking about debt run up to expand the already-record-large gap between the rich and the rest of the country.... debt to allow for the purchase of second yachts and fancier third homes on Paradise Island.
And we're borrowing money from China to do all that.

What a world!
 
Jan 2014
17,209
4,747
California
#9
My effective federal rate dropped enough to save me over $15,000. Even at my "lower upper class" level, it was an obscene windfall. For the very rich, it meant millions of dollars of further enrichment. But there's no such thing as a free lunch. Every dollar the rich saved amounted to a dollar of increased debt we, as a nation, are going to need to figure out how to deal with. And we're not talking about debt being run up to stimulate us out of a recession or to deal with some existential crisis like a world war. We're talking about debt run up to expand the already-record-large gap between the rich and the rest of the country.... debt to allow for the purchase of second yachts and fancier third homes on Paradise Island.
Mr. Arkady,

Yes, we did all notice you didn't send back what you thought was an obscene windfall.
 
Likes: Luca

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