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Posted on 12/20/2025 11:29:05 PM PST by Libloather
Americans should expect to be flush with cash next year, with fat tax-refund checks and more take-home pay in their pockets, says a top contender to become President Trump’s next Federal Reserve chair.
“We are going to see the biggest refund cycle ever in the history of America, and people are going to get massive refund checks,” boasted National Economic Council Director Kevin Hassett this week in an interview on FOX Business’ “Varney & Co.”
“We’re expecting just that part of it alone to be worth a couple-thousand-dollar refund … the numbers are striking.”
Hassett’s comments Thursday came a day after Trump predicted “the largest tax refund season of all time” next spring and that many families would save between $11,000 and $20,000 each year.
During the segment, Hassett also threw shade on a recent Fox News Poll that found 44% of Americans saying they are falling behind financially, and 74% viewing the economy as “not so good” or “bad.”
“You saw in the jobs report that … wages for the typical worker were up 3.7%, ” said Hassett.
“So if you’re running 3.7% wage increases at 1.6% core inflation, then real wages are growing at a rate of about 2 [to] 2.5%. By our estimates right now, blue-collar workers have already seen an almost $2,000 raise this year after inflation, because wages are growing so much faster than prices”
(Excerpt) Read more at nypost.com ...
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Her eyebrows are tattoos, what did you expect?
Should we pray he’s right or are we all confident?
Not that I’ve got a lot of experience with people who will be affected by the new tax laws, I will say this.
The people affected by the “no tax on tips” change know the law exists but have no idea how it’s been implemented, the way I understand it, the tips will still be reported to the IRS, however, the individuals affected will be able to take up to a $25,000 deduction to reclaim a lot of the tips that were taxed during the year.
Most people have no idea the difference between a tax deduction and a tax credit.
Now, that I’ve been drawing social security for about a year and my wife a couple of years longer, the tax deduction for social security will certainly help us.
Hopefully those affected by the no tax on tips and social security deductions, will take the time to find out how to take the deductions and benefit from the tax law changes, if they do, then millions will get much bigger tax refunds.
Pard, I ain’t spending the money yet. Reagan said “Trust but verify “. His acting was fair, great Prez, good philosopher. I won’t buy my new Ram Doge yet. Gosh, I ain’t wore out my ‘95 or 02 Cummins yet. I’ve had them since they were new. All this free money 💩 gets on my old nerves. Regards
Seeing (and counting) will be believing.
Good intentions , even when from very powerful people, cannot be exchanged for U.S. Currancy.
It’d be nice to receive money you don’t expect, but perhaps it’d be better to simply not pay it and reduce the deficit. The resulting increase in the dollar’s value and the decline in interest rates would be more beneficial overall. Of course, if the idea is to buy votes for the midterms and keep the Demunists out of power…well, refund away!
Trump accounts will be the game changer. It will take time but just think of the first thousand bucks as seed money. Parents will watch the accounts grow and contribute for the future. Then there’s inflation-government caused. Those that hold the accounts will expect government to control spending as well as the printing.
Yup.
It’s not good to over promise and raise people’s expectations. If you promise people a thousand dollars or more and they only $500, they’ll be mad.
The tax rates between 2024 and 2025 remain constant. I’d like to hear precisely what creates this presumed 2025 windfall tax refund.
Deductions and credits.
EC
We have money to give billions to other countries and Congress to give themselves huge pay raises, but when it comes to American people, let’s worry about the deficit. I think not.
There is no tax on tips or overtime up to certain amount. Seniors get an additional $6K standard deduction, $12K for married couples. I don't itemize so I am not sure what the extra goodies are for those deductions. I did see new car loan interest is deductible...
There is always money for food stamps, Obama phones, rent subsidy, free Medicaid etc.
“All this free money 💩 gets on my old nerves.”
Yup, fully agreed. For that money to be “free”, it first had to be taken from someone else. I’d feel more comfortable if it were used to pay down the national debt. Even if the money is sourced directly from tariffs, it should still be used to pay down debt.
I can see giving the soldiers the $1,776 like they are doing this Christmas, but give aways should stop there.
Just the change in standard deductions and seniors being able to claim another $1,300 - $1,600 (rounded estimates) will save us over $1,000 this year...and not having to pay SS taxes will likely add another $1,000 or so ...
Will this be a big windfall for us on S.S. as well? Or should we just keep doing what we’ve been doing?
“ It’s not good to over promise and raise people’s expectations. If you promise people a thousand dollars or more and they only $500, they’ll be mad”
This is what I fear will happen and wonder if Republicans will have a net loss of voters. Trump continues to say “no tax on tips” and “no tax on overtime” and “no tax on Social Security”. None of this is true. All three have a cap on them.
Even though these sound bites work better doing a rally, they are misleading, especially about Social Security
Many (most?) people collecting Social Security already pay no federal income tax. People at higher income levels will be phased out of getting any reduction in the taxes they pay on Social Security.
Let’s just eliminate the IRS and be done with the personal income tax nonsense once and for all.
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