Posted on 04/15/2019 6:39:39 PM PDT by bitt
Studies consistently find that the 2017 law cut taxes for most Americans. Most of them don’t buy it.
If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it.
Ever since President Trump signed the Republican-sponsored tax bill in December 2017, independent analyses have consistently found that a large majority of Americans would owe less because of the law. Preliminary data based on tax filings has shown the same.
Yet as the first tax filing season under the new law wraps up on Monday, taxpayers are skeptical. A survey conducted in early April for The New York Times by the online research platform SurveyMonkey found that just 40 percent of Americans believed they had received a tax cut under the law. Just 20 percent were certain they had done so. That’s consistent with previous polls finding that most Americans felt they hadn’t gotten a tax cut, and that a large minority thought their taxes had risen — though not even one in 10 households actually got a tax increase.
(Excerpt) Read more at nytimes.com ...
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Probably.
The refund did go down quite a bit.
Nope, taxes up $4,000.
Unless you’re a future taxpayer. Then you got debt.
I got back every bit that was withheld last year. The first time ever.
Nope, taxes up $4,000.
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Did your taxable income go up?
First, I have major issues relying on anyone who calls themselves “survey monkey” being an accurate pollster.
Secondly, more people would believe they got a tax cut if the leftist media didn’t inundate us with sob stories who often were too stupid to see the tax cut and instead bemoaned that Santa Government has left less of a refund under the tree.
I paid $100 more in taxes with my filing that last year but I also made $12,000 more in pay and my tax bracket climbed from 15% to 22%. So, without the tax cut surely I would have needed to cough up more than I did.
That’s okay. I intentionally set up my withholding so I am sending money in rather than allow Uncle Sam to keep an interest-free loan in my name.
If I wanted to go running and crying to the leftist media, I could claim I had to pay more than last year when someone with more than half a brain can figure out that I did much better this year than 2017.
I got a significant tax cut :-)
ME TOO!!
My taxes went up too. Capital gains is the reason. Government gets a nice slice of the profits for doing absolutely nothing to contribute to it.
I probably did but screwed up big time. Kids all moved out and I forgot to adjust withholdings. Just wrote a big check to the Government.
I was very happy with how taxes went this year.
Made $2500 more than last year, and paid $320 less in taxes, so we are happy.
That exact same thing happened to a friend of mine... $6K worth. His withholdings have since been corrected.
Our Fed income tax went down...my elderly Mom’s taxes went up...loss of personal exemptions ($8300.) plus large medical expenses (well over the new std. ded. of $24-$26K (Dad in a SNF). Her tax up about $1K.
I didn’t. I give a lot to charity and was not able to deduct 80% of it. So maybe less next year.
I just wrote a painful check to the IRS, but... my effective rate dropped from 21.51 last year to 18.0 this year. So, yes... I got a tax cut.
If I could designate which agency gets it, I’d feel a lot better about it.
My taxes stayed the same... In the long run I’ll pay less taxes due to the doubling of the standard deduction. Thank you President Trump!
LMAO.
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