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Author Topic: "the Mooch"  (Read 72475 times)

Re: "the Mooch"
« Reply #1070 on: Feb 12, 2019, 22:46:14 »
Hopefully the last day's drama is water under the bridge, and back to the topic at hand.

Will middle and lower class Trump voters realize that they were scammed by the fake promise of a tax cut?

https://thehill.com/policy/finance/429515-the-memo-smaller-tax-refunds-hold-dangers-for-trump-gop

It might be a little mean to call them "suckers" but buying into what a charlatan is selling... It's difficult to decry it as "fake news" when prominent Republicans are saying things such as this:

"Even some Republican strategists argue that the refunds issue could be politically potent if it makes voters question the overall intent of the tax reform package.

“If you made the same amount of money this year as last year, and all your reductions are basically the same, and your refund is smaller after the so-called ‘middle class tax rebate’? You might think, ‘Gee, I was lied to,’ ” said GOP strategist Rick Tyler, who was the communications director for Sen. Ted Cruz (R-Texas) during the 2016 Republican presidential primaries."

Ouch.
"Remember when Goldwings were sexy? Me neither" -- Comet Tavern bathroom, Seattle.

Offline stroker crazy

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Re: "the Mooch"
« Reply #1071 on: Feb 13, 2019, 00:15:02 »
sigh ......
“Ride like the Wind” W.H.

Offline VintageMBike

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Re: "the Mooch"
« Reply #1072 on: Feb 13, 2019, 00:21:44 »
5 bikes

Offline J-Rod10

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Re: "the Mooch"
« Reply #1073 on: Feb 13, 2019, 00:50:54 »
If you made the same amount of coin, kept more, paid less in, wouldn't it be logical that one may get less back?

I haven't had a refund since about 2011, so, I'm a bit rusty on all that. What I'm paying in will certainly be less this year, though.

Online irk miller

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Re: "the Mooch"
« Reply #1074 on: Feb 13, 2019, 01:03:25 »
If you made the same amount of coin, kept more, paid less in, wouldn't it be logical that one may get less back?

I haven't had a refund since about 2011, so, I'm a bit rusty on all that. What I'm paying in will certainly be less this year, though.
That seems to be the biggest confusion for a lot of people.  If your employer adjusted for less taxes, then your return will also be less.  IMO, it's better to pay less taxes per month than to get a return in the spring.  Why the hell do I want to loan the government almost 25% of my income every year and then get little in return?

Re: "the Mooch"
« Reply #1075 on: Feb 13, 2019, 01:17:13 »
If you made the same amount of coin, kept more, paid less in, wouldn't it be logical that one may get less back?

I haven't had a refund since about 2011, so, I'm a bit rusty on all that. What I'm paying in will certainly be less this year, though.

That seems to be the biggest confusion for a lot of people.  If your employer adjusted for less taxes, then your return will also be less.  IMO, it's better to pay less taxes per month than to get a return in the spring.  Why the hell do I want to loan the government almost 25% of my income every year and then get little in return?

C'mon guys, think about it. Trump promised paying less in taxes, not paying less money in and getting less money back. Paying less money in and getting less money back is the status quo with a different withholding scheme. Trump didn't promise the status quo, he promised less taxes.
"Remember when Goldwings were sexy? Me neither" -- Comet Tavern bathroom, Seattle.

Offline J-Rod10

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Re: "the Mooch"
« Reply #1076 on: Feb 13, 2019, 02:54:27 »
C'mon guys, think about it. Trump promised paying less in taxes, not paying less money in and getting less money back. Paying less money in and getting less money back is the status quo with a different withholding scheme. Trump didn't promise the status quo, he promised less taxes.
Bit of semantics there. If less taxes were paid, and you kept more money, you paid less in taxes.

Re: "the Mooch"
« Reply #1077 on: Feb 13, 2019, 10:20:10 »
Bit of semantics there. If less taxes were paid, and you kept more money, you paid less in taxes.

I don't think that is why the GOP is worried. I guess if people in the middle class want to think they are benefiting despite evidence to the contrary that's their prerogative. And if they want to believe that giving huge tax breaks to the mega-wealthy somehow benefits them as well, there's nothing to stop them from believing that the moon is made of cheese.
"Remember when Goldwings were sexy? Me neither" -- Comet Tavern bathroom, Seattle.

Offline SONIC.

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Re: "the Mooch"
« Reply #1078 on: Feb 13, 2019, 11:26:05 »
I don't think that is why the GOP is worried. I guess if people in the middle class want to think they are benefiting despite evidence to the contrary that's their prerogative. And if they want to believe that giving huge tax breaks to the mega-wealthy somehow benefits them as well, there's nothing to stop them from believing that the moon is made of cheese.

It depends on how the trends come out.
A lot of people will see a smaller refund, but ultimately take home more money because of less withholding.
Some people will in fact take home less money.

I'm curious to see overall how that plays out.

Personally as a manufacturer it's pretty much a wash. We get the 20% pass through income deduction but lost a 10% "made in america" deduction as well as several others that totaled about 10%.

Offline J-Rod10

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Re: "the Mooch"
« Reply #1079 on: Feb 13, 2019, 13:12:03 »
It depends on how the trends come out.
A lot of people will see a smaller refund, but ultimately take home more money because of less withholding.
Some people will in fact take home less money.

I'm curious to see overall how that plays out.

Personally as a manufacturer it's pretty much a wash. We get the 20% pass through income deduction but lost a 10% "made in america" deduction as well as several others that totaled about 10%.
I've seen a lot of complaints that ended with "well, yeah I paid in a lot less, but I figured my refund would be the same."

Whole, whole lot of complaints from the taxillionaires. No money for down payments on trucks that the repo man is coming for round August.