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Thread: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by RetiredUSN View Post
    Paying your fair share really sucks when it is you paying it.

    What a crock!

    I will be more than happy to trade tax returns with you. ( get your ****ing check book ready)
    if your income is too high, it's easy to correct that on your own. if you think that those below you have it so cushy, become one of them.

    as for my point about significantly reduced tax refunds being a potential problem for the Trumpist party, that is correct.

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by Fletch View Post
    I am a defender of Trump and I have no problem saying that. Do I approve of all of his antics? Hell no. Do I approve of every policy he has put forward? Yes. Do I think he colluded with Russia? No. Do I think that the liberal obsession with all thing Russia is just a new form of Trutherism? Absolutely.
    that's an interesting assertion. how many conspirators / planters of tactical nukes in the twin towers have been indicted and have pled guilty so far?

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by Greenbeard View Post
    The GOP's greatest strategist once again offers up a master class in one-dimensional chess.

    Trump Tax Cuts Are (Probably) About to Become a Political Disaster
    What is the Left's solution? Repeal the latest tax bill and raise taxes?
    Quote Originally Posted by HenryChinaski View Post
    You people are my problem. You’re a major component of what’s wrong with this country.
    It's more important to be morally right than factually correct - Alexandria Ocasio-Cortez

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by Helix View Post
    if your income is too high, it's easy to correct that on your own. if you think that those below you have it so cushy, become one of them.

    as for my point about significantly reduced tax refunds being a potential problem for the Trumpist party, that is correct.
    Why should I have to pay for the babies of the irresponsible people who couldn't afford them in the first place............. that you are whining about?

    But but but......................free birth control was all the rage 2-3 years ago!

    You folks are not happy regardless.
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    Tip O'Niell

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by RetiredUSN View Post
    Paying your fair share really sucks when it is you paying it.

    What a crock!

    I will be more than happy to trade tax returns with you. ( get your ****ing check book ready)
    Libbos don't seem to dig paying taxes as much as they claimed. I wonder if they still swear that paying taxes is patriotic.
    Quote Originally Posted by HenryChinaski View Post
    You people are my problem. You’re a major component of what’s wrong with this country.
    It's more important to be morally right than factually correct - Alexandria Ocasio-Cortez

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by SonOfDaedalus View Post
    Maybe you've never been poor. I grew up poor. My parents counted on that tax refund. It was a big deal. People notice when it gets smaller.

    And no, people don't understand taxes at all. For example, they don't understand progressive taxation. If you told most people that income above $10 million would be taxed at 70% they would expect someone who makes $10 million to pay $7 million in taxes. Most people don't understand that it's only the money beyond the first $10 million that's taxed at 70%.
    I hate to break this to you but if you were poor and your parents kept getting refunds then that was either due to "refundable credits" which really aren't refunds or it was due to them having more tax withheld from their check than they needed to which wasn't a function of the tax law but, rather, a problem of them CHOOSING to take less money with each check in favor of a larger refund at the end of the year. If the reason for their refund was the former then there's really nothing else they could have done to fix that problem. If their refund was due to the latter reason then they were basically choosing not to feed you guys and not to pay rent or utilities because they wanted a bigger refund in April.

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by RetiredUSN View Post
    Why should I have to pay for the babies of the irresponsible people who couldn't afford them in the first place............. that you are whining about?

    But but but......................free birth control was all the rage 2-3 years ago!

    You folks are not happy regardless.
    you're the one whining about paying taxes. i offered a solution.

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    From the article:
    GOP operatives insisted that the “blue wave” on the horizon would crest long before November — because the Trump Tax Cuts were about to kick in. Once voters saw fatter paychecks, Republicans would see better poll numbers. And just to be sure that voters noticed all the good Paul Ryan had done for them, the Trump administration reportedly pressured the IRS to err on the side of withholding too little from Americans’ paychecks "so people will see big increases in their take-home pay ahead of this year’s midterm elections."

    This did not work out as planned.


    Red:
    Yes, I'm sure, one way or another, some folks saw fatter paychecks. I noticed the difference in my estimated tax payments. (Note: my estimated tax payments are structured to result in my, come April 15th, having paid ~90% of my federal tax liability.) I suspect, however, that most folks, regardless of their gross or pre-tax "take home" income, found the difference, as did I, inconsequential to their lifestyle. And therein lies a key problem with Trump's tax cut (the TCJA).

    Tax cuts aren't supposed or generally designed to be "life altering;" however, if one's going to advertise them as being "middle class" tax cuts, members of the middle class (folks in the third through sixth septiles) ought, proportionally, get a better cut than folks in other economic segments of the population. Yet, that's just not how the TCJA doles the benefit of the cuts. Indeed the nature and extent of the revisions to the corporate sections of the tax code provided "life altering" reductions -- the plethora of stock buybacks being the early indicator of such -- to organizations that have, as the unabated and comparatively steep value increase of every stock index that readily comes to my mind: Dow indices, S&P indices, CBOE, NASDAQ, Russel, Goldman, etc.

    Now folks are beginning to see what analyst after analyst indicated before Congress/Trump enacted the TCJA: it's little but a successfully marketed set of "window dressing" and "smoke and mirrors" set of provisions that allow corporations and wealthy folks (from "entry level" wealthy on up) retain more earnings, and it does so at a time when it's increasingly prudent (due to the greater returns to AI/robotics than to labor) for such folks to invest those retained earnings in purchases not of labor, but of capital. Exacerbating the matter is Trump's chaotic approach to articulating policy, particularly trade policy and policies that sagacious managers consider in evaluating decisions such as how to expand, where to deploy resources, whether to buy or outsource "this or that," whether/where to erect/buy new facilities, etc.


    Blue:
    So, yes, folks see fatter paychecks. The problem is what they don't see and don't bother to look for, behaviors typical of many a middle class citizen, Trumpkins in particular. I'm sure many a sharkbite victim saw lovely seas and beautiful skies but not the jaws lurking below....

    Trump's tax cut is much like everything else coming from him: deceptive.
    Those who jettison the epistemological standards of science are no longer in a position to use their intellectual product to make any claims about what is true of the world or to dispute the others’ claims about what is true. - Tooby & Cosmides
    The lion does not turn around when a small dog barks. -- African Proverb

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by Helix View Post
    you're the one whining about paying taxes. i offered a solution.
    You offered no solution other than whiny assed emotions regarding your returns!

    Takers, always talk just like you............................ Let's screw anyone anyone that doesn't give a grand or two per child of the takers who were irresponsible to begin with.
    “It’s easier to run for office than to run the office.”
    Tip O'Niell

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    Re: Trump Tax Cuts Are (Probably) About to Become a Political Disaster

    Quote Originally Posted by RetiredUSN View Post
    You offered no solution other than whiny assed emotions regarding your returns!
    not really. i don't mind paying taxes for the most part, as i enjoy being a member of a stable first world society, and that's the bill. my point is that significantly reduced refunds might cost the Trumpist party some votes. as predictions go, this one isn't very controversial.

    Quote Originally Posted by RetiredUSN View Post
    Takers, always talk just like you............................ Let's screw anyone anyone that doesn't give a grand or two per child of the takers who were irresponsible to begin with.
    i'm not a "taker," but thanks for the flailing insult.

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