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Tax Bill Calculator: Will Your Taxes Go Up or Down?

yankintx said:
Was that sarcasm, or did the point go over your head?

It is fiscally irresponsible to hedge on future growth to pay for the heavy debt these cuts will produce. If you and I are in debt, we do not cut our incoming income, and hope it does not rain tomorrow. The GOP used claim fiscal responsibility, another illusion. Trickle down did not work so well in the 80's, but hey, their rich donors got there payoff. Bye bye Trump !!
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OK, which among "the rich" who claim that they are not being required to pay their "fair share" do this?

It is easy to be generous with the income of others but far harder to get folks to "contribute" more. To assert that a modest rise in the national debt will cause voters, who find themselves with more of their paychecks available to spend, to vote out republicants in order to see their paychecks shrink when the demorats take charge is doubtful. We will soon see in the 2018 elections.
 
It looks like I'll save a bit. But anything I save goes into retirement. The GOP goal all along is to cut spending and programs. I see a SS cut coming, maybe making me work till I'm 70. Likely a hike in medicare costs and for supplemental insurance too.
 
chuckiechan said:
Well, you just can't trust the NY Time to give honest answers. So they produced a simple interactive chart so you can see for yourself how badly you are being screwed by the Republicans! Easy- peasy!
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It doesn't allow you to do it by year. The GOP tax cuts for individuals/families expire after 2025. That is when major tax increases for the GOP bloated deficit will effect most Americans.
 
Rogue Valley said:
It doesn't allow you to do it by year. The GOP tax cuts for individuals/families expire after 2025. That is when major tax increases for the GOP bloated deficit will effect most Americans.
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Gee. That just happens to be an election year. The anti tax plan democrats are now going to have to run against a candidate who promises to extend the tax cut.
 
chuckiechan said:
Gee. That just happens to be an election year. The anti tax plan democrats are now going to have to run against a candidate who promises to extend the tax cut.
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Not a financially sound solution. Extending the tax cut further increases the [by then] already bloated deficit.
 
MrWonka said:
Supposedly getting a $760 cut, and I don't want it. $760 split over 24 pay periods works out to about $31 dollars every two weeks. That's nothing. I might buy a nicer bottle of bourbon with it, but not more of it. This will result in no meaningful change whatsoever in my quality of life, nor will I create any jobs with it. Meanwhile this will drive massive deficits, and then Republicans will try and use those deficits as an excuse to make cuts to welfare, foodstamps, education, and subsidies for health care and programs like CHIP.

I will happily pay an extra $760 per year to make sure millionaires and billionaires aren't getting more giveaways, and that these programs stay in place. If Republicans wanted to do something that would truly benefit me they'd eliminate student loan debt instead of getting rid of the tax credits I receive for the interest I'm paying on it.
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I'll take it if you don't want it.

If it helps you, just consider it a new funding source for birth control. :lamo
 
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Harshaw said:
What jobs were you going to create if you got a larger tax cut?
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He doesn't appear to realize that spending money creates jobs.
 
jmotivator said:
He doesn't appear to realize that spending money creates jobs.
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No, he doesn't appear to realize that saying he won't create jobs with a $760 tax cut doesn't mean much when he himself was never going to create any jobs anyway.
 
Harshaw said:
No, he doesn't appear to realize that saying he won't create jobs with a $760 tax cut doesn't mean much when he himself was never going to create any jobs anyway.
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Well, spending money creates jobs. His tax refund would fund about 100 hours of minimum wage labor, or 50 hours of In-and-Out employment. :2razz:

Or, as I pointed out in my edited response to him, he can just look at his extra money as a new birth control funding source.
 
It says I’ll get a 5 figure tax cut. Most likely I will invest it like I do with most of my income.
 
Captain Adverse said:
Then feel free to donate your $760 per year to the government, if it's not worth it to you. :roll:

I agree that taxes should be spent on those things government is supposed to focus on, defense, infrastructure, justice, etc.

I personally would like to see major cuts in all sorts of government spending, and the best way to do that is reducing the amount of money the government takes in to spend.

It is only a first step. The next involves reductions in both deficit spending and commensurate borrowing from the Federal Reserve.
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Let's help MrWonka with a list of things he can spend that money on!

6 visits to the Doctor

6 years of NetFlix

8 years of Amazon Prime

A PS4, Xbox One AND a Nintendo Switch

76% of the cost of an iPhone X (TrumpPhone > ObamaPhone)

A year's supply of birth Control for 7 Hobby Lobby Employees
 
according to that calculator, my tax cut will be between $0 and $210. hooray. another one said that it would be a grand or so. considering the benefits that i'll lose when Republicans use this as an excuse to gut Medicare and other programs, it's going to be a net loss either way.
 
jmotivator said:
I'll take it if you don't want it.

If it helps you, just consider it a new funding source for birth control.
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Actually, if you truly were going to use it to make sure your girlfriend was on birth control I might consider that because the world definitely doesn't need more of you, but I think we all know you're not getting laid anytime soon anyway.
 
jmotivator said:
He doesn't appear to realize that spending money creates jobs.
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Sure, I do. Everyone knows that. But it takes the same number of employees to produce a steak as it does to produce a chicken breast. That's all $14 per week will do. The vast majority of the cuts are going to millionaires and billionaires who are already spending all the money they were going to spend. The extra money they get will be invested or saved. That might be okay in an economy that was starting to recover from a bad recession, but we've been at full employment for some time now, and are in absolutely no need of stimulus. We'd be better off saving this money for when Trump destroyes our economy so we can better afford to run deficits to bring it back. Either that or using it to help millenials pay down student loan debt or reducing health care premiums for lower income people and the middle class.
 
Harshaw said:
No, he doesn't appear to realize that saying he won't create jobs with a $760 tax cut doesn't mean much when he himself was never going to create any jobs anyway.
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No, apparently you don't realize it takes the same number of people to butcher a cow whether I buy hamburger or steak.
 
MrWonka said:
No, apparently you don't realize it takes the same number of people to butcher a cow whether I buy hamburger or steak.
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Whatever you think that means . . .
 
jmotivator said:
Let's help MrWonka with a list of things he can spend that money on!

6 visits to the Doctor
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Already have health insurance and an HSA.

jmotivator said:
6 years of NetFlix
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Don't watch much TV, already watch all the sports I need.

jmotivator said:
8 years of Amazon Prime
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Don't use it much, and when I do it's to buy something I don't mind wait a few days for anyway.

jmotivator said:
A PS4, Xbox One AND a Nintendo Switch
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Already have a ps4. Barely play it.

jmotivator said:
76% of the cost of an iPhone X (TrumpPhone > ObamaPhone)
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Pretty sure the owner of every major phone maker actually ****ing hates Trump, but I already have a Pixel and it's well within my budget.

jmotivator said:
A year's supply of birth Control for 7 Hobby Lobby Employees
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That would actually be the best usage of the money that you listed, but that would benefit the whole country. I'm not going to solve your problems for you if you're not going to help out.

Sounds like better bourbon it is. Look at all that job creation.
 
Harshaw said:
Whatever you think that means . . .
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It means that that's what I'm going to do with the extra money. Buy more steak, and less hamburger. More Jack Daniels, and less Jim Beam. But since it takes the exact same number of employees to make one of those as it does to make the other, I'm creating the exact same number of jobs with or without the tax cut. That's why tax cuts for people that are relatively wealthy don't create jobs. We can already afford everything we actually need and or want. Best case scenario we might buy nicer versions of those things, but we don't really buy more.
 
MrWonka said:
It means that that's what I'm going to do with the extra money. Buy more steak, and less hamburger. More Jack Daniels, and less Jim Beam. But since it takes the exact same number of employees to make one of those as it does to make the other, I'm creating the exact same number of jobs with or without the tax cut. That's why tax cuts for people that are relatively wealthy don't create jobs. We can already afford everything we actually need and or want. Best case scenario we might buy nicer versions of those things, but we don't really buy more.
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This is nonsensical babble.
 
jmotivator said:
A PS4, Xbox One AND a Nintendo Switch

76% of the cost of an iPhone X (TrumpPhone > ObamaPhone)
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By the way, you realize all these things are manufactured in Asia right? I thought Trump canceled the TPP because we didn't want to buy more things from them?
 
Harshaw said:
This is nonsensical babble.
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No, you just don't have a response cause you've never thought about that before, and there's no talking point you can rebut it with because it's the truth.
 
MrWonka said:
Actually, if you truly were going to use it to make sure your girlfriend was on birth control I might consider that because the world definitely doesn't need more of you, but I think we all know you're not getting laid anytime soon anyway.
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Swing and a miss. I am married and have already procreated a few times.

I mean, yeah, good idea! Send me that $760 and I will promise to never procreate again! :lamo
 
MrWonka said:
By the way, you realize all these things are manufactured in Asia right? I thought Trump canceled the TPP because we didn't want to buy more things from them?
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Your understanding of things in general appears to be on par with your economic sense.
 
MrWonka said:
Already have health insurance and an HSA.

Don't watch much TV, already watch all the sports I need.

Don't use it much, and when I do it's to buy something I don't mind wait a few days for anyway.

Already have a ps4. Barely play it.

Pretty sure the owner of every major phone maker actually ****ing hates Trump, but I already have a Pixel and it's well within my budget.

That would actually be the best usage of the money that you listed, but that would benefit the whole country. I'm not going to solve your problems for you if you're not going to help out.

Sounds like better bourbon it is. Look at all that job creation.
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You've taken my list way more seriously than you should have. But you do you.

In reality I would suggest that if you can't think of anything in the $760 range you need then you should just start investing it.

In a quick back of envelope calculation, if you took that $760 a year and invested it and got a 2.5% return, in 10 years you'd have $8500... if you carried that habit out for 20 years you'd end up with nearly $20,000.

You're welcome.
 
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