MILLIONS will be hit with TAXES due to UNDERPAYING for 2018 TAX CUT (TOLD YAH!)

The politics of the Conservative Russia Tax Cut was to turn people against their own states by eliminating SALT deductions.

But it backfired because Conservatives either forgot about, or chose to ignore all the other deductions & exemptions they eliminated.

So what started out as policy we were promised would benefit everyone, has devolved into posturing of "well, I don't care about anyone anymore".

Conservatives are idiots.

2020 is coming.
 
LV426 said:
You screwed up tax policy...and since you refuse to hold yourself accountable for being conned, you just get petty.

Well, it's not gonna matter because enough Trumpanzees are finding they owe more in taxes, and they're not going to be coming for my head because of it...they're gonna be coming for those who pushed it, like you.

Enjoy 2020.
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Look, if your tax burden goes-up in spite of tax cuts and the doubling of the standard deduction, then you screwed-up your taxes. You are seriously a fucking idiot. Leftists get elected to offices in America because there are people as dumb as you that Darwin has failed to catch-up with.
 
LV426 said:
The politics of the Conservative Russia Tax Cut was to turn people against their own states by eliminating SALT deductions.

But it backfired because Conservatives either forgot about, or chose to ignore all the other deductions & exemptions they eliminated.

So what started out as policy we were promised would benefit everyone, has devolved into posturing of "well, I don't care about anyone anymore".

Conservatives are idiots.

2020 is coming.
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Nothing was eliminated, you fucking idiot. There was a cap set on mortgage deductions, but it was set at $750,000.

SALT deduction have a cap, because the purpose was to get rich people in blue states to pay their fair share. Now they will.
 
LV426 said:
You can't itemize your deductions anymore.

What. The. Fuck. Dude?

Look, I took you clowns through the math of how your stupid Russia Tax Cut ended up increasing the average family of four's tax liability.

Before the Russia Tax Cut you support, a family of four could deduct/exempt:

$16,200 Personal Exemptions
$8,300 Mortgage Interest
$6,241 SALT
$7,998 Medical
$2,500 Student Loan Interest
$3,356 Charitable contribution
=$44,595

Yet, your standard deduction is just $24,000 (+$4K for Child credit for two kids).

So in what world is $28,000 > $44,595????
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who told you that you couldn't itemize any more and why were you stupid enough to believe them?.....
here is the form you use to do so for 2018....
https://www.irs.gov/pub/irs-pdf/f1040sa.pdf
 
LV426 said:
So, to recap:

Back in December 2017, Conservatives made all these promises about the Russia Tax Cut.

Fast forward to 2019, and none of those promises came to pass.

So they previously pitched it as a benefit to everyone, and are now saying "well, I don't care if I have to pay more in taxes".

Own the libs by raising your own tax liability.

Only in America...
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My taxes were cut, you retard. I pay less in taxes now than I did in 2017.
 
Will any Democrats come to this thread and apologize for the fact that LV basically represents their party, when it comes to being this fucking retarded?
 
Howard the Duck said:
Nothing was eliminated, you fucking idiot. There was a cap set on mortgage deductions, but it was set at $750,000.

SALT deduction have a cap, because the purpose was to get rich people in blue states to pay their fair share. Now they will.
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Off topic, but can't let it pass, quickly, those blue states you are implying don't "pay their share" are in reality financing a good number of red states who rely on Federal funding, fact

And two things are happening here, with the lose of exemptions and limits on other deductions, the average American with three or four kids ain't reaping the big dividend that the double standard deduction was promised as a carrot. In the future, that will decline even further

Secondly, given that most Americans are too busy to pay attention to politics, a lot of them are going to find out that that big return they are used to come tax time ain't there because the withholding they were used to wasn't there in 2018. Guarantee at the time a lot of them thought the increase in their pay was actually due to the Trump tax cut, reality is going to sink now
 
archives said:
Off topic, but can't let it pass, quickly, those blue states you are implying don't "pay their share" are in reality financing a good number of red states who rely on Federal funding, fact

And two things are happening here, with the lose of exemptions and limits on other deductions, the average American with three or four kids ain't reaping the big dividend that the double standard deduction was promised as a carrot. In the future, that will decline even further

Secondly, given that most Americans are too busy to pay attention to politics, a lot of them are going to find out that that big return they are used to come tax time ain't there because the withholding they were used to wasn't there in 2018. Guarantee at the time a lot of them thought the increase in their pay was actually due to the Trump tax cut, reality is going to sink now
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Well, we'll see if Americans are as dumb as LV666 is.
 
Howard the Duck said:
Well, we'll see if Americans are as dumb as LV666 is.
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I came late, so don't know about "LV666," but there are going to be a good number of Americans who will be scratching their heads wondering how all this happened after what I was promised by Trump

And down the road it will worse given that someone is going to have to pay for this stimulus for the rich, so when cutting entitlements come into the picture Americans will see the real motivation in the Trump tax cut
 
I never get a refund. Yes I heard about this issue yesterday.

How much of a beating can Jesusland, Racistberg and Gunsville take to protect their egos from misplaced commitment to Trump?

In other words, how dumb can you get? Just admit you are the idiots we told you you were and move on.
 
Micawber said:
I never get a refund. Yes I heard about this issue yesterday.

How much of a beating can Jesusland, Racistberg and Gunsville take to protect their egos from misplaced commitment to Trump?

In other words, how dumb can you get? Just admit you are the idiots we told you you were and move on.
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THIS!

I cut the IRS a check when I figure out what I owe. I wait until the last minute to ensure the least amount of scrutiny will be placed on my data.

I have been able to get penalties waived by arguing I'm not profitable until the 4th quarter so I don't even make estimated payments. I just cut them the amount I owe at one time. Not taking the chance on payments getting lost or the IRS failing to update the records. I pay them once a year and that is it.
 
LV426 said:
But you all pitched your Russia Tax Cut as something that would lower my tax burden.

So you lied.
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You always struck me as someone who would throw a party on April 15th because you wanted to celebrate paying your taxes, now you're all butthurt because your tax "burden" has gone up? When did it become a burden? From what I can deduce, your precious refund is going to go down, not disappear. My tax burden(and I do consider a large portion of it to be a true burden)is going to be lower and after I pay this year, I'm still going to need to take a few showers and curl up with a bottle of scotch. So relax, these tax cuts expire in 2025, and you got 500 demorats running for president next year that want nothing more than to raise taxes. Let's see how that goes
 
Centerleftfl said:

You got it! This wasn't and isn't partisan in the end. THIS IS ARITHMETIC!

I absolutely knew this was going to happen. I just had no idea to how many taxpayers.
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It's really sad because 1) a lot of ppl count on this "windfall" to make purchases they put off all year in anticipation, and 2) those purchases help drive the economy. Hopefully though most ppl were informed by their HR depts. that they might want to change their withholding, last year, so they won't get an ugly surprise this year.
 
countryboy said:
That doesn't even make any sense. If taxes went down, and your withholding stayed the same, why would you owe more? Libs really are some stupid mother fuckers.

Fake news alert. :bs:
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For one thing, itemized deductions are mostly a thing of the past now. For another, allowances have changed. A couple of articles:

https://www.usatoday.com/story/money/2019/02/08/taxes-2019-why-my-refund-lower-2019/2816418002/
and

"The new GOP tax bill, which was passed in December 2017, made some sweeping changes. Most of those went into effect in the 2018 tax year, for which filing season officially starts on January 28.

"The individual tax rates changed, so the IRS updated the income tax withholding tables and encouraged filers to review and update their W-4 forms — which determine how much income tax is withheld from your pay — to make sure you were withholding the right amount under the new legislation.

"But a 2018 survey by H&R Block suggests that most Americans never did that: As of November, only about 20 percent of respondents said they had updated their W-4 in response to the tax overhaul. That means about 80 percent didn't."
https://www.cnbc.com/2019/01/30/80-...x-mistake-that-could-affect-their-refund.html
 
ThatOwlWoman said:
For one thing, itemized deductions are mostly a thing of the past now. For another, allowances have changed. A couple of articles:

https://www.usatoday.com/story/money/2019/02/08/taxes-2019-why-my-refund-lower-2019/2816418002/
and

"The new GOP tax bill, which was passed in December 2017, made some sweeping changes. Most of those went into effect in the 2018 tax year, for which filing season officially starts on January 28.

"The individual tax rates changed, so the IRS updated the income tax withholding tables and encouraged filers to review and update their W-4 forms — which determine how much income tax is withheld from your pay — to make sure you were withholding the right amount under the new legislation.

"But a 2018 survey by H&R Block suggests that most Americans never did that: As of November, only about 20 percent of respondents said they had updated their W-4 in response to the tax overhaul. That means about 80 percent didn't."
https://www.cnbc.com/2019/01/30/80-...x-mistake-that-could-affect-their-refund.html
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Again, this is talking about refund amounts, not tax liability. A smaller refund is a good thing, it means you loaned the government less interest free money. The bottom line is the bottom line, tax rates are lower.
 
ThatOwlWoman said:
It's really sad because 1) a lot of ppl count on this "windfall" to make purchases they put off all year in anticipation, and 2) those purchases help drive the economy. Hopefully though most ppl were informed by their HR depts. that they might want to change their withholding, last year, so they won't get an ugly surprise this year.
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No, the sad part is people actually believing getting their own money back is a "windfall". We should do away with withholding altogether. People should have to pay their taxes quarterly. Of course, that'll never happen, because people would realize just how much they are being fleeced.
 
countryboy said:
No, the sad part is people actually believing getting their own money back is a "windfall". We should do away with withholding altogether. People should have to pay their taxes quarterly. Of course, that'll never happen, because people would realize just how much they are being fleeced.
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I agree that thinking getting your own money back is a special happy occasion is wrong. I don't see quarterly paying though as something that corporations (who employ most of us) are going to be happy going along with. They're mandated of course to do the withholding part and have no choice in the matter. How would you work that out?
 
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