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Thread: as Asshole Trump enjoys his tax cut, millions of Americans outraged at rip-off

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    Default as Asshole Trump enjoys his tax cut, millions of Americans outraged at rip-off

    Scads of taxpayers are complaining on Twitter that they have always received a refund — but now owe the IRS instead.

    The number of refunds sent out by the IRS was also down — about 24 percent — as the agency struggled to get up to speed after the government shutdown. The agency sent out about 4.67 million tax refunds in the week ending Feb. 1, compared with about 6.17 million in the same period in 2018, according to IRS data.

    This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

    In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

    The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.

    Twitter is filling up with complaints from people whose situation has changed radically.



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    Quote Originally Posted by reagansghost View Post
    The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.
    High tax Democrat states got their comeuppance. #MAGA

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    Default billionaires paid off Republicans for passing the Trump tax bill

    as his base eats crow for dinner every night, forget that grocery store!


    In late June 2017, Texas political mega-donor Doug Deason had a stern message for Republicans seeking campaign donations: The “Dallas piggy bank” was closed until they repealed Obamacare and passed major tax cuts. Deason said he had urged about two dozen of his wealthy Texas friends to do the same. The billionaire Koch brothers Charles and David also hinted at withholding money.

    Just weeks later, the GOP effort to repeal Obamacare collapsed. Tax reform, which one Republican senator said would make repealing Obamacare look like a piece of cake, ominously loomed as the next item on the GOP agenda, and time was running out. Panic set in. By November, as Congress struggled to push a massive tax cut bill forward, Rep. Chris Collins from New York summed up the stakes: “My donors are basically saying: ‘Get it done or don’t ever call me again.’”

    Lawmakers got it done. Just days before the holiday break, relieved Republicans delivered those wealthy donors what they wanted: one of the biggest tax cuts in history, one that would almost exclusively benefit the wealthy.

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    oopsy!!

    This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

    In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

    The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.


    HAHAHAHAHAA!!!

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    Quote Originally Posted by reagansghost View Post
    oopsy!!

    This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

    In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

    The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.


    HAHAHAHAHAA!!!
    And then there is this:

    https://itep.org/netflix-posted-bigg...-income-taxes/

    "Hugely profitable tech company provides first look at how corporations are faring under new tax law

    The popular video streaming service Netflix posted its largest-ever U.S. profit in 2018**—$845 million—on which it didn’t pay a dime in federal or state income taxes. In fact, the company reported a $22 million federal tax rebate.

    After a year of speculation and spin, the public is getting its first hard look at how corporate tax law changes under the Tax Cuts and Jobs Act affected the tax-paying habits of corporations. The law sharply reduced the federal corporate rate, expanded some tax breaks and curtailed others. The new tax law took effect at the beginning of 2018, which means that companies are just now closing the books on their first full year under the new rules.

    If Netflix’s earnings report is any indication, not much has changed. Many corporations are still able to exploit loopholes and avoid paying the statutory tax rate—only now, that rate is substantially lower.

    Netflix’s tax avoidance should come as no surprise to those who followed the debate leading up to the passage of the new tax law: A 2017 ITEP report identified Netflix as one of 100 profitable Fortune 500 corporations that paid a 0 percent federal income tax rate in at least one profitable year between 2008 and 2015. In fact, Netflix did it twice, and paid an average tax rate of 13.6 percent over the eight-year period, meaning that the company sheltered more than half of its profits from the 35 percent federal income tax rate in effect at the time."

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    Sadly, I actually feel sorry for them. NOT ALL! But all too many.
    SEP 2016: Obama asked McConnell to co-write a LETTER of CONDEMNATION of Russian interference
    into the upcoming election and to alert US. The CIA DIR
    had briefed BOTH parties Congr'l leaders of the same.

    McConnell told Brennan,
    “You’re trying to screw the Republican nominee.”

    McCONNELL REFUSED to sign the letter.

    The rest is history!

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    Quote Originally Posted by Old Trapper View Post
    And then there is this:

    https://itep.org/netflix-posted-bigg...-income-taxes/

    "Hugely profitable tech company provides first look at how corporations are faring under new tax law

    The popular video streaming service Netflix posted its largest-ever U.S. profit in 2018**—$845 million—on which it didn’t pay a dime in federal or state income taxes. In fact, the company reported a $22 million federal tax rebate.

    After a year of speculation and spin, the public is getting its first hard look at how corporate tax law changes under the Tax Cuts and Jobs Act affected the tax-paying habits of corporations. The law sharply reduced the federal corporate rate, expanded some tax breaks and curtailed others. The new tax law took effect at the beginning of 2018, which means that companies are just now closing the books on their first full year under the new rules.

    If Netflix’s earnings report is any indication, not much has changed. Many corporations are still able to exploit loopholes and avoid paying the statutory tax rate—only now, that rate is substantially lower.

    Netflix’s tax avoidance should come as no surprise to those who followed the debate leading up to the passage of the new tax law: A 2017 ITEP report identified Netflix as one of 100 profitable Fortune 500 corporations that paid a 0 percent federal income tax rate in at least one profitable year between 2008 and 2015. In fact, Netflix did it twice, and paid an average tax rate of 13.6 percent over the eight-year period, meaning that the company sheltered more than half of its profits from the 35 percent federal income tax rate in effect at the time."
    Well someone has to pick up the slack. Joe the PLUMBER can afford it!
    SEP 2016: Obama asked McConnell to co-write a LETTER of CONDEMNATION of Russian interference
    into the upcoming election and to alert US. The CIA DIR
    had briefed BOTH parties Congr'l leaders of the same.

    McConnell told Brennan,
    “You’re trying to screw the Republican nominee.”

    McCONNELL REFUSED to sign the letter.

    The rest is history!

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    I am willing to be the ones bitching the most are Democrats. They always do when they actually have to pay for all the things they want.
    Consider the Oyster.

    C-4 is just angry playdoh.

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    Step 1: Cry about taxes being too low! Pay your fair share!!!
    Step 2: Cry about paying more in taxes
    Step 3: Cry moar

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    Interesting typos in the last two posts.
    It is the responsibility of every American citizen to own a modern military rifle.

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    Quote Originally Posted by Dark Soul View Post
    High tax Democrat states got their comeuppance. #MAGA
    I'm pissed that I'm not subsidizing those super high blue tax states and I even got to keep more of my money!

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    Quote Originally Posted by reagansghost View Post
    Scads of taxpayers are complaining on Twitter that they have always received a refund — but now owe the IRS instead.

    The number of refunds sent out by the IRS was also down — about 24 percent — as the agency struggled to get up to speed after the government shutdown. The agency sent out about 4.67 million tax refunds in the week ending Feb. 1, compared with about 6.17 million in the same period in 2018, according to IRS data.

    This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

    In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

    The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.

    Twitter is filling up with complaints from people whose situation has changed radically.


    There's a bunch of those replies on twitter. Watch them claim they are secret democrats, just saying they voted for him. As a democrat I imagine going to Trump's twitter page, like getting on a roller coaster, after a triple chili cheeseburger, with fries, and a mocha milkshake.

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